I argue that the system of meritocratic inheritance of technology coupled with economies of scale is a possible reason for income inequality, and I provide a philosophical justification for a universal basic income in the current system. Introduction The political discourse about income inequality and universal basic income (UBI) has revolved around the idea of
This is a response to Swaminomic’s post, where he talks about economic inequality in Indian states (link). I will briefly present his views first and then present some flaws in his argument by providing some facts. He suggests that India should not be worrying about economic inequality as much as worrying about the overall growth because
I came across a blog post (link, and also a column: link) that talks about the effects of futures market on the oil and onion market. Many think that futures market is responsible for the oil price fluctuation (link). The author notes that despite the absence of futures market in the onion markets (due to
Some claim that the expiration of Bush Tax Cuts, only for the rich, is class warfare, and that it punishes the rich for working hard. The argument implicitly assumes that regardless of who you are, being smart and working hard helps you grow richer. I decided to put that claim to test because we have