Is Income Inequality a Problem?

The word inequality is seen everywhere today especially in the context of income inequality. You probably encounter it discussed on the news, adults talking about it, and notice how it seems to be a very popular subject today. Which most likely means you’ve heard people say statements such as these: “ income inequality must be abolished!” Or, “the reason why the world is so unfair is because of inequality!” But is income inequality an actual issue or not? 

Something that I must note is that abolishing inequality is practically impossible, and the only way to achieve doing away with inequality is with a communist or socialistic economy, which happens to cause a more problematic issues worse than inequality. Because this idea of “getting rid of ” income inequality is impossible, then why do so many people think it is such an issue? Poverty is a terrible thing, and it is tragic to see people who live in these poor conditions, but is the actual inequality the issue?

The truth of the matter is that income inequality is not the problem. Though there are differences in the income rates for different jobs or careers, would it make sense for everyone to make an equal amount of money? Should a top doctor make the same amount of money as someone who works in a fast food restaurant? Absolutely not, we can all agree that would not be right or fair. Which is one of the reasons why income inequality exists, because different jobs make different amounts of income. 

In short, income inequality is not an actual problem, even though many think it is today, regardless of the truth that it is nearly impossible to abolish inequality. If it was achieved it would not be necessarily right, since it implies that people who have higher level jobs should make the same amount of money as someone who works a lower level job. 

3 Comments

  1. SonofYHWH says:

    “…which happens to cause a more problematic issues worse than inequality.”
    Just wanted to point out that typo. : )

    Like

  2. SonofYHWH says:

    Good essay!
    I’ve heard professor Jordon Peterson give an address on this that I found quite interesting and intellectually stimulating.
    He proposed that not all surgeons – for example – are equal. He suggested that – if the case were to arise that your father should need to have a brain tumor removed – you would want the best surgeon, not a plumber (I’m paraphrasing, but you get the idea).
    We then like to reward these surgeons for their fine work, and give them more than necessary to encourage them to maintain their skill as a surgeon and encourage them to stay in their practice and also become even better at what they do.
    And there is the crux of the cause of inequality: Positive sanctions.
    Funny how it’s treated as a negative thing…

    Liked by 1 person

    1. Thank you! Those are some intellectually stimulating points! It is unusual that so many think that inequality is only a negative thing.

      Liked by 1 person

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