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anotherblackhat comments on Harry Potter and the Methods of Rationality discussion thread, part 18, chapter 87 - Less Wrong Discussion
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The P.S. doesn't grant unlimited wealth, it grants unlimited gold and/or silver. A large part of the value of Gold is related to it's scarcity, so teaching others how to make stones would affect Flamel's personal wealth - oh, and probably destroy society too. And making everyone immortal includes the Voldemorts, the Grinwalds, and Baba Yagas of the world. and it's not like he personally is killing those people...
See how easy it is to rationalize letting everyone die? And I came up with those in just a few minutes - imagine having six centuries to make excuses.
People already have well-known, cached thoughts excusing why rich people who don't share their wealth are not evil, and why death is really good and shouldn't be avoided. One doesn't need to think about it for centuries, just ask Dumbledore.