A guest post by Daniel Miller
Take from the rich and give to the poor. A fantasy that millions have had for hundreds of years. It doesn’t work because once you take all the money from the rich (a/k/a those who know how to generate wealth), the economy collapses.
Believe it or not, for the first time in history we now have the capability to do wealth redistribution the right way.
For about a decade I have worked from home. Over three million employees do the same at least half the time. Millions more could also work remotely full time. But for some reason, companies still insist on making their employees congregate in crowded metropolises and spend valuable time commuting.
If these companies allowed their employees to work remotely and encouraged them to move to small, distressed communities, then wealth would flow to poorer areas in the right way. These employees would spend their money at stores, restaurants, service stations and hardware stores, which would boost the economy of the small towns. If the employees decided to build, then local labor would benefit from the construction. The poorer areas also tend to have fewer good educational opportunities, and an influx of taxes would help alleviate such problems.
The takeaway from this is, yes let’s encourage wealth redistribution. But don’t do it by stealing from the rich; instead, encourage companies to spread out and employees to move to small towns.