Just Because You’re Rich, It Doesn’t Mean You Deserve to Be … Rich!

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By Uneasy Money – a repost

Recently Brad DeLong expounded on the extent to which the earnings that accrue to individuals do not correspond to the contributions total output that can be ascribed to the personal efforts of tho…

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Money

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 Wherein Hayek Agrees with DeLong that Just Because You’re Rich, It Doesn’t Mean You Deserve to Be

Conclusion

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One Response

  1. What is Rich?

    A recent survey found that to be viewed as wealthy, you need to have a net worth of at least $2.4 million.

    In the US, fewer than 1% of the population — 1.84 million people according to the most recent IRS data — have a net worth that exceeds $2 million.

    But chances are you’ve seen far more than 1% of your social circle spend far more on expensive things. I know I have.

    Ngyuen

    Like

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