With all the talk about “disparities” in innumerable contexts, there is one very important disparity that gets remarkably little attention — the disparity in the ability to create wealth. People who are preoccupied, or even obsessed, with disparities in income are seldom interested much, or at all, in disparities in the ability to create wealth, which are often the reasons for disparities in income.
In a market economy, people pay us for benefiting them in some way — whether we are sweeping their floors, selling them diamonds, or anything in between. Disparities in our ability to create benefits for which others will pay us are huge, and the skills required can develop early — or sometimes not at all.
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