Thursday, January 31, 2013

Anti-capitalism myth: Income inequality is immoral

In this forceful effort, business ethics professor Jaana Woiceshyn makes a strong case that income inequality is actually a moral, and predictable, outcome in societies where individual productivity varies and trade is voluntary.  Consider that:
Redistributing income from the more productive to the less productive is immoral: it undermines our ability to survive and flourish and is therefore anti-human life. It takes away the producer’s incentive and ability to innovate and create—activities that benefit not only the producer but all those with whom he trades, even indirectly, in the form of better, cheaper products, more job opportunities, and a higher standard of living.
Also aggressively arguing in defense of income inequality, albeit from a different angle, is philosopher Peter Schwartz in an article that originally appeared in the Tampa Tribune in 2007.  Think on this powerful excerpt:
Making others fall does not make you rise. While prohibiting a Thomas Edison or a Bill Gates from becoming fabulously wealthy does indeed reduce income inequality, it does not make the poor richer. Nonetheless, it is what egalitarians desire. They are motivated by what Ayn Rand called "hatred of the good": if they lack something of value, they want to make sure nobody else has it either.