This is a popular talk that I've given several times. Each time (as here) I update the data. Over the course of a decade, the data double-down on the same story: income inequality is not the problem we tend to think it is.
Becoming financially secure is too boring for most people. They'd rather pretend to be kings and queens and cry "inequality" while they spend the evil billionaires' money that they continue to borrow.
I think most of those who talk about inequality blow all their money. When stats say most middle class earners can't come up with $400 for an emergency, that ain't billionaires' faults. They never have a problem coming up with the dough for non essentials.
Isn't freedom a better word than equality of opportunity? When everyone is free to pursue what they would like to, some people will also discriminate. For example if a feminist hires he/she might prefer more women over men and vice versa. The equality of opportunity is not there in both the cases. But there is freedom for those who hired and those who are not hired. if they discriminate and selected an inferior candidate, the employer pay the price for that discrimination. Isn't this violate equality of opportunity, but still protect everyone's rights and ensure prosperity as well as fairness?
While the creation of products and services can indeed generate wealth, income inequality is not solely determined by individual productivity or the value of one's contributions. Factors such as access to education, inherited wealth, systemic biases, and unequal distribution of resources also play significant roles in shaping income inequality. While some wealthy individuals do create products and services that contribute to economic growth, the concentration of wealth among a small portion of the population can still lead to disparities in opportunity and access to resources for others.
While products and services do contribute to the economy and society as a whole, the distribution of wealth generated from these transactions isn't always equitable. Income inequality arises due to various factors, including disparities in wages, access to education and resources, systemic biases, and policies that favor certain groups over others. While the economy benefits from the creation and exchange of products and services, how the profits and benefits are distributed among different segments of society can significantly impact income inequality.
Antony left out something important: this really boils down to jealousy. If I go from having no car to having a Corolla, and my neighbor goes from a Corolla to a BMW, instead of being happy for both of us, I'm angry.
I tend to agree. When we talk about inequality in this country, we do so by comparing ourselves to the few hundred billionaires instead of comparing ourselves to the billions of people who earn a tenth or less of what we do.
@@AntonyDavies That's what happens when you let the Gini out of the bottle. ;-) (By the way, I emailed you yesterday via the email address provided by RU-vid.)
I'm not sure about this. The Founders' conception of equality stemmed from natural rights. One can invoke God as the source of natural rights, but invoking God isn't necessary. Atheists can as readily believe in the existence of natural rights.
@@AntonyDavies To say "all men are created equal" at least hints at a creator. As an atheist, it doesn't bother me to believe the founders may have thought natural rights were bestowed by God, certainly to voice such a formulation would have been more socially acceptable, and even in the current day, easier to promote to the population at large. But either way It's clear the idea of equality refers to some aspect of a person that is not material but rather a product of moral self awareness, that which differentiates “men” from animals. The word “soul” seems ideally suited to describe such characteristics.
@@forddon I'm with you. As a theist, I'm cautious about invoking God when it comes to matters touching on politics. History is replete with people of ill-will who would invoke God as a means of attaining power, and people of goodwill who are too ready to hand them that power.
@@AntonyDavies most of the founders if not outright Christian were Deists, no? They probably envisioned an actual creator entity. That said, the application absolutely applies to the atheist the same as the Christian, as you say. I'm a very big fan! I've watched most of your videos, Words and Numbers, and even when you're a guest on shows like Sitch and Adam. Thank you for everything !
