This holds for rare, luxury goods and limited markets (like housing). But the concentration of wealth in a minority AFAIK doesn't seem to bid up large markets like corn or paper.
Consider the example given by creamyhorror below - the influence of money in the political process.
What if besides having a disproportionately high number of points on HN, you had the power to influence the creators of HN so that a percentage of all the points on HN went to you? Or, what if you had millions of points on HN and were able to convince the makers of HN that you should be able to vote on HN with only 0.5 points per vote?
This holds for rare, luxury goods and limited markets (like housing). But the concentration of wealth in a minority AFAIK doesn't seem to bid up large markets like corn or paper.