Read the article by Teles. Teles advances the thesis that the stark degree of income and wealth inequality in America is not a product strictly of the capitalist economy, but rather the political structures and regulations that redistribute wealth upward. He calls this upwardly redistributed money, added monetary benefit to the rich, rents. Discussing licensed professionals such as doctors, dentists and lawyers, the author argues that these professions are not so well-paid due to natural competition and specialization in the economy, but rather due to regulations that protect them. What is your take on the elevated incomes of professionals such as these in American society? How is a salary worth multiple times the national average, such as those earned in such professions, ethically justifiable (or not)?

https://www.nationalaffairs.com/publications/detail/the-scourge-of-upward-redistribution

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A distinct viewpoint on income disparity is provided by Teles thesis which contends that laws and policies can be changed to raise rents for the wealt... View the full answer