Should We Make the Rich Poorer?

Libertarian law professor Richard Epstein was interviewed recently on PBS in response to the news that income inequality has grown over the last few years. Epstein defends that inequality with arguments that are as cogent as they should be obvious.

Watch Does U.S. Economic Inequality Have a Good Side? on PBS.

The left seems indifferent to the power of Epstein's deposition. They often seem to care only that some people have more of the world's goods than do others, and, since they believe that to be an unjust state of affairs, they demand that the rich have their excess taken from them and given to people who have little. Lincoln's caution that Epstein quotes is apposite, however. We can't make the poor richer by making the rich poorer, even though that's precisely what the left thinks can be, and should be, done.

I confess to being personally disgusted at the huge bonuses given to Wall Street financiers by their shareholders, but though I think it contemptibly ostentatious and offensive it neither harms others nor is it economically unsound. To legislate against it, as the left wishes to do, puts them in the awkward position of advocating the imposition of their moral vision upon others, which is the very thing they've adamantly argued for fifty years has no place in a free, democratic society.

HT:Hot Air