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Politics : Formerly About Advanced Micro Devices
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From: TimF11/12/2011 12:46:09 PM
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You can't have a wealthy society without some degree of inequality. If everybody has the same income, that means that nobody is experimenting with new methods of production. Experiments in new methods of production are either successes that enrich the innovator or failures which cause a capital loss. The result is income differential. Equality is stagnation. Inequality is dynamism.

Many of the Occupy Wall Street protesters don't understand that the economy is not a zero-sum game. Some people getting richer doesn't make us poorer. You have to choose whether envy or prosperity is more important to you. If you choose envy, then you will cheer reductions in income inequality even if it makes us poorer. If you choose prosperity, then you must put up with a little inequality in exchange for living in a richer society.

jacobexmachina.blogspot.com
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