Income disparity: what is fairness?

We've seen it too many times on the news: angry protesters taking to the streets to march against authorities. But this time, it seems politics and government policies are no longer (directly) the trigger of waves of unhappiness that have swept across numerous developed countries like a pandemic. It is a march against the congregation of wealth in the hands of the elite in the upper strata of society. It is a march for fairness in society. It is the "Occupy Wall Street" movement. As the "Occupy Wall Street" movement consumes the globe like wildfires, it is perhaps time for us to consider what is fairness in income distribution. What exactly would one consider as "fairness" in income distribution? Many of those involved in the recent protests would probably consider the rise of the "elite" in society as a sign of unfairness, that these individuals should not control the wealth of society. But why then, did they even reach that state to begin with?

So now, I guess I should start with my definition of fairness. In my opinion, fairness should be rewarding people with what they deserve from their labour and talents. Individuals who toil harder than others should be rewarded with a greater income than their peers who gave up on material benefits for a life of simpler pleasures. Indeed, those who put in the extra effort to do what their counterparts are unwilling to do should be allowed to live a life of luxuries to compensate for their sacrifices made in their careers. Thus, it is unavoidable that wealth would congregate in the hands of certain individuals even if all men were born with the same intellectual rigour, as the difference in the value each person places on his or her career and thus the effort they are willing to put in would differ, resulting in the more hardworking individuals amassing wealth beyond the rest.

Also, some individuals simply earn more than others because of their innate talents. Individuals who are more skilled or capable would be able to complete tasks more efficiently and achieve desired results at a success rate higher than average individuals. For such individuals, it is only natural that they earn more that others because the market demand for such individuals would push up their wages. This is inevitable as companies strive to increase their revenue and compete for the same talent pool. After all, companies are often responsible for the money invested by numerous stakeholders. It is only natural that these stakeholders would entrust their money to only those with the calibre to make the most of their money. These individuals who control the assets of the numerous stakeholders are also justified for having such a high salary as their responsibility is unlike the average man on the street.

Thus, before we are quick to shoot down the Nouveau Riche, we should consider how they even accumulated their wealth to begin with. For the process to have even started means there might just be some justification to their present state. Of course, there are times when the elite and the seemingly infallible decision makers fail to guide their corporations on the right path, but for most parts, have these men been at fault all the time? Even if that was the case, there may not be a better solution, and definitely not government control to the extent of nationalisation of companies.