Saturday, November 5, 2011

Egalitaria

Having watched this video at Third World County (I still can't believe this got shown on PBS), I realize it's WAY past time to post this quote on the insanity of the "income inequality is SO unfair" argument:

EGALITARIA

All Egalitarians are educated publicly up to the age of 21, with no opportunity at this stage to earn enough to save.

All men then work for the same wage till 65, when they retire on full pay; women work for only 20 non-childbearing years, but in those years get equal pay with the same pension rights.

Inheritance is forbidden. But all earners and all pensioners save exactly 10 percent of their incomes, which savings are invested in state bonds yielding 10% compound interest.

This rather high rate perhaps compensates for the absolute embargo on all capital appreciation. The roundness of the figure also simplifies the arithmetic, as do two further stipulations: that the net reproduction rate has been unity for the past 85 years; and that everyone dies on their 85th birthday.

So how much of the privately owned wealth in Egalitaria is owned by the richest 10% of the whole population?

The answer seems to be that the wealthiest 10% of Egalitarians (who by definition are all the men aged from 68 to 84, inclusive) must now own about 74% of the privately owned wealth."

-Antony Flew, "Thinking Straight," p.91

No comments:

Post a Comment