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RE: Why Inequality is bad: The Economic Explanation

in #life5 years ago

Inequality is inherent, and that is a fact of life unfortunately. In historic days physical size and strength (of males) were most valued, and so the largest and strongest became the leader. Of course even then intelligence was of high value, but the brute 'kept' individuals of learning and intelligence as his advisors (kings that could not read).
In the modern era (at least in developed nations) intelligence is the high valued attribute, of course to become Mark Zuckerberg you also need some education and a hunger for power, but people of intelligence do better overall.

We can look at wealth inequality and sigh that its unfair, but wealth inequality is a symptom, people amass wealth because they can, not because they must. Of course those with more wealth tend to gain more wealth and this accident of birth is what I think most people find brutally unfair, a person of average intelligence can be born a billionaire, while a genius never gets the break to make their fortune. In this case it seems the only logical solution is inheritance limitations. Perhaps tax is not the way to do it, perhaps we do what crypto does naturally, on death private keys become lost and coins are burned forever...

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