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Economic diversity and achievement good for society
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Human Events
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August 20, 2001
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Copyright informationCopyright Human Events Publishing, Inc. Aug 20, 2001. Provided by ProQuest LLC. (Hide copyright information)
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Much Class Warfare Based on Dubious Egalitarianism
In recent years, a number of left-wing economists have argued that inequality per se is harmful to many people's health. That is, the mere fact that some people are gaining income and wealth is harmful to others even if the latter's income has not fallen or has risen more slowly.
This argument is being used to justify income and wealth redistribution policies even when it results in slower economic growth or less national wealth.
Most economists have long believed that one's absolute level of income or wealth is the key to well-being, not his relative position. For example, suppose there are only two people in society and both start with ...
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