Tuesday, October 9, 2012

Class warfare

I saw this on a bumper sticker the other day:

REDISTRIBUTE WEALTH OVER $5 MILLION
MAKE CAPITALISM WORK FOR EVERYONE


This raises an interesting question, which in my experience is seldom discussed. Suppose economists are right that property rights are essential to prosperity. We might still ask, are unlimited property rights essential to prosperity? Most good things are not good in excess. Could property rights be one of those things?

The specter of communism, which our rulers use to frighten us into submission, is a red herring. Confiscate the obscene wealth of plutocrats. Redistribute it. Then let capitalism loose again so it can work for everyone. Our rulers would prefer we don't talk about options like this. The debate is framed as a choice between an unjust system and an impractical one. And we drop to our knees and thank our leaders for leading us on the practical path.

Throughout history, rulers have claimed they rule us for our own good. Even when they imprison us, they claim this is for our own good. The inquisitors in the Middle Ages claimed they tortured heretics for their own good. When our rulers tell us the rules are for our own good, we should be demanding evidence for this claim, not accepting it on authority.

For the more than two thirds of Americans born with no property, how is the ruthless enforcement of unlimited property rights good?

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