Tuesday, May 5, 2009

Redistributing Wealth

It is tempting to feel indignant when seeing sharply skewed distribution of wealth.

One feels compelled to act.

But one must be careful.

It is important not to justify one's actions, especially harsh or unreasonable ones, with a sense of righteous indignation.

In recent history, property owners of all kinds, including of intellectual property, had suffered under the heavy hands of social justice.

They could have been punished for knowing how to operate the prevailing system well.

It is important to learn how to play the game, or improve it, instead of trying to create a completely new system.

Do tough times justify calling for strong leaders?

Strong leaders can be kind - or cruel.

It is better to redistribute wealth through a system that promotes fairness and opportunities for all.

3 comments:

walla said...

As another'56er, i should move on.

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etheorist said...

walla,

I'm happy to be accompanied by another '56er!

Nice to know.

Your further readings are excellent.

I only wish I have time to read all!

Thanks again.

walla said...

Glad to help.

This place is starting to look like a 'sagacious blog site'.

If those who come and enjoy your thoughts can also enjoy the supplementing links, maybe they will also write something to leave behind for others... on the premise that

"what given when young are taken back when old."

I look forward to your economics insights on the above.

Now reading Inside the Economist's Mind (ed: Samuelson and Barnett).