Some people feel inequality is justified if the people with unequal outcomes accepted risks voluntarily; it was
Question:
Some people feel inequality is justified if the people with unequal outcomes accepted risks voluntarily; it was simply the case that some won and some lost. Imagine two people, each spending $10,000 on lottery tickets, but only one of them wins. We end up with one poor person and one multimillionaire. Is this inequality better or worse than if one person is born into a rich family and the other is born into a poor family? What exactly is the difference and why?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Modern Principles Of Microeconomics
ISBN: 9781429278416
3rd Edition
Authors: Tyler Cowen, , Alex Tabarrok
Question Posted: