09/28/19 People's ignorance of the process of wealth generation not only limits their well being but leads to disastrous attempts to correct wealth disparity using means that are counter-productive and destructive of our liberties and way of life. [R/E/educ] Some people figure that wealth disparity must be the result of a conspiracy but it is actually a simple matter of ignorance which can be corrected with a little thought and learning. [R/E/think] Many simple, ordinary people with ordinary incomes have figured it out, save and invest, and put themselves in a solid position by making conscious choices about the utilization of what wealth and income they have. A good read on this is “The Millionaire Next Door: The Surprising Secrets of America's Wealthy” by Thomas J. Stanley. [L/FP/coercion] The socialist approach to correcting wealth disparity is to use government coercion to confiscate wealth from those own it and give it to whomever they wish. But this reduces capitalization so is counter-productive and doesn't solve the problem. To reference the old saying, it gives men fish rather than teaching them to fish.
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