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Wednesday, October 16, 2013

THERE IS NO SUCH THING AS INCOME INEQUALITY


There is no such thing as income inequality. Income inequality is a faux concept conjured by academicians. 

 Income means wages through time. Any wage is a price.

Anyone working sells skills through time and buys wages. Robert Downey Jr. has a higher income than you because his skills expressed through time — his acting — are in much higher demand than yours. People are willing to pay winning bids for his skills at a much higher rate than yours.

There are skills inequality — Downey can act on a global scale — and you can not.
The true cancers killing the tree of goodness are Crony Politics, Crony Governance and Crony Regulatory Capture.