J. R. Lucas, "Against Equality," in Justice and Equality, ed. Hugo Bedau (Prentice-Hall, 1971), pp. 148-149:
Since men value power and prestige as much as the possession of wealth---indeed, these three `goods' cannot be completely separated---it is foolish to seek to establish an equality of wealth on egalitarian grounds. It is foolish first because it will not result in what egalitarians really want. It is foolish also because if we do not let men compete for money, they will compete all the more for power; and whereas the possession of wealth by another man does not hurt me, unless I am made vulnerable by envy, the possession of power by another is inherently dangerous; and furthermore if we are to maintain a strict equality of wealth we need a much greater apparatus of state to secure it and therefore a much greater inequality of power. Better have bloated plutocrats than omnipotent bureaucrats.
This is a penetrating passage from a penetrating essay. Lucas is in effect pointing out a paradox at the heart of the egalitarian position. If the egalitarian wants to equalize wealth, perhaps via a scheme of income redistribution, then he will need to make use of state power to do it: the wealthy will not voluntarily disembarrass themselves of their wealth. But state power is of necessity concentrated in the hands of a few, those who run the government, whose power is vastly greater than, and hence unequal to, the power of the governed.
The paradox, then, is that the enforcing of equality of wealth requires inequality of power. But, as Lucas points out, the powerful are much more dangerous to us than the wealthy. Your being wealthy takes away nothing from me, and indeed stimulates the economy from which I profit, whereas your being powerful poses a threat to my liberty.
But I hear an objection coming: "Wealth is convertible into power since the wealthy can buy their way to political influence, whether legally or illegally." True, but the seriousness of this problem is a function of how intrusive and overreaching the government is. A government stripped down to essential functions offers fewer opportunities for the power-hungry. Note also that the wealthy may feel it necessary to buy influence just to protect themselves from regulatory zeal.
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