‘Monopoly’ is not economic model

The statistics covered in The Herald’s Wednesday editorial on U.S. income inequality are important, but not new. (“Fat times for the fattest cats.“) As the nation’s wealth increasingly accumulates at the top, the middle class is financially starved and unable to fuel our consumer-oriented economy.

Over the last 30-plus years people have tried putting their wives to work, working more overtime, and most recently simply borrowing the money — all to no avail.

During the last presidential election the notion of income redistribution was the cause for much derision, principally among Republicans. They believed we should be free to keep as much money as we can earn. Personal gain is an important motivation but without some limits it’s clear it won’t work well over the long term.

I’m reminded of the Monopoly board game. In this iconic capitalist game, the winner is the last player in the game. Then, after some playful banter among the players, a new game is started and everyone has another chance.

This makes for a great board game, but it isn’t a good economic model (social meltdowns are not like playful banter). Like it or not, we require a means for balancing all of our needs. As the corrosive effects of extreme income inequality are becoming clear, we shouldn’t be dismantling the regulatory systems necessary for maintaining a healthy and enduring society.

Paul Olafson
Snohomish