It’s the Inequality Stupid

In: Employment Finance Politics US Economy

22 Feb 2011

“Eight charts that explain everything that’s wrong with America”, from Mother Jones. (Thanks to Matt Brown for the link!)

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4 Responses to It’s the Inequality Stupid

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Matt

February 22nd, 2011 at 11:45 pm

Ah, equality. Wouldn’t it be great if we all made the same income and no one had more than anyone else? Wait, it wasn’t great. It was called the Soviet Union, Cuba, or China until a few years ago. The truth is if we take income out of the picture, something will be used to create inequality. Force will be used for power, because greed is in our DNA. With no income inequality, the powerful would still ride limos to their offices, while the rest of us rode our bikes to the factory.

Voluntary exchange is the only legitimate means to obtain wealth and power.

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Zack Woodson

February 23rd, 2011 at 11:20 am

Yes, because the only possible alternative between unprecedented levels of inequality is total coerced income equality. What other false choices would you like to make here? How about, “either we all have to outlaw abortion in every circumstances forever, or else every woman will be getting abortions for convenience on a daily basis?” I’m just spitballing, you’re the expert here.

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Matt

February 25th, 2011 at 11:56 am

“Yes, because the only possible alternative between unprecedented levels of inequality is total coerced income equality.”

Coercion is the only tool the government has, and I don’t think MotherJones is pushing for a free-market approach.

Who gets to decide on the “right level” of inequality if you believe our current democratic system is incapable of producing the “right level”?

You really think it matters to the low man on the totem pole if the top guy has 10 times at much vs. 100? You think he’ll be satisfied at 10?? You think Lenin and Castro were? There was a lot less inequality in those societies and they used coercion to “eradicate” it.

The truth is, Capitalism has ultimately produced one thing: a better, albeit unequal, life for *everybody* (look at China, for crissakes!). Given the imperfection of man (corruptibility), that’s the best we can hope for.

Take away one’s ability to get wealthy in the free market (creating value), he will try to get wealthy at the expense of others (rent seeking and downright theft)!

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Dick Fitzwell

March 1st, 2011 at 5:32 pm

Very misleading. What does it mean to have your share of national wealth increase? Absolutely nothing. If wealth was a static number or our total national measure of wealth was always a zero sum situation, then you would have a point. But it is not. We, as a whole, have more wealth today than we have ever had. Just because the percentage of the wealth that you control is smaller, does not mean that you are poorer.

Let me ask you this: would you rather have 1/2 of one pie or 1/3 of another pie that was twice as big?

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