
Capitalism Promotes Equality - kardashev
http://fee.org/freeman/capitalism-promotes-equality/
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vannevar
For a professor of economics at a major university, this is a remarkably
shoddy piece of thinking. The author finds great significance in the fact that
Tom Brady's diet is about the same as the average American's. How about Tom
Brady's health care? If he gets cancer, will he likely be bankrupted by it? Or
his financial security---if he can no longer work, how much will his lifestyle
change? Other examples are similarly flawed: he's impressed because his new
Suburu is almost as good as a Mercedes! Well, perhaps he should try driving an
'88 Corolla with no muffler and 300,000 miles on it for awhile.

The debate over income equality isn't about a falling standard of living in
any absolute sense. It's about how the world's increasing wealth is
distributed. And more and more of it is going to the top 1%, despite the
complete absence of any evidence that they are actively generating a greater
proportion of it than they have in the past. The reality is that wealth gets
distributed along social networks, and the idea that this distribution
corresponds to value actually created is a fantasy.

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peterashford
He also ascribes all progress made over time to Capitalism ignoring that
science and technology improvements have occurred everywhere throughout time
with and without Capitalism. Very shoddy argument.

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kup0
A rather blind post in which he demonstrates more inequality than he does
equality.

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cuchoi
Capitalism is the only way to develop science and technology?

