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by ChrisLTD
5143 days ago
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It's not about punishing success, it's about realizing that the market is not perfect at distributing wealth, and that wealth is not created in a vacuum. To the first point, are bankers, the founders of instagram, athletes, and movie stars really contributing so much to the world that they are worth hundreds of doctors, or thousands of teachers? To the second, would you be successful if it weren't for those doctors, teachers, garbage men, police officers, mail carriers, etc.? |
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People are paid what the market says they are worth, at least in the private sector. There's only one LeBron James and only one Bill Gates. They may stand on the shoulders of giants, but they each provide more value than what it costs us collectively to have them entertain us and create software. That's called consumer surplus. Mass markets produce mass income disparity- the few winners get the fat end of the distribution curve- but we would be far worse off with out that consumer surplus they provide.