Wealth. Mind the gap.
The concept of wealth redistribution is one that EVERYONE supports. I can hear the grumbling about such a claim here. The question is a complex one. It has a lot to do with the gap that exists in the society you are in, your position specifically in society, your own level of wealth relative to the society you are in and how the obtained level of wealth was attained
Let us start with some extreme examples as they prove the original statement.
1) You live in a society where there exists one family who has 99% of the wealth in the country while everyone else starves. Surely you would not find this a just and fair society and would not be overly concerned (i.e. would support) the redistribution of wealth.
2) You work hard all your life and build up a good pension through your own hard work and frugal life style. You worked hard every day and weekends to build up a good retirement pot and one day the government in your society decides that your pension pot should be redistributed to people who have not saved and spent every penny they earned as they have no pension. Your wealth is redistributed.
I suspect the majority would support wealth distribution in example 1 but not in example 2. Both occur in societies across the world to some extent at some times. Certain extreme examples have left those with wealth having more than their money taken away. They lose their lives.
Where is the right line? It is a hard balance. But what is clear is that nobody likes extremes. People who make too much money in too easy a way at the negative cost to others tends to put us close to that line. This is why the banking problems have caused so much attention. We were all happy for the bankers to make their billions as they spent it on expensive properties and goods and the money flowed. But now it has proven to be a house of cards we are not so keen and are looking for 'wealth distribution'. Our consistency in thinking here is very poor and shows a strong connection to our personal situation.
But the government needs to remember. Wealth redistribution only works if their is wealth to redistribute. Governments do not generate wealth. Business generates wealth, moving money generates wealth and for that we need not only banks but successful banks. And for that we need successful bankers. Successful bankers do not grow on trees.
Let us start with some extreme examples as they prove the original statement.
1) You live in a society where there exists one family who has 99% of the wealth in the country while everyone else starves. Surely you would not find this a just and fair society and would not be overly concerned (i.e. would support) the redistribution of wealth.
2) You work hard all your life and build up a good pension through your own hard work and frugal life style. You worked hard every day and weekends to build up a good retirement pot and one day the government in your society decides that your pension pot should be redistributed to people who have not saved and spent every penny they earned as they have no pension. Your wealth is redistributed.
I suspect the majority would support wealth distribution in example 1 but not in example 2. Both occur in societies across the world to some extent at some times. Certain extreme examples have left those with wealth having more than their money taken away. They lose their lives.
Where is the right line? It is a hard balance. But what is clear is that nobody likes extremes. People who make too much money in too easy a way at the negative cost to others tends to put us close to that line. This is why the banking problems have caused so much attention. We were all happy for the bankers to make their billions as they spent it on expensive properties and goods and the money flowed. But now it has proven to be a house of cards we are not so keen and are looking for 'wealth distribution'. Our consistency in thinking here is very poor and shows a strong connection to our personal situation.
But the government needs to remember. Wealth redistribution only works if their is wealth to redistribute. Governments do not generate wealth. Business generates wealth, moving money generates wealth and for that we need not only banks but successful banks. And for that we need successful bankers. Successful bankers do not grow on trees.
posted by So long and thanks for all the fish at
8:12 pm
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