Tuesday, July 24, 2018

Is it possible to have an economic model which enables the fair distribution of wealth?

Is it possible to have an economic model which enables the fair distribution of wealth?
Excerpt: We already have that. It’s called capitalism.

If my skills allow me to make $10 per hour, and your skills allow you to make $100 per hour, then a capitalist system allows both of us to earn the maximum amount of wealth that we are able to.

That’s literally the most fair distribution of wealth. No limits. No ceilings. I got my $10, you got your $100, and neither of us were limited by anything but our own individual abilities. It doesn’t get any more fair than that.

If you’re talking about a system where I get some of your $100, that isn’t a fair system at all. You earned that $100. I didn’t. There’s no scenario where it’s “fair” for me to take money out of your pocket and put it into mine.

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