Economist Don Boudreaux writes:
I care – very deeply – whether the process for pursuing one’s life’s goals is fair or not. I want everyone to have as fair a chance in the economy as is humanly possible. I despise special privileges that stack the deck either in favor of Jones or against Smith. … But I do not care about differences in monetary income or wealth as such.
If (by whatever criteria) the process is fair, then the outcomes are fair. If the process is not fair, then at least some outcomes are lamentable. …
Worrying about income (or wealth) differences as such has always for me smacked of childishness. It’s envy elevated into public policy.