But no generation starts from square one. We are not equal in intelligence, talent, temperament, athletic prowess, parentage, or other kinds of fortune. It is arbitrary to fasten on property as the culprit. If property means anything, one can dispose of it by testament after death. That is not to deny that society has some stake in regulating wealth tranfer. For example, primogeniture was a socially baneful practice. But it is is to say that a balance between property rights and social goods must be struck.
As for what capitalism can accomplish, it appears that it can improve the living standards of most citizens without special mechanisms, which is a great deal. Now, it may be that there are some elements of a welfare state that are useful, but that is only because the market generates so much wealth, in the long run, that it can afford to channel substantial sums into improving public spaces and easing the lot of the poor. |
