Saw this in the paper today. Not wanting to get political here, but thought I'd share it because it's worth thinking about:
Try a thought experiment ... Suppose society’s wealth trebled overnight without any change in the relative distribution among individuals. Would the unchanged inequality at higher levels of affluence decrease concern about inequality?
Surely not: The issue of inequality has become more salient as affluence has increased. Which suggests two conclusions:
People are less dissatisfied by what they lack than by what others have. And when government engages in redistribution in order to maximize the happiness of citizens who become more envious as they become more comfortable, government becomes increasingly frenzied and futile.
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