Myth of economic equality from "summary" of Economic Facts and Fallacies by Thomas Sowell
The idea that economic equality can – and should – be achieved is a seductive notion that has captured the imagination of many people. However, this belief is based on a misunderstanding of the nature of economic reality. In reality, there are many factors that contribute to differences in economic outcomes, and attempting to eliminate these differences through government intervention is not only unrealistic, but can also have negative consequences. One of the key factors that contribute to economic inequality is differences in individual abilities and preferences. People are not all the same – they have different skills, talents, and interests that lead them to pursue different careers and achieve different levels of success. Trying to force everyone to be economically equal would require ignoring these fundamental differences, which is bo...
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