Re: Leaving aside the question of equivalence...

[identity profile] 0olong.livejournal.com 2011-06-09 09:12 am (UTC)(link)
Is it, though? I don't think it's that simple. For one thing, that's always money that could be used for something else (but yes, it is money that we've given up into the control of someone else by paying for something, so perhaps we lose all say when we do that?). For another, having some people earning 100x as much as others does weird things to the markets in general. And is it irrational to suspect that something's a bit off with the market if the income discrepancies in one country are several times as large as those in another country of comparable wealth?

Also, while writing this effect off as 'just jealousy' may be in some sense accurate, what do you make of the evidence that people in general tend to be much less happy if they know that other people are vastly better off than them? See e.g. 'Relative income, happiness, and utility:
An explanation for the Easterlin paradox and other puzzles
'. Even if it is all down to such a base motivation, does that necessarily mean that ignoring such large-scale effects is the right thing to do?

Re: Leaving aside the question of equivalence...

[identity profile] eatsoylentgreen.livejournal.com 2011-06-09 12:39 pm (UTC)(link)
It's good to be not jealous.

But my boss controls how much I am paid.

Re: Leaving aside the question of equivalence...

[identity profile] 0olong.livejournal.com 2011-08-06 09:47 am (UTC)(link)
Here's another link relevant to the question of whether we should care how rich other people are... http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105