The Objective Standard has published my latest article, “The Justice of Income Inequality Under Capitalism.” I begin by asking, “Why do many [Wall Street] Occupiers oppose some forced wealth transfers and advocate others?” The typical “Occupier” advocates forced wealth transfers from “the rich” to the less rich — but that “occupation” position is wrong on moral (and economic) grounds.
I point out, “[T]he income inequality under tyranny is fundamentally different from that under capitalism. One arises from looting and forcing; the other from producing and thinking.” (I distinguish capitalists from those “who wield political power to seize subsidies and hamstring their competitors.”)