Continuing with parsing through the politics of income inequality, we shift from the myths and articles to get down to some simple questions.
We consider these few basic thoughts:
- College shows why incomes differ. Different majors offer different skills that have different levels of supply and demand. People intend to go to college for a return on investment.
- Jobs are different and command different incomes. Should a low-skilled factory worker make similar income as a brain surgeon?
- Because people are different, an economy rebooted with income inequality would never naturally stay that way. People save differently, spend differently, invest differently, and seek different vocations. Any snapshot of an economy with income inequality imposed would quickly revert to inequality without persistent draconian regulation. Our differences are why we trade, interact, and benefit each other.
- Different types of employment structures account for income inequality. Full time, part time, contract, and freelancing are different and have their strengths and weaknesses. They are all needed for a natural, healthy economy. When bureaucrats want to make all jobs full time, 40-hour hires with employer-sponsored health insurance and benefits, the economy suffers and people lose their freedom and flexibility.
- Monetary income is not the only factor in measuring equality. Different skills, difficulties, demands, perks, hours, and flexibility can all factor into income. There is an unseen measure of value in flexibility and lower stress. Some people prefer an easier life and can adapt to lower income. Higher income can also mean higher stress. Introverts and extroverts can have different needs that can factor into income and expenses.
- God made us all different for a reason. The Holy Spirit gives different spiritual gifts to members of the Body of Christ. These gifts might differ in visible impact, but they are all important. Christians should consider this as they view the economy.
1 Corinthians 12:15-18
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