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Wealth Disparity

I often hear it said that the disparity between the wealthiest and the poor is not a good thing.  Somehow this disparity is considered by some to be bad in itself,  however we have seen the disparity trimmed significantly over the past month as the assets of the wealthiest invested in stocks and (some) bonds have declined precipitously.  Has that benefited the poor who now are experiencing much less disparity in comparison with the wealthy?  I would answer emphatically no.  On the contrary, when the disparity shrinks it is more likely that all will be  worse off as the economy slows and the production of goods declines.  The poor thus gain no advantage from the decline in the disparity.  The ultimate result of shrinking the disparity would lead to a sort of lowest common denominator for participants in the economy.  We have seen result when this happens in the sick economies of communist states like Cuba and North Korea.  Free enterprise and growth in wealth is good as it brings with it opportunities for all, if only they step forward to take advantage of them.

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