No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Tuesday, October 7, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Economy

Equity, Racial Equality, and Wealth Redistribution

by TheAdviserMagazine
5 months ago
in Economy
Reading Time: 5 mins read
A A
Equity, Racial Equality, and Wealth Redistribution
Share on FacebookShare on TwitterShare on LInkedIn


Ludwig von Mises warned that socialists are constantly changing their terminology to disguise their schemes, all of which are designed to undermine individual liberty and private property. Regardless of the terminology they use, their ultimate goal is to vest as much property as possible in the hands of the state or—failing that—to grant the state increasing power to assign and control private property. One major way in which the state controls private property is through wealth redistribution. The Marxist “permanent revolution” is therefore mounted through various forms of wealth redistribution. The idea of the “permanent revolution” is that all revolutions that lead towards “the dictatorship of the proletariat” are connected, each building on the gains made by the previous revolution. In “The Permanent Revolution,” Trotsky wrote:

For an indefinitely long time and in constant internal struggle, all social relations undergo transformation. Society keeps on changing its skin. Each stage of transformation stems directly from the preceding. This process necessarily retains a political character, that is, it develops through collisions between various groups in the society which is in transformation. Outbreaks of civil war and foreign wars alternate with periods of ‘peaceful’ reform. Revolutions in economy, technique, science, the family, morals and everyday life develop in complex reciprocal action and do not allow society to achieve equilibrium. Therein lies the permanent character of the socialist revolution as such.

The notion of “equity,” which is familiar to many as a component of “diversity, equity and inclusiveness,” should be seen in that light—it is merely the latest terminology used to justify wealth redistribution and thereby advance the permanent revolution. Equity, as used in the context of DEI, expresses the idea of “substantive equality,” which states that formal equality or equality before the law does not suffice. The argument is that equality should be “real”—people should actually be equal in reality, not just equal in theory.

The “substantive equality” arguments used to justify DEI have provided the rationale for promoting equal outcomes, which, in turn, requires the redistribution of wealth. Wealth redistribution is a goal that appeals to egalitarians because it expresses ideals to which egalitarians are already committed. Even though they may not consider themselves “socialists,” because they consider property rights to be worth defending at least to some extent, they nevertheless support the idea that outcomes should be equalized as part of substantive equality. In this way, under various guises, the ideal of “equality” has played a central role in advancing the Marxist permanent revolution. A good example of how wealth redistribution undermines property rights by adopting the mantle of equality can be seen in the Radical Republican rhetoric of the post-bellum United States.

Confiscation of Confederate Property 

The confiscation of private property under the Confiscation Act of 1861 was not originally justified in the language of wealth redistribution. Rather, it was explicitly framed as part of Lincoln’s war effort. Its goal was stated as: “to allow the federal government to seize property, including slave property, being used to support the Confederate rebellion.” Further laws were later enacted during the war, granting power to “seize the property of rebels”:

SEC. 5. And be it further enacted, That, to insure the speedy termination of the present rebellion, it shall be the duty of the President of the United States to cause the seizure of all the estate and property, money, stocks, credits, and effects of the persons hereinafter named in this section, and to apply and use the same and the proceeds thereof for the support of the army of the United States…

The “persons hereinafter named” included Confederate officers as well as anyone who “shall hereafter assist and give aid and comfort to such rebellion.” Court proceedings were to be instituted for due process, to ensure that “said property, whether real or personal, shall be found to have belonged to a person engaged in rebellion, or who has given aid or comfort thereto.” If so, the property was to be “condemned as enemies’ property and become the property of the United States.” After the war, this power to seize the property of rebels gradually lost its connection to the war or to punishing the rebellion, and became increasingly redistributive in its aims and rhetoric.

In his article “Forty Acres and Mule,” Walter Fleming explains how the power to seize enemy property was at first understood as a form of “confiscation and division of property” to punish those who had participated in the rebellion. Thaddeus Stevens—the leading proponent of confiscating Confederate property—stated that the aim was “to pay the expenses of the war, to punish the Confederates, and to provide for ‘loyalists’ and for the blacks. The white people of the South, Steven said in 1863, were entitled to no rights of person or property.”

Over time, the idea that the confiscated property should be given to the freed slaves assumed increasing political importance. The Freedmen’s Bureau was established to hold property confiscated from the “rebels” and provide support for the freedmen, through such measures as parceling out land and providing them with regular food supplies. The political rhetoric became more blatantly redistributionist, emphasizing the desire to seize property from the vanquished foe and award it to the freed slaves. Fleming notes that:

[Thaddeus] Stevens, in a speech to his constituents at Lancaster, Pennsylvania, in the summer of 1865, declared that each negro family to receive forty acres of land, and that sufficient land should be secured by confiscating the estates of those Confederates who had owned over two hundred acres, and by seizing the lands belonging the Southern States.

The Radical Republicans appear to have lost all interest in whether the property owners “gave aid and comfort” to the rebels and were soon more concerned with how much property white Southerners owned. The goal was to split larger farms into smaller parcels to facilitate redistribution. Stevens reiterated this view in Congress, and as Fleming observes, “as time went on he was more and more strongly in favor of it.” After displacing Andrew Johnson, the Radical Republican faction became the most influential group in the Republican Party, all of whom were in favor of “confiscation from whites and provision for the blacks.” By this point, the policy was explicitly one of wealth redistribution—confiscating property from whites to give to blacks—disguised as justice for freed slaves. This was not expressed as a general desire to give federal property to freed slaves, but was specifically aimed at seizing private property owned by Confederate sympathizers for redistribution on the same pattern as the precedent set in 1865. Fleming notes that,

The barns, storehouses, offices, dwellings, public buildings, court-houses, hospitals, prisons, armories, arsenals, ironworks, boats, mills, factories, and all kinds of supplies used by or intended for the use of the Confederacy were seized and, for the most part, after June 2d, 1865, were given for the use of the blacks. Church and school buildings belonging to the whites were given to the missionaries for the negroes. Property in the hands of the Bureau was sold or rented, and the proceeds applied to the support of the blacks or given directly to them. Naturally, the negroes thought that they were in permanent possession, and the policy of the Bureau encouraged them in this belief.

The cautionary tale to derive from this history lies in the conflict over property rights that soon erupted. Fleming explains how disputes over property title soon descended into violence and racial strife, as the “rebels”—who were the vast majority of white Southerners—secured their titles and the blacks, to whom this property had been promised, felt that they had been cheated. The effects of this disastrous attempt to achieve justice through expropriation reverberate to this day.



Source link

Tags: EqualityequityRacialRedistributionwealth
ShareTweetShare
Previous Post

Israel sends mixed messages to China on infrastructure projects

Next Post

Key Details, Dates, and How to Apply

Related Posts

edit post
WTO hikes global trade forecast for 2025; slowdown expected in 2026

WTO hikes global trade forecast for 2025; slowdown expected in 2026

by TheAdviserMagazine
October 7, 2025
0

A cargo ship sits outside of the Port of Elizabeth marine terminal seen from Bayonne, New Jersey, U.S., April 9...

edit post
Mises on Separating Morality and State

Mises on Separating Morality and State

by TheAdviserMagazine
October 7, 2025
0

A recent surge of politically-motivated violence, dramatically underscored by the shocking assassination of Charlie Kirk, has left many Americans wondering...

edit post
Digital ID in the Cradle of Liberty (My Last EconLog Post)

Digital ID in the Cradle of Liberty (My Last EconLog Post)

by TheAdviserMagazine
October 7, 2025
0

On September 26, the British prime minister’s office announced that “A new digital ID scheme will help combat illegal working...

edit post
Links 10/7/2025 | naked capitalism

Links 10/7/2025 | naked capitalism

by TheAdviserMagazine
October 7, 2025
0

This is Naked Capitalism fundraising week. 1108 donors have already invested in our efforts to combat corruption and predatory conduct,...

edit post
The Pieces Of The Resolution The Democrats DON’T Want You To See

The Pieces Of The Resolution The Democrats DON’T Want You To See

by TheAdviserMagazine
October 7, 2025
0

  Health care spending has been at the forefront of the Democrats’ tantrum that led to the government shutdown. Where...

edit post
Military pay date may pressure Trump and Congress if shutdown drags on

Military pay date may pressure Trump and Congress if shutdown drags on

by TheAdviserMagazine
October 6, 2025
0

Soldiers march during a military parade to commemorate the U.S. Army's 250th Birthday in Washington, D.C., U.S., June 14, 2025....

Next Post
edit post
Key Details, Dates, and How to Apply

Key Details, Dates, and How to Apply

edit post
The Single Biggest Risk That Could Stop Your Early Retirement

The Single Biggest Risk That Could Stop Your Early Retirement

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
Tips to Apply for Mental Health SSDI Without Therapy

Tips to Apply for Mental Health SSDI Without Therapy

September 19, 2025
edit post
WTO hikes global trade forecast for 2025; slowdown expected in 2026

WTO hikes global trade forecast for 2025; slowdown expected in 2026

0
edit post
XRP Is Already Penetrating SWIFT’s Network Through Multiple Entry Points, Expert Highlights How

XRP Is Already Penetrating SWIFT’s Network Through Multiple Entry Points, Expert Highlights How

0
edit post
The Millionaire Morning: How 88% of the Rich Start Their Day

The Millionaire Morning: How 88% of the Rich Start Their Day

0
edit post
Top analyst on concerns about Nvidia fueling an AI bubble: ‘We’ve seen this movie before. It was called Enron, Tyco’

Top analyst on concerns about Nvidia fueling an AI bubble: ‘We’ve seen this movie before. It was called Enron, Tyco’

0
edit post
Webinars That Convert: Fill Seats, Book Consults

Webinars That Convert: Fill Seats, Book Consults

0
edit post
What Makes Pathward Financial (CASH) an Investment Bet?

What Makes Pathward Financial (CASH) an Investment Bet?

0
edit post
XRP Is Already Penetrating SWIFT’s Network Through Multiple Entry Points, Expert Highlights How

XRP Is Already Penetrating SWIFT’s Network Through Multiple Entry Points, Expert Highlights How

October 7, 2025
edit post
Top analyst on concerns about Nvidia fueling an AI bubble: ‘We’ve seen this movie before. It was called Enron, Tyco’

Top analyst on concerns about Nvidia fueling an AI bubble: ‘We’ve seen this movie before. It was called Enron, Tyco’

October 7, 2025
edit post
The Millionaire Morning: How 88% of the Rich Start Their Day

The Millionaire Morning: How 88% of the Rich Start Their Day

October 7, 2025
edit post
Ray Dalio says today is like the early 1970s and investors should hold more gold than usual

Ray Dalio says today is like the early 1970s and investors should hold more gold than usual

October 7, 2025
edit post
Hedge fund billionaire Paul Tudor Jones says 2025 is ‘so much more potentially explosive than 1999’ because of the way bull markets always end

Hedge fund billionaire Paul Tudor Jones says 2025 is ‘so much more potentially explosive than 1999’ because of the way bull markets always end

October 7, 2025
edit post
CEA Industries’ BNB Holdings Soar as Price Hits ,300

CEA Industries’ BNB Holdings Soar as Price Hits $1,300

October 7, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • XRP Is Already Penetrating SWIFT’s Network Through Multiple Entry Points, Expert Highlights How
  • Top analyst on concerns about Nvidia fueling an AI bubble: ‘We’ve seen this movie before. It was called Enron, Tyco’
  • The Millionaire Morning: How 88% of the Rich Start Their Day
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.