No. of Recommendations: 2
"Income Inequality" isn't a problem, it's a necessity.
You need to stop looking at things like money as simply a possession.
In a complex economy, variables such as "income" have valuable information content.
The information content is necessary to tell people if their expenditure of their personal resources--time, energy, their own other assets--is efficient. The more efficient we use our personal resources, including non-monetary, the more utility we receive back.
If you flatten out income received by people and make everything equal, you remove the valuable information content that differential incomes provide.
If you are receiving higher income for how you spend your time than someone else is, that is the economy's way of telling you that whatever you are doing or producing has more economic utility than what that other person is doing. That other person also gets that information, and can use that information to determine whether he/she is optimally using their time and other resources to produce utility for themselves.
