CHAPTER 7

Reframing “Inequality”

In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of.

—Confucius

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first less of economics.

—Thomas Sowell

There seems to be an inordinate amount of discussion about “inequality” in society, even though it focuses only on ratios of financial income between cherry-picked examples. When the social media hordes opine on this subject, there is often a comical inability to distinguish income and net worth. Even worse, when people in positions of power address the topic, there is ...

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