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"When those far removed from the creation of wealth-- undergraduates, reporters, politicians-- hear that the richest 5% of the people have half the total wealth
by gallerytungsten 15y ago
"When those far removed from the creation of wealth-- undergraduates, reporters, politicians-- hear that the richest 5% of the people have half the total wealth, they tend to think injustice!"
Your comments preceding and following this sentence suggest that injustice doesn't enter into the equation.
But on the contrary, anyone who's paid attention the past 30 years is well aware that inequality has increased greatly, and that the main reasons are various forms of carefully calculated injustice, such as:
1. Regressive tax policies shifting the tax burden from the wealthy and the corporations to the middle class.
2. Mass wealth transfer scams such as the housing bubble and the S&L scams of the 1980s.
3. Massive spending on foreign wars which benefits a very narrow slice of weapons companies and related businesses - that money could have gone to build up the wealth of the nation, in the form of infrastructure, education, etc.
4. Massive deregulation of the financial industry, which allowed many Wall St. scams to proceed without hindrance.
The glib thinking exemplified by the quoted sentence is typical of "libertarian" ideology that doesn't expend much energy on thinking about the problems cited above.
- pg 15y agoYou didn't refute what I wrote. You just quoted me and used it as a jumping off point for a rant of your own. This is why I ask people who think they disagree with something I've written to find something I actually wrote and refute it. Otherwise more often than not they are (as you are here) arguing against something they mistakenly believe I said rather than something I actually did say. What I said in the sentence you quote is that a lot of people automatically assume that economic inequality is due to injustice. I never claimed it never is, and in fact it's pretty clear from e.g. this passage I think it often is: "There are a lot of ways to get rich, and this essay is about only one of them. This essay is about how to make money by creating wealth and getting paid for it. There are plenty of other ways to get money, including chance, speculation, marriage, inheritance, theft, extortion, fraud, monopoly, graft, lobbying, counterfeiting, and prospecting. Most of the greatest fortunes have probably involved several of these."