Saturday, September 5, 2009

Inequality vs Liberty

Say NO to inequality because the theory of inequality is flawed in many ways. It is the socialist propagators who keep telling us that the inequality matter in a big way in a society like India. What we need is a liberty for everybody which is an ingredient and necessary condition for individual freedom, equality of right to property all these are never a sufficient condition unless there is rule of law.

Professor Mises argued in the 50s that:

  • “Inequality of wealth and incomes is an essential feature of the market economy. It is the implement that makes the consumers supreme in giving them the power to force all those engaged in production to comply with their orders. It forces all those engaged in production to the utmost exertion in the service of the consumers. It makes competition work. He who best serves the consumers profits most and accumulates riches.

Further Mises said that the country like Unities States “… enjoys the highest standard of living ever known in history because for several generations no attempts were made toward “equalization” and “redistribution.” Inequality of wealth and incomes is the cause of the masses’ well-being, not the cause of anybody’s distress. Where there is a “lower degree of inequality,” there is necessarily a lower standard of living of the masses….In the opinion of the demagogues inequality in what they call the “distribution” of wealth and incomes is in itself the worst of all evils.

Now you can draw your own conclusion from the Professor Pranab Bardhan article “How unequal a country is India?” published in today’s BS.

This was same narrative was taught to me years ago when I was selected as a Young Scholar for a national workshop on “Social Sector in China” organized by CSDS.

Even it’s appropriate to remember what Patrick Henry said in 1775:

“Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!”

In another address he said:

“That country is become a great, mighty, and splendid nation; not because their government is strong and energetic, but, sir, because liberty is its direct end and foundation.”

PS: my posting and the argument in this blog is not to win others viewpoint but aims to mere point out that look there is also alternative view. The best alternative will be the ultimate alternative which is ideal.Secondly, learning gives me immense energy to be honest, recharged, loving life in a natural way. My next post will be on why we learn?

Before that remember the following “famous lines of the poet John Donne”:

No man is an island, Entire of itself. Each is a piece of the continent, A part of the main......Therefore, send not to know For whom the bell tolls, It tolls for thee.

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