Inequality

I take your point, Rick, about the process by which wealth is produced and how those gains are distributed, although I'm not sure I agree that there is no moment at which gains (or, perhaps, expected gains) in wealth from entrepreneurship are allocated as between owners of capital and their employees and at which that allocation can be assessed from the point of view of its impact on inequality.  But I'm no economist.  Even if there were not such a moment, however, I don't think that the principle I'm endorsing is meaningless.  Another way to think about it might be to ask about the consequences of reducing inequality.  We might say that inequality should be reduced until the reductions begin to have a significant impact on the well being of those at the bottom (which should itself be viewed as based on a mixture of absolute and relative factors).