Life and Wealth Accumulation are NOT Zero Sum Games

There will (thankfully) be many more who will refute the stupid idea put forth in Buzzfeed regarding Forbes’ list of billionaires: “These 8 Men Own As Much Wealth As Half The World.”  Here is the first one I came across by Ben Shapiro.  Some quotes from the article (emphasis by me):

First off, there is no indicator anywhere in this report that the wealth of the world’s eight wealthiest men was ill-gotten. There is no record of them enslaving people or robbing banks or burning down rivals’ businesses. The reason these people are rich is because they have founded businesses that created better products and services and engaged in more consensual transactions than any other people on planet earth. Bill Gates’ Microsoft created a reputed 12,000 millionaires among his employees. Microsoft currently employs more than 100,000 people. Microsoft employees have given more than $1 billion to charity. Microsoft products have made millions of lives easier and better and millions of businesses cheaper to run…

…these rich people aren’t prospering at the expense of others. Since 1981, the global extreme poverty rate has been sliced in half. Meanwhile, from 1979 to 2014, the upper middle class in America grew from 12 percent to 30 percent of the population. America’s poor are doing better than the middle class in most places on earth, thanks to the glories of free market economics…

A richer world relies on freer markets both at home and abroad. But the foolish, inconsistent focus on income inequality merely provides cover for policies that enhance human suffering rather than mitigating it.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s