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Originally Posted by Chris
A few people have earned large fortunes from nothing. Many more people have earned large fortunes because they had a wealthy, well-connected family to help them get started. Their ability to earn from a similar input of hours and graft is therefore much higher.
Very few people seriously advocate Communist-style wage parity these days - those who complain about massive pay disparity are not doing that. This isn’t a binary argument. And Thatcher, incidentally, seeing as she’s been brought into this, always said she believed in equality of opportunity. A great deal of wealth inequality arises from opportunities being unequal.
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The system, as it stands, cannot be justified by anyone with a moral viewpoint. The system has just been allowed to run too far without intervention. there is no incentive for the wealthy to redistribute their excessive wealth in the ways needed by the challenges we face so the system will need to change to help them.