Illusions of Inequality

Illusions of Inequality March 5, 2008

A while back I promised that I would write a post on markets and the universal destination of goods. That post will probably have to wait a while, I’m afraid. But as a down payment, I offer this intriguing two part essay by John Nye, an economics professor at Washington University. Prof. Nye starts by asking us to

[i]magine a system where the efforts of the richest people in the world greatly expand the range and quality of goods and services available to most people—oftentimes at the expense of those groups at or near the top of the income ladder. Imagine a system where wealthy capitalists and ambitious innovators work day and night on projects with little chance of success, all at their own expense. Sometimes, even to the point where even the most successful among them manage to capture only a small part of the benefits while the rest goes to the average man or woman in the street. In their own lives they have the privilege of paying more for goods that they always would have bought, while the poorest get better, more numerous, and more widely available goods at cheaper prices than ever before.

He then goes on to argue that “in the real world, no system would come closer to implementing the most important parts of this scheme than market capitalism.” It’s definitely worth a read.

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  • Matt

    Blackadder,

    your posts are always far more balanced than the lefties that run this blog. It’s a real shame that they attempt to stifle the debate by selectively “moderating” posters who disagree with them? I’ve never seen that done on a Catholic blog like this. It really exposes the bankruptcy of their position.

    God Bless,

    Matt

  • Blackadder

    I think your being on moderation has less to do with the fact of disagreement (there’s plenty of that on this blog) than with the perception of rudeness in some of your comments.

  • TeutonicTim

    BlackAdder – I too like to see your posts, and think your addition as a contributor strengthened this blog.

    It would be only too nice if some of the contributors were as kind as Matt.

  • jonathanjones02

    I tend to think jonathanjones02 is good. 🙂

    Seriously though, I enjoy Darwin and StuartBuck in the boxes. All you guys contribute well. We’ve got a good group. Internet argument can be a fun distraction where sometimes you even learn something.

  • Matt

    Blackadder,

    if you trace my responses they rarely approach the rudeness of the posts I respond to. Look at some of the nastiness from Politicratus, HK, MM, Michael I, etc. they may wrap their insults with false-intellectualism, but they are very rude indeed.

    God Bless,

    Matt

  • While we’re all thanking Blackadder — thanks for the reference to EconTalk. I’ve been listening to several of their podcasts and really enjoying them. Now if I only had more time in the day…

  • Blackadder

    Darwin,

    EconTalk can be very addictive. You’ve been warned. 🙂