Wednesday, January 25, 2012

Does unfairness cause economic depressions?

If you believe the current conventional wisdom, you probably would agree with that.
This is how Obama can win an election on the theme of "fairness".



Contrast the above video with the post here, which is about envy. If envy can prevent everybody from benefiting, then the reverse argument can be made.  The reverse argument is counter intuitive: an economic depression can be caused by the pursuit of equality.

An example?  How about the government forcing loans to be made which cannot be paid back?  If this is done in the name of equality, such an act can bring about an economic disaster, such as the one that occured in 2008.  The pursuit of equality led to that outcome and could be said to have caused the recession.

That is so counter paradigm that a lot of people will never accept it.

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