There Is No Income Inequality
Let us make one thing clear right now: there is no such thing as income “inequality”. There are income differences, but no income “inequalities”.
The very term “inequality” has been constructed to imply a moral content in differences between people’s incomes (or wealth). Every time we use the term we imply – deliberately or inadvertently – that income differences are problematic and need to go away. But if the premise of any discussion of income differences is that the differences are somehow immoral, then there really is not going to be a dispassionate conversation about those differences.
There is a crucial distinction distinction between “income inequality” and “income difference”. The former term, again with its moral content, implies that there is a role for economic policy – in other words government – to play in how people earn their money. This involvement, in turn, would come in the form of…
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