Why do we tolerate inequality? The answer, according to a new study by economist Eugenio Proto, is for the slight chance to prosper:
“It seems that even if people believe they have just the tiniest of chances to become the next Bill Gates, it’s enough to keep them tolerant of obvious inequality,” says Proto. [...]
“When you look at it rationally, it makes no sense that people are placing such a disproportionate value on that first one percent increase in opportunity,” says Proto.
“But that slight increase in fairness seems to have some kind of symbolic meaning. It appears people are happy to accept extreme inequality when they have this tiny carrot dangled in front of them.
How, exactly, has Socialism has been proven ineffective? Are you perhaps ignoring the fact that the most prosperous (per capita), most well-educated, and healthiest countries on earth (moreso than the US in all respects) sway heavily towards socialist policies?
And, please, your examples are terrible. Not every company will invent a product that completely changes the way the world operates. In fact, the overwhelming majority won't. Also, apple didn't create a demand for music delivery devices; the demand was already there. Nor did they create the first mp3 player. All they did was grab a majority of a pre-existing demand.
There are plenty of miserable people under the current scheme of things.
Yes, but they aren't equally miserable.