Contrived Inequality and Equality-Becker
The media and many intellectuals have greatly criticized the large growth in inequality during past 30 years in countries as different as the United States, China, and Brazil. Yet people in all countries generally accept, and usually admire, differences in incomes and wealth that they believe result from abilities and hard work, and where the work done by the wealthy is considered socially valuable. For example, the great wealth of a Steve Jobs or Bill Gates is little criticized because they were brilliant at what they did, and they added a lot to social value. On the other hand, objections...
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