It makes no sense to assume the premise that all financial outcomes are perfectly aligned with merit. Two people that are just as smart and work just as hard are not going to have identical results. Some people are luckier than others. Before you’re born if you don’t know who you’re going to be, wouldn’t you hedge your bets, agree that no one should take home the whole pie, so that you don’t end up totally screwed?
And even if the market magically operated perfectly, it’s only an exchange process highly dependent on initial conditions. The only way anarcho-capitalism makes remote sense is if the there was a just initial distribution. Instead power is concentrated in the hands of those holding the most leverage over the rest of us whether sitting at (or behind) the levers of political power or on top of a hole in the ground.
American libertarianism just seems to be based more on some folk story of economic markets instead of actually looking the economic research coming to light.
Dan Pink “The Surprising Truth About What Motivates Us”
American Psychological Association, “If I Were a Rich Man . . .”
Wealth, Income, and Power