Wednesday, November 26, 2008

Factoring in Luck in a National Mission Statement for the Ideal US Economy

The purpose of a democratic national economy should be (1) to maximize the collective national wealth of its members and (2) have that wealth be subsequently apportioned to its individual members according the individual effort....minus luck: that is, the highest salaries and profits should go to those who work hard and smart; with the warning on the label: if a portion of high benefits derive from luck (advantages of birth, such as high IQ, inheritance, freedom from other responsibilities, such as taking care of aged parents, etc), those luck-achieved salaries/bonuses/ them birthright benefits...will have a confiscatory tax levied on them. The revenues thus derived will be placed in a common pool; the tax revenues to be distributed to the economically unlucky who work just as hard and and just as smart, but were/are hampered by an non-level playing field (caused by the disadvantages of birth, such as low IQ, non-inheritance, special responsibilities such as taking care of aged parents or mentally ill offspring, etc.)

A truly just, efficient, fully-incentivized democratic meritocracy demands no less.


Post a Comment

<< Home