Support
Generally, supporters defending wealth concentration also support capitalism. They argue that, the principal assumption that wealth is neither created nor destroyed but rather shifted, is wrong. Wealth is not a zero sum game and thus wealth collected by the wealthy might not be distributable to the poor anyhow. They argue that over the course of human history, total global wealth has grown over the last several centuries, and therefore, investors may reap large economic benefits, and the side effect of investment is the creation of new jobs and industries that increase the overall standard of living for anyone participating in the market. Opponents argue that an increase in economic and social inequality, results in a reduction in the standard of living. In response, neoclassical economics dictates that if a business decreases the standard of living for people participating in the market, participants will exit the market until the business cannot function (that is, bad businesses go bankrupt). Even though there is a priority of who's standard of living is most worth increasing, they will all be increased overall, since none are actually "decreased." For defenses of economic inequality, see the article for Equality of outcome.
Read more about this topic: Wealth Concentration
Famous quotes containing the word support:
“Can you support the expense of a husband, hussy, in gaming, drinking and whoring? Have you money enough to carry on the daily quarrels of man and wife about who shall squander most?”
—John Gay (1685–1732)
“Criticism is a study by which men grow important and formidable at very small expense. The power of invention has been conferred by nature upon few, and the labour of learning those sciences which may, by mere labour, be obtained, is too great to be willingly endured; but every man can exert some judgment as he has upon the works of others; and he whom nature has made weak, and idleness keeps ignorant, may yet support his vanity by the name of critic.”
—Samuel Johnson (1709–1784)
“I make this direct statement to the American people that there is far less chance of the United States getting into war, if we do all we can now to support the nations defending themselves against attack by the Axis than if we acquiesce in their defeat, submit tamely to an Axis victory, and wait our turn to be the object of attack in another war later on.”
—Franklin D. Roosevelt (1882–1945)