The Boots theory of socio-economic unfairness

A decent pair of boots costs £100. An inferior pair costs £50.

The man who can afford the £100 pair has less need of them than the man who can only afford the £50 pair (he has a white collar job and his own private transport). They last the wealthier man a lifetime. The poorer man has to replace his inferior boots three times in his lifetime, meaning that an economically disadvantaged person has paid twice as much for the same level of utility.

This is an inefficient distribution of goods by the market, which impacts negatively on a society's economic productivity. How to overcome this? Price control of essential goods? Redistribution of wealth through tax credits or similar? State control of boot production?

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goodlil666 · 51-55, M

Interesting analogy about boots and for the point your trying to make I would have to agree with you. My life's experience has been a bit different though. Growing up on a farm I learned early the value of a quality pair of boots. And spending the better part of the next 45 years working in construction and industrial manufacturing positions I have no reservations about spending $300 for a pair of work boots. They last me 10-15 yrs and can be repaired.

I don't have the answers to your questions although I do believe the redistribution of wealth and the overhaul of the tax system especially corporate tax laws would be a good start. And reestablish a strong healthy widespread middle class compared to the near 2 classes that exist today. Just my opinion and you know what they say about opinions. LOL

At least in America anyway. Your experience and socio- economic conditions may be different.

SunshineGirl · 36-40, F

@goodlil666 I was brought up in a military family and learned from an early age that correct footwear can be the difference between life and death, so not just another consumable good.

My main point is that the free market does not always distribute goods efficiently (ie. getting the right goods to the right people at the right time). My own professional interest is in housing, an even more essential and more constricted commodity. I would use the tax system to disincentivise second home ownership and speculative investment, which in my opinion has done more than anything else to keep prices artificially high.

For boots, I am still not entirely sure.