The Haves and Have Nots

February 17, 2009

In second grade I heard that if you were to spread all money equally, in a short time the previously rich people would be rich again and the previously poor would be poor again.

This was taught to me to demonstrate the caste system of the haves and have nots.  A better explanation is that in a system of exchange with voluntary, value-based trades the rich people do a better job of creating value for others.

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