Income Inequality Notes.docx - Dr Brooks Is inequality fair Income Inequality is the gap between how much people earn What is fair Is it deserved or not

Income Inequality Notes.docx - Dr Brooks Is inequality fair...

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Dr. Brooks Is inequality fair? Income Inequality is the gap between how much people earn. What is fair? Is it deserved or not? Do these people deserve to make this amount of money? How to determine what is deserve. You deserve your income based on the value you create in a marketplace. The 1% they create massive amount of value so they get to keep that value. People who work at McDonalds don’t create an enormous amount of value. To become a billionaire in a free market is to create something people are willing to pay more than what it’s worth to make. They think there life will be better off by purchasing this product. Improve billions of lives. Some people say that they get poorer by buying these things while those who create it get richer. People get mad about this. Example: Harry Potter – he became richer intellectually and spiritually because of Harry Potter. Purchased something of value to him so it made him richer in a different sense other than money. His richness just can’t be measured. Good for the author for making lives better.
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