This Way Toward Equality - F.A. Harper - Mises Institute

This Way Toward Equality - F.A. Harper - Mises Institute: "we must consider why incomes differ.

Incomes differ because people differ in their economic drive, in the extent to which they want to apply themselves to work vs. use their time in recreation and leisure. It is their privilege to so choose, but if they choose a higher proportion of leisure, the economic penalty attached should not be shifted to others.

Incomes differ because people differ in their economic ability. Men are not created equal in economic capacity, and these differences cannot be corrected by law or by governments. The things that law and governments can do are to give everyone more nearly equal economic opportunities.

Incomes differ because of all sorts of limitations on free and fair competition — monopolies, etc., etc. Many of these are the result of measures enacted with avowed objectives such as 'security' and 'fair trade.' It is this type of thing which Hayek and all 'true' liberals would not tolerate. As they see it, a clear function of law and of government is to insure freedom of opportunity by protecting against these abuses."

"Equalization of incomes is likely to poison initiative and retard progress to the extent that the real incomes of everyone are lowered from what they otherwise would be. The fact that large incomes suffer more than small ones should not be comforting to those whose smaller incomes are further reduced as the result of a program supposed to benefit them."