TL;DR. The world is getting increasing unequal in wealth, income and consumption. That’s great. I prefer to live in an increasingly unequal world than in a world of equality because an unequal world is a better world than a world characterized by equality.
But let me stress that a world with more inequality is preferable to a world with less inequality is an empirical fact, not a necessary logical fact. Here’s why.
Our present world is unimaginably wealthier than the world was any time of the past, as I claimed in the first part of this essay. I believe the future will be even more unimaginably wealthier than the present. The causal factors that led to the present explosion of wealth will continue to not only operate in the future but will intensify. Continue reading “Wealth, Income, Consumption & Utility – Part 2”










