Some people believe reducing the gap between rich and poor is the best way to guarantee social happiness. In this essay, I will challenge this school of thought
Certainly, one might argue that these economic reforms can foster a more equal social environment. This predicated on the assumption that the wealthiest 1% own half of the world while poorer people struggle to make ends meet. According to this theory, such a measure leads to greater equality in opportunities and rights between social classes. However, this line of reasoning is not sound as rich people possess a vast amount of experiences and skill, thus, lower compensation is simply unjustified. In addition, the gap between rich and poor could also serve as effective motivation for individuals. Therefore, narrowing this gap can diminish the competitive nature and impede social progress.
To add further credence to my assertion, I argue that prioritising health and education is the most effective way to ensure social well-being. A quality educational system not only empowers individuals but also lays the foundation for sustained economic growth, while investing in healthcare infrastructure such as hospitals and medical facilities can foster healthier communities. By utilising taxes on wealth, the government can subsidise disadvantaged people, guaranteeing that everyone has the right to access these essential services regardless of socioeconomic status. These actions, I believe, have the potential to pave the way for a happier, more equitable society without the need to reduce the gap between the rich and poor.
In conclusion, it is a mistake to assume that narrowing the gap in remuneration between the rich and poor is the best way to foster a happier society because the key is to focus on health and education.