we should strive to get as many opportunities to grow to the majority of the population, however to try to strive into an equality of outcome regardless of the decisions that we take with our lives is a mistake, those that take better decisions need to be rewarded, and under a society with no restrictions the rewards come by themselves, because even if you are not Elon in terms of your potential taking the right decisions will bring you a happier, healthier and wealthier life than if you took the incorrect choices, but for some this is somehow something that needs to be corrected.
Enforced equality of outcome is certainly a terrible idea, as it disincentivises everything. But equality of
opportunity is an ideal that we should strive for, and one which unfettered capitalism actively works against. Many people have effectively zero chance of becoming wealthy or even owning their own home, due to the inequalities of opportunity within the system.
In the year 2022, it seems many believe a person who works very hard and makes good financial decisions. Should enjoy the same level of success as someone who doesn't work and makes poor financial decisions. This appears to be the definition of "equality" most believe in. They believe Elon Musk should enjoy the same degree of wealth and success as a homeless drug addict living on the streets. And that people should not be rewarded for working harder, making better decisions and taking bigger risks.
I've never met anyone who thinks this way. Does anyone at all
really believe that talented, driven, innovative entrepreneurs such as Musk should have the same outcome as someone who never even tries? I think you'd struggle to find a single person who believes that. But we also need to consider your homeless drug addict, why is he homeless? Is his situation entirely his fault? Is he more likely to have been born the son of a billionaire, or the son of someone struggling to survive at the lower end of society? Might this affect the opportunities he has in life?
Democratic capitalism is the best system we have, because it involves greater accountability for the people at the top. Unrestrained laissez-faire capitalism would lead to monopolies and cartels and unbridled exploitation of almost everyone, and be little better than the most autocratic communist regime. Democratic capitalism works better than anything else because the government acts to rein in the wildest excesses of corporations. The biggest issue is that governments nowadays have drifted too far to the right, and are becoming more like enablers of these excesses, and not working for the benefit of the people they represent. Equality of outcome is a bad idea, but also inequality of outcome is only fine up until the point that it impinges on people's equality of opportunity. Many of the ultra-rich realise this, and are
actively campaigning to pay more taxes.
The issue with people saying "the rich deserve to be rich", is that really big numbers just don't make sense to the human brain. I'd agree that it's fine for the rich to be rich, but not as rich as they are. For some more context, have a look at
this thread, but in particular the link below. It's a visualisation that I've shared many times over the last couple of years. I challenge anyone to scroll all the way through that visual, and then come back here and argue that Musk/Bezos etc really should be as rich as they are.
https://mkorostoff.github.io/1-pixel-wealth/