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There is much talk these days about the growing disparity between the rich and the poor.
I find it worrisome as well. I have two questions;
1. Do you think that it is a bad thing? and
2. If you think that it is a bad thing, then what should be done about it?
THE SEVENTH DWARF (CARTOON)
14 hours ago
In the middle fifties the US was infected with a malady referred to as “keeping up with the Joneses”. If the Joneses had wall to wall carpeting (a luxury at the time) then I wanted it too. If they were a two care family I wanted two cars. If they had central air condition then, of course, I had to have it as well, and the list goes on and on.
ReplyDeleteSo from an economic point of view a wealth disparity has caused individuals to work harder to have what others have (and that they want to have). For economic growth a good thing.
On the other hand if we all could afford only 1 car (the Joneses too) then we might work less and enjoy life more. I would say that is a good thing as well.
I am going to stop here since my comments are beginning to sound a lot like Karl Marx and that scares me.
I think the question today is whether the disparity is getting too great. Even some wealthy people worry about this.
ReplyDeleteIf those in the middle can't make ends meet, then you might get a whole lot of people who would start to sound like Karl Marx.
To the original question – is wealth disparity a bad thing? My opinion is no since I have yet to hear a compelling argument that Bill Gates’ 50B worth has a negative impact on my ability to buy a hot dog.
ReplyDeleteApparently my original question was not clear. I agree that disparity is not, in and of itself, a bad thing.
ReplyDeleteDo you think that the fact that the disparity is growing is a bad thing?
OK, my wife will gladly tell you, and she is not alone, that I often answer the wrong question. As I appear to have done here.
ReplyDeleteSo, is the growing disparity bad. Assuming that growing disparity is true (and it seems so) then I would have to say that is a concern, bad if you wish.
That brings us to question Number 2 - what to do about it, which requires problem definition (rising disparity is a symptom) and finding agreement on the problem would be a most difficult and possibly impossible task.
So, to avoid being totally evasive on question two I will share something my Dad told me about the time I graduated high school. “If you want to make a lot of money don’t work for someone else”. Not bad advice and a possible suggestion (for question 2) would be to foster the notion that - if you don’t like your pay check do something about it. The rich people did.