When Marx wrote "Das Kapital" in 1848, the previous treatises on economics were centered on agricultural economies: wealth was farmland, income the crops. Both fixed! And what man of good will would not support the extermination of the parasitic landowner class who did nothing in society but confiscate a lion's share of the crops without lifting a finger! Would not "justice" be served turning the land over to those who actually worked it?
And was not every bushel of crop produced by the sweat of the tenant farmer's brow? Thus, is not the foundation of wealth labor itself? But this does NOT apply to a modern information age economy!
If a programmer writes an App and sells hundreds of thousands of instances, how does the labor value theory apply here? And network economics: the cost of adding a node to a network is zero, yet the network becomes more valuable as a whole. How does the labor value theory apply here? Sorry Comrade, it doesn't!
To follow the metaphor, it is as if farmland itself expands or contracts with incentives. Wealth is NOT FIXED! The more wealth in society, the better off everyone is. This brings us to the concept of "equality".
The President tells us that income inequality is a problem. Is "justice" really equal outcomes, that is everyone making the same? Even in Communist societies, the party elites took the big houses, had cars and drivers, cooks, etc. Their justification? "We have a bigger responsibility to the people and deserve more." Why then, is our society any different?
Does not Steve Jobs, who created vast amounts of wealth and changed society deserve more than a welfare freeloader who is content to sleep to noon after a night of drink acquired with food stamps?
The reality is: equal outcomes is unfair because we don't have equal contributions to society. And the only true set point for "equality" is everyone at the poverty subsistence level. (and this comes as a sobering shock to all the progressives who envision income being redistributed down to THEIR level and no lower, naturally!)
The country needs to see through the Marxist fraud of Obama's push for "income equality".
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