Don Boudreaux ponders the wealth of the richest American, and what would happen if we took it all and gave it to other people.
And this fact does mean, therefore, that taking money from Gates and giving it to other Americans will – if these Americans spend all or most of this transfer on consumption goods – reduce the productivity of the economy. It will diminish the economy’s capacity to produce material goods and services over time. Over time, it will make all of us less able to consume.
Read all of it. And if you have time, read more posts at Cafe Hayek.
Windy Recycling Day 