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The American billionaire Kirk Kerkorian, who has died aged 98, made his money in the risky, impetuous business style that John Maynard Keynes called the “casino” economy. In Kerkorian’s case this was done literally - by building three vast hotel-casinos in Las Vegas. His interests also extended to airlines, film studios and motor manufacturers. Earlier in his career, wartime Britain had benefited from his fascination with aeroplanes and readiness to take a gamble. He never made speeches, rarely attended board meetings and was often not even a board member of companies he bought and sold.


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