The problem with equality

As the standard mantra these days goes, more equality is better, right?

So, how much better is this much more equality?

While a university leaver in the bottom 10pc of graduate earners in 2001 could have expected to land a salary worth 82pc more than a worker on the minimum wage, by 2023 the premium was just 11pc – a fall in today’s money from almost £11,200 to around £2,350.

The finding comes after a recent study found that British workers are more likely to be overqualified than in any other rich OECD country, stoking fears of what is known within the education industry as a “brain waste” crisis.

Oh. That would be not much better at all then.

We are willing to entertain the idea that too little equality might not be a good idea. Say, local politicians being able to drive their cavalcade of official cars through Zil-lanes on the way to collecting their state honours while the lumpen have to use Shank’s Pony to collect their potatoes.

But, of course - Ha Ha - such is only an historical relic, a memory, of the Soviet years. Couldn’t possibly happen here.

But as is clear it’s possible to have too much equality as well. Which is where we do seem to be. So a thought for the New Year, as the man said - moderation in all things.

Tim Worstall