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You're basically saying - In a country of 100 people, concentration of wealth is great. Concentration like for every 100$, 5 people taking 95$ and the rest 95 t

You're basically saying - In a country of 100 people, concentration of wealth is great. Concentration like for every 100$, 5 people taking 95$ and the rest 95 taking the 5$ is fine. Your rationale seems to be the fact that the 95 people have more than 5$/95 than before. Now, you keep accelerating this and you'd notice a 99-to-1 ratio eventually. It's interesting that you call this dignity and well being. You're basically saying that the time spent by the 95 people is orders of magnitude less valuable than the time spent by the 5 people.

naruvimama 5y ago
The value of time spent by the people is called productivity. We should be more concerned with the productivity. This is especially true with developing countries where people are mostly employed in backbreaking manual labor. Sometimes it is due to lack of skills and many a times due to lack of industry or ecosystem. Inequality is a great talking point for socialist but isn't an important metric. Inequality is inevitable in a highly competitive and fast growing economy. Just productivity improvement is a great measure of how well the economy is doing. For developed countries productivity improvements is difficult because it only comes about from innovation. For developing countries it can be had from just adoption of existing technologies.