I've said that in a free market there is no exceptional wealth since on the basis of a free market, that is natural law, you only own what you actually work in land, tools, savings, etc.
In natural law we have inalienable rights, that is to say we cannot give them up, nor can they be taken away. For example, not only it is wrong for someone to enslave another, it is wrong to offer to be enslaved, even for a good reason, like to avoid apparent starvation.
Exceptional wealth is formed as one aggregates control over things through others. As people agree to work for someone else, at once the employee agrees to take less for (false) security direct more to the employer. The more the employer can convince others to direct their creativity to the employer's benefit, the more the employer grows in wealth.
Now that wealth the employer gains is not all that great, it just seems so relatively speaking. the great loss to society is the opportunity cost, that is to say what is lost, when that employee fails to contribute to us what they would have contributed in a free market.
Another aspect is as this employer becomes more wealthy, he is able to persuade political masters to tax others to protect his wealth. For example, taxes are paid to protect the intellectual property rights of individuals. Massive infrastructure is maintained at taxpayers expense to protect the savings and investments of the exceptionally wealthy. In a free market, should someone gain a billion or two, the task of defending it would overwhelm the billionaire and it would dwindle in marginal investments or other natural dispersions.
Since the super-wealthy control so much, they can hop on a private jet and fly to an exotic location to have some medical condition addressed. We are impressed and envious. But many diseases go unaddressed.
In a free market, there are so many more cures for diseases, and they are cheap and plentiful, but they are not under anyone's control. Transportation is cheap and plentiful, so getting to some exotic location to take a cure is no big deal. Knowledge of where the cure is and its efficacy is alos cheap and plentiful. This of course would not only pertain to medicine, but every field of art and science.
IN a free market, the wealth is not concentrated in the hands of a few, as it is in capitalism and communism. In a free market there are for more and better goods and services, dispersed far wider and more easily available, at lower costs.
In a free market wealth is far more than in capitalism and ever expanding, and it is not in anyone's control, but it is available to all.
Wednesday, May 27, 2009
Control Vs. Available
Posted in charity, Exceptional Wealth, free market by John Wiley Spiers
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