The economics of envy

Here’s a typical bit of leftist rubbish: Wealth concentration near ‘levels last seen during the Roaring Twenties,’ study finds. Such studies, and no doubt accurate to the third decimal. But suppose we just change the heading a bit:

Wealth levels near ‘levels last seen during the Roaring Twenties,’ study finds

Take the bottom ten percent today and their standard of living is much much higher than the top ten percent was then. They eat better, have better transportation (say cars and roads), improved entertainment (and right in their own living room) and live in larger, more spacious homes with an endless increase in labour-saving gadgetry.

The level of income inequality is invisible. It requires someone to try to measure two entirely different populations in entirely different periods of time, when in neither there are statistics that will actually measure what they are trying to find. But even if you could measure income inequality, so what? There will always be rich and there will always be poor. The rich today undoubtedly have more goods and services at their command than did the rich in the 1920s. But so do the poor.

What does not change is the level of envy among a large proportion of the population who are made bitter by the success of others. Envy is the worst of the seven deadly sins and there is no known cure. But the envious are everywhere and will take their revenge on the rest of us if they can.

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