I find it fascinating that most of those who think inequality is a problem, also believe the world is “too focused on the material.” Well, if the world is “too focused on the material,” why the hell all the focus on the inequality in material goods?

Inequality doesn’t mean starvation. It means nothing more than a difference in wealth and income. Lebron James is far from a poor person, he has earned over $60 million to-date, according to Forbes, but his wealth doesn’t come close to that of Warren Buffett. Buffett’s net worth is near $60 billion. That’s great inequality, but Lebron is not starving.

In the United States, most people have access to a cell phone, a television and, almost all, to air conditioning. In the United States, inequality doesn’t mean people are without basics, it just means that there are differences in the extras. Those extras can be fun, but you can live a pretty good life without them.

As Robert Ringer puts it:

 Abundance is not so much a matter of how much wealth you possess, but how you feel about what you have.

I like nice things, but give me a Ludwig von Mises or Murray Rothbard book and I am a pretty happy camper.

Reprinted with permission from Economic Policy Journal.

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The Best of Robert Wenzel

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$bio: Robert Wenzel is Editor & Publisher of EconomicPolicyJournal.com and author of The Fed Flunks: My Speech at the New York Federal Reserve Bank.

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