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6min chapter
Equality & Envy
The Genius of Thomas Sowell
The Pursuit of Equality in the Economy Is a Myth
Seoul: Pursuit of the vision of equality does in fact harm society. Employers hold back from offering pay incentives for people to do their best work and be most productive. The passion to reduce income inequality leads over time to an increase in political inequality. When government sets out to quote unquote redistribute wealth, it by necessity takes power away from market participants - instead concentrates power in the hands of politicians.
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