19/01/2011

In Defense/Praise of Income Inequality

I [...] worry that eliminating status competition on the income margin pushes it to less productive margins. If we’re hard wired to be status seeking, isn’t it generally a good thing that that’s channeled towards producing economic value for others rather than towards military exploits, feats of warmaking valor, potlach, or other more destructive forms?

Eric Crampton (quoted here)

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