Replies to post #91166 on Tornado Alley (PROG)

[woofer]

I skimmed through your article but will read it again when I'm more wide awake. Off the top of my head though, I think the biggest problem is that we have been brainwashed into the type of thinking that says it's fine, even necessary for a CEO to make many millions of dollars in a year's period of time, and it's also fine to fight any increase in the minimum wage. That's the simplified version of my thinking.

[wall_rus]

What you have to ask yourself is what kind of society you want. Some talk as if income distribution was an absolute determined by free market forces. That's nonsense.....it is ALWAYS engineered....one way or another.

The heart of it, imo.....from your article:

Inequality of wages and incomes is clearly bad if it results from government privileges. Many people would find such an outcome unjust, but even more important to many economists is that such inequality sets up perverse incentives. Instead of producing valuable products and services for their fellow citizens, as people tend to do in free economies, people in societies based on government-granted privileges devote much of their effort to pleasing, or outright bribing, government officials.