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Dan Cole

Hi Erwin:

Super interesting post.

I wonder if Hayek was thinking more of the nineteenth century, when the middle class was just emerging and really did seem to imitate the aristocracy, rather than the twentieth century, when producers began providing a far broader range of goods with a focus on the middle class, which provided a far larger market than the aristocracy? I also wonder if Hayek was not thinking more of European markets than American markets.

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