A recent report from Oxfam has sparked concerns over wealth inequality in Canada. Unfortunately, discussions about wealth inequality too often overlook a critical point—how wealth is accumulated. This matters for any assessment about the state of wealth inequality.We should all decry wealth gained through cronyism (as Oxfam does), where people become wealthy due to political favours, receiving handouts or special privileges from governments at the expense of everyone else. Examples of this are when governments provide subsidies to their favoured companies, grant monopolies to the politically connected, or protect certain industries from competition. And of course, there’s no justification for …read more
Source: Fraser Institute
