I'm Still a Capitalist

There is a new book out this week. Well researched, thought out, and presumably well written. I saw an article about The Spirit Level: Why Greater Equality Makes Societies Stronger in Time. I also went to their researchers website and reviewed their power point presentation of their data.

I'm Still a Capitalist.

Their presentation would lead us to believe income equality provides better social outcomes. Country wise they offer up Sweden as a model of equality and the authors suggest in the Time piece that heavy taxation and redistribution of wealth would lead to better societies.

Last I checked if you map socialism against failed economies the correlation is outstanding. China is an exception but they have really opened up their markets in the last two decades.

Isn't the elimination of economic inequality another route to socialism?

In reviewing their presentation between countries and states I noticed another potential correlation between positive social outcomes in lieu of income inequality. A complete lack of racial diversity. Oops. Hitler already tried genocide and I'm pretty sure that didn't work to well either.

Here's a radical thought. The USA may not rank number 1 in each of the positive social measurements provided but we rank near the top. We are also one of the most racially and ethnically diverse countries on the planet. We also have a history of one of the most open and free (still room for improvement in my opinion) markets over the last 100 years. Perhaps Capitalism works.

However, I might be willing to lend more credence to Mr. Wilkinson's and Ms. Pickett's arguments should they be willing to put their money where their mouths are and redistribute the wealth generated by their free enterprise activity of publishing a book. Let's say give away 90% of your income for 10 years to UNICEF and I will consider doing the same.

In the mean time I think I'll continue saving for retirement.