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In free market capitalism, the marginal revenue product of a resource greatly impacts the distribution of income. Pop stars such as Beyonc and highly successful
In free market capitalism, the marginal revenue product of a resource greatly impacts the distribution of income. Pop stars such as Beyonc and highly successful athletes such as Steph Curry earn exorbitant salaries. Millions of people aspire to replicate their success. Very few ever earn enough singing or playing sports to make a living. CEOs earn millions of dollars in salary operating Fortune 500 companies at the same time millions of Americans barely earn enough to maintain a respectable standard of living. A union worker receives a large salary, generous benefits package and lifetime pension. Total employment compensation for a unionized worker is much greater than his or her non-union equivalent. Is the system fair? Should the government redistribute income in an attempt to address income inequality and economic injustice? Discuss in detail
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