> Everything else the same, would you rather live in a world where the average person makes $100k/year and the richest person is worth $1T, or a world where you make $1k/year and the richest person $1M? Because if you're focusing on minimizing "wealth inequality", I guess you'd choose the latter, which is clearly the wrong choice.
It depends on the wealth curve, obviously, and how the rest of the market is structured. But in neither scenario are you going to see the problems of wealth inequality relaxed. Wealth inequality doesn't seem to offer society any benefit and creates the problem of poverty.
Wealth inequality, by definition, does not create poverty, unless your definition of poverty is "having less money than other people", which would be an absurd definition.
It depends on the wealth curve, obviously, and how the rest of the market is structured. But in neither scenario are you going to see the problems of wealth inequality relaxed. Wealth inequality doesn't seem to offer society any benefit and creates the problem of poverty.