Does Inequality Matter?

"This study argues that, for those of us who care about the
welfare of the poorest and the most vulnerable, income
inequality is not a useful measure. Measures of income
inequality tell us nothing about the living conditions of the
poor, their health and their access to economic opportunity.
Income inequality can easily increase in societies in
which everyone, including the very poorest individuals, is
becoming better off. Conversely, a reduction in inequality
can be associated with deterioration in the living conditions
of the less well-off members of the society"

from "Does Inequality Matter?" Dalibor Rohác, Adam Smith Institute Briefing Paper



HT NCPA

Economic Freedom and the Quality of Life

Infinite Resources

"The cavemen had the same natural resources at their disposal as we have today, and the difference between their standard of living and ours is a difference between the knowledge they could bring to bear on those resources and the knowledge used today."

-Thomas Sowell, Knowledge and Decisions 

HT Carpe Diem


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Legal Plunder

I have yet to receive a convincing answer to the following question:

If it is wrong for your neighbor to come to your house and demand you pay for his health care, why is it ok if the whole neighborhood gets together and makes the same demand?

Why not use spoons?

Milton Friedman was once taken to see a massive government project somewhere in Asia. Thousands of workers using shovels were building a canal. Friedman was puzzled. Why weren't there any excavators or any mechanized earth-moving equipment? A government official explained that using shovels created more jobs. Friedman's response: "Then why not use spoons instead of shovels?"

Because:

Doing more with less is the road to prosperity.

Read the rest of the article:

Obama vs. ATMs: Why Technology Doesn't Destroy Jobs  Russ Roberts, WSJ, 6-22-11

Update: Another good article on this same theme: Obama the Luddite: Friend to Labor Unions, Enemy of Job Creators


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