Tim Worstall over at the ASI says that we don’t need to worry about inequality as the hated neoliberal economics will work its magic and drive out inequality. Wages in China have been going up because of it and eventually they won’t have poverty and there will be less inequality.
The left are fixated on monetary inequality – because they see everything in terms of money, the haves and the have nots, those working to get money and those getting money from the workers. They see the very small number of very rich people and the large number of poor people and think that equates to inequality.
But is inequality all about money? It could be argued that we are very equal. Everyone, and I mean everyone (bar a very small number), have a TV, a fridge, a cooker, a roof over their heads, warmth, water, food, etc. There are differences in the size of TVs, the size of the fridge, etc. But everyone has the basic needs.
Do we really need to bother ourselves about the such inequality as the size of our TV?