Tuesday, December 26, 2006

Obsession with Income Disparities

Nobody knows how to make a simple lead pencil - there is no single individual anywhere who knows how to grow the wood, mine the graphite, produce the rubber, and manufacture the paint.

If you cannot understand something as simple as making a lead pencil, why should you be surprised that you don't understand why someone is making a lot more money than somebody else? And often this obsession with income disparities means that somebody ought to "do something" to change what you don't understand.

Usually that means that the government -- politicians -- should impose policies based on your ignorance of what is going on. Can you imagine anything more dangerous than allowing politicians to decide how much money each of us can earn?

From Thomas Sowell's latest column,
read more here.

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