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Income inequality is a sign that an economy is functioning properly. For people vary greatly in their talents, ambition, tolerance for risk, vision. Some can le
by stretchwithme 7y ago
Income inequality is a sign that an economy is functioning properly. For people vary greatly in their talents, ambition, tolerance for risk, vision. Some can lead, delegate and inspire, while others cannot.
Some are great at collaboration, others love confronting difficult challenges. Some are great at squeezing suppliers and others good at pushing people to adopt the next wave of technology. Some know exactly what people want and others are incredibly creative. Some never stop learning.
Some do none of the above and only want everything defined for them with no risks or growth required.
How could anyone analyze all of this incredible variability and decide whether people get too much money for their contributions?
Income inequality rewards the development of all of those qualities.
- deleted 7y ago[deleted]
- woander 7y agoIncome inequality can also be a sign that an economy is functioning improperly. North Korea, Soviet Union, Zimbabwe, Venezuela, etc all have income inequality. I don't think anyone would say their economies are/were functioning properly. > Income inequality rewards the development of all of those qualities. Not necessarily. Your statement would be true if every generation started a 0, on equal footing and the system/environment was fair. Would you say that income inequality in Confederate South was a result of rewarding "talents, ambition, tolerance for risk, vision"? Income inequality is a very complex subject. People who try to frame it in a simplistic black and white worldview really do it a disservice.