In his recent Forbes article, Uber, The Amazing Car Service, Lays Waste to Worry About Income Inequality, John Tamny contrasts the term “income inequality” with his thoughts about “lifestyle equality.” Key points,
- Income inequality is the quickest path to equality of lifestyle.
- Commercial success almost invariably trickles downward.
- Regarding Jeff Bezos as an early investor in Uber, Tamny remarks, “The shortsighted will lament the ‘rich getting richer’, …but the rational will realize that when we tax the rich we reduce the amount of capital available for new businesses, and with it, reduce the quality and pay of jobs.”
- Uber’s rise as a business reminds us that the achievers of great wealth almost invariably grow rich for improving the lives of others, including their employees.
I endorse Tamny’s economic arguments, and on a personal level, also endorse Uber as a customer.