Trying to expand upon a really good article by William L. Anderson at the Mises Institute: “Yes, Heather Cox Richardson Is Economically Illiterate – And Proud of It”
Bill notes how using wealth inequality as a measure for economic health is a major problem. I talk about his conclusions and try to expand on them a bit.
Not only does the attempt to redistribute the “surplus” created by innovators and entrepreneurs discourage them, it also builds a larger unproductive bureaucracy. This process can turn nasty very quick, as it did during the Holodomor.
Inflation also takes buying power away from the poor and gives it to “winners” chosen by the government. Generally, they are not the best shining examples.
Full show notes here.
My article on incentives and public waste here. It was written with reference to Modern Monetary Theory, but its arguments can be applied more widely.