Embrace the role of wealth

The term “economic inequality” is bandied about by politicians. Some individuals have more money than others. What a revelation. Class envy is the tool to demonize the successful. The fact wealth fuels jobs, and bolsters charity and other efforts, should be embraced and admired.Some political leaders think minimum-wage increases for low-skilled fast-food workers will help close the economic divide.The fast-food industry already has automated equipment that can cook a burger, put condiments on it and wrap it. Minimum-wage mandates could drive up costs and displace some of the workers these politicians endeavor to help.Wages are better determined by the supply and demand for labor, and the skills required. Artificial intelligence portends a bigger effect on our lives in the next 20 to 30 years than anything we have seen.The consequences…

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