|
One thing I will say is that inequality is not a problem in and of itself. People are productive to varying degrees and it is absurd to strive for perfect equality. Tom Cruise pulls 20 million dollars a picture because he could act in a 90 minute long strip of celluloid where he just makes finger-painting with his own feces and the picture would make at least 20 million dollars in theaters. He's an EXTREMELY productive person in the economy. People who work fast food are getting paid a minimum wage that the left would like to increase to 16 dollars an hour, yet we see fast food restaurants going bankrupt or merging with one another all the time because their profit margins are razor thin at the current rate they pay their employees. Could it be that the dude who takes your order in the drive through is making probably more than his productivity level would suggest?
Inequality is a false issue, the true aspect of society that needs to improve is mobility. Our policies need to provide incentives for getting people to do one or more of the following things:
- find a career
- advance in said career
- start a successful business
- innovate
Those are pretty much the only four things that people can do to improve society. The economic system should encourage people toward doing these things. And as it happens, the profit-and-loss system does this better than anything we've yet to imagine. Policies that disrupt the profit-and-loss system should make up for that by increasing the incentive for people to do one of those four things. Most of them do not.
|