Why Income Inequality Is A Good Thing
Capitalism.com with Ryan Daniel Moran
Capitalism.com
4.8 • 802 Ratings
🗓️ 4 March 2020
⏱️ 18 minutes
🧾️ Download transcript
Summary
If you listen to some politicians you might think that income inequality is the most serious problem in the world.
But in free society we will always have some level of inequality and I believe this is actually a good thing that lifts ALL people out of poverty and fuels innovation.
Let's take an honest look at what cures income inequality and what the effects are...
Transcript
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| 0:00.0 | If you were to believe the news headlines or a crazy politician, you might be tempted to believe that income inequality is one of the greatest challenges facing Americans today. |
| 0:10.1 | Well, this is capitalism.com and I'm Ryan Daniel Moran and we're going to talk about why not only is it not a problem, but it might actually be a good thing. |
| 0:20.3 | Strap in, prepare to be triggered. |
| 0:22.3 | Let's have some fun. |
| 0:23.6 | It takes one free person to create change. |
| 0:27.3 | This is the show for them. |
| 0:29.6 | We are the creators of the free world. |
| 0:32.7 | This is capitalism.com, and we are the 1%. |
| 0:38.3 | Whether it's an argument for minimum wage increases, capitalism.com and we are the 1%. |
| 0:41.9 | Whether it's an argument for minimum wage increases or it's an analysis of where we are in the economic cycle, |
| 0:46.1 | income inequality comes up whenever we're talking |
| 0:48.7 | about pretty much any public issue. |
| 0:51.2 | Well, spoiler alert, it's always come up. |
| 0:54.1 | It's always been a thing. It has always been |
| 0:57.7 | the case that about 10% of the population controls more wealth than about the other 90% or so. |
| 1:04.2 | If you're a capitalist, then you might have read Rich Dad Poor Dad back in the 1990s when he created a graph that showed |
| 1:12.9 | how 10% of people control 90% of the wealth or something like that. |
| 1:17.8 | And if you're a capitalist, then you read that and said, hmm, then I want to join that |
| 1:23.3 | group of people. |
| 1:25.0 | But if you're not a capitalist, then you hear a whole lot about how it's unfair |
| 1:29.7 | that some people earn more than other people or that income inequality is higher than it's ever |
| 1:36.0 | been. Now, that's true. Income inequality is higher than it has ever been. And guess what? |
... |
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