Leftist Narrative on Inequality Is Debunked by Academic Evidence
June 15, 2015
The proper view on inequality is that it doesn’t matter.
That assumes, of course, that people are earning their income honestly rather than via government-enabled cronyism.
To elaborate, some people will become rich in a system of honest and competitive markets, but that’s not at the expense of the poor. Indeed, the talents and skills of top investors and entrepreneurs generally make life better for the rest of us.
So if we want to help the poor, we shouldn’t attack the rich. Instead, we should pursue policies that will allow faster growth. That benefits everyone, particularly those on the bottom of the economic ladder (though there also are some specific policies that are disproportionately helpful to the less fortunate, such as school choice).
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