Thursday, December 28, 2006

More on Economic Disparities

People in the media, in academia and among the intelligentsia in general who are obsessed with "disparities" in income and wealth usually show not the slightest interest in how that income and wealth were produced in the first place.

They are hot to redistribute the existing income and wealth but seem wholly unaware that how you do that today can affect how much income and wealth will be produced tomorrow. Any number of schemes for redistributing wealth have ended up redistributing poverty in a number of countries.

From economist Thomas Sowell.

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home