Capitalism and Equality
By Duncan Whitmore
In several recent posts and a podcast on this blog1, Rev. Rory McClure has provided some robust and insightful assaults on the leftist quest for equality. For too long it has been widely believed in mainstream circles that equality between human beings, in one form or another, is some kind of virtue to which society ought to aspire and that rank inequality is a measure of severe injustice that needs to be corrected by state action. Even though the worst excesses of inequality – such as the rising value of assets owned by the rich as a result of worldwide money printing – are, in fact, products of a state corporatist system, the perception that some people will be wealthier than others in a free market continues to provide an almost instinctive impetus towards some kind of socialism and re-distributionism. Rev. McClure has performed an important service by not only demolishing the view that inequality is a handicap for lovers of liberty but, above and beyond that, by demonstrating how inequality is, in fact, something to be embraced and cherished.
To add to Rev. McClure’s important arguments this essay will first subject the aspiration towards some kind of perfect or immediate equality – i.e. the forced attempt to render all people absolutely equal now with today’s stock of wealth and resources – to a specifically praxeological critique. However, we will also demonstrate that even if someone desires a more approximate or gradual achievement of equality – such as the so-called “equality of opportunity” – it is, in fact, statism, socialism and any kind of redistributionism that should be abandoned while, instead, those who seek to create such equality should embrace a social order that maximises the production of wealth. That social order is, of course, free market capitalism. Thus it will be shown that, even on their own terms, advocates for greater equality should be free marketers. Continue reading