 THE BEST USE OF TAX PAYERS’ MONEY AND THE BEST WAY TO HELP THE POORChapter 6 in Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed, 2019, pp 28-31 from World Scientific Publishing Co. Pte. Ltd. Abstract: Inequality of opportunity perpetuates income inequality and passes income inequality from one generation to the next. The children of the rich become rich and the children of the poor become poor. But inequality of opportunity affects much more than just income gaps between the rich and the poor. Indeed, it weakens the very foundation of capitalism, as well as the intellectual, moral, and common-sense case for capitalism. That case is that capitalism is a fundamentally fair system. Inequality is a permanent fact of life, which means that the playing field can never be completely level. Nevertheless, some government intervention can help make the field more level, and improve the odds of a poor, single-parent black kid from inner-city Detroit becoming another Dr. Ben Carson. Such government action not only reduces inequality, it helps to promote healthy and vigorous competition, and thus strengthens the very foundation of capitalism… Keywords: Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789813274242_0006 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd. |
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