The reason I hate teaching this section is because a natural outcome of a market economy must be inequality of incomes.
Inequality of incomes are not a failure of markets.
They are a necessary and desirable outcome.
I always say to my students if I was to guarantee you all get the same final result how would that affect your effort in this course?
...
The better-off usually ensure their offspring have better access to education and other opportunities to succeed.
Inheritances also help.
This is not a morality tale about the evil rich.
This is how societies have worked since the dawn of civilisation.
http://www.nzherald.co.nz/business/n...ectid=11388751
Inequality of incomes are not a failure of markets.
They are a necessary and desirable outcome.
I always say to my students if I was to guarantee you all get the same final result how would that affect your effort in this course?
...
The better-off usually ensure their offspring have better access to education and other opportunities to succeed.
Inheritances also help.
This is not a morality tale about the evil rich.
This is how societies have worked since the dawn of civilisation.
http://www.nzherald.co.nz/business/n...ectid=11388751
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