To The Contrary with Charlie Sykes What’s With Rich People These Days?
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Feb 7, 2026 
Justin Wolfers, economist and University of Michigan professor who studies wealth and labor markets, digs into billionaire behavior and what wealth does to judgment and influence. He discusses Bezos and media ownership, why the superrich seek things money cannot buy, the role of the dollar in global trade, and how AI will reshape jobs and workplace value.
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What Money Can't Buy
- Money can't buy certain scarce things like genuine intellectual status, authentic power, or entry into elite social rooms.
- Wolfers links this scarcity to wealthy people's attempts to ingratiate with elites, explaining craven behavior.
Media Ownership Becomes A Strategic Liability
- Owning a prominent media outlet became riskier when political leaders weaponize economic leverage against media owners.
- Wolfers says Bezos faced a trade-off: protect Amazon's core business or defend the Washington Post at greater personal cost.
Dollar Moves Are Just Price Signals
- Calling exchange-rate movements 'strong' or 'weak' adds unhelpful emotion; it's simply a price change for goods.
- A cheaper dollar makes imports pricier but boosts exports and domestic jobs, so trade-offs matter.