Benki β†’ Bookmarks

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I am generally skeptical when it comes to how much good something can do when it seems to cost nothing. At least with direct redistribution via taxes the costs are transparent. Minimum wages only have hidden costs. Could homelessness be one of them?

On the other hand, correlation does not imply causation.

Whether income inequality is the result of a fair process is not the main question that needs answering. Is it fair that I was born with a usefully high IQ into a stable society that craves knowledge workers? No, it is a privilege and has nothing to do with fairness. Yet it helps no one to take that particular privilege away.

Instead, we should accept that some will be privileged and some will be disadvantaged, strive to improve living standards for everyone, and lift up the less lucky by way of redistribution and public services.

Whether inflation goes to profits or elsewhere isn’t really the question. That’s analyzing the outcome, not the cause.

After all, the higher revenues resulting from a price increase due to an increase in demand or reduction in supply have to go somewhere. If they all went to labor, would that make it β€œgreedflation” too, just with a different greedy actor?

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