August 01, 2007

Economic Inequality


So, in a fictitious country, we have 99 people who make $20,000 annually, and 1 person who makes $100,000.

Technology then breeds efficiency, and a greater net total of value is created.

Now, 99 people make $30,000 annually, and 1 person makes $1,000,000.

Is this better than before? Yes.

But, there is actually a greater amount of economic inequality than before.

The point is, that there is nothing innately wrong with 'economic inequality'. There is something wrong with poverty, but one does not necessarily beget the other. Are we on the same page?

2 comments:

Anonymous said...

plug for communism.

Eric Olsen said...

your insertion or mine? 'cause mine was definitely meant to argue for the opposite.

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