After making the arguments above, Pagels slips and reveals the real source of his primary concern: “Most income inequality reports focus only on the most negative interpretation of the data, creating a narrative that the world’s economic situation is spiraling toward a dystopian hell. People then use that misperception to justify wide-reaching government redistribution policies.”
To reassure Mr. Pagels, I believe we have soaring inequality and concentration of wealth precisely BECAUSE of “wide-reaching government redistribution policies.” The government redistributes trillions of dollars upward every year by enforcing the artificial scarcities and artificial property rights through which big business and the super rich extract monopoly rents from the rest of us. And far from wanting more government intervention, my response to the all too accurate perception of rising inequality is to remove the existing government interventions that enable the plutocracy to tax us right now in the form of inflated land rent, usury and monopoly profits.
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