Since men value power and prestige as much as the possession of wealth—indeed, these three 'goods' cannot be completely separated—it is foolish to seek to establish an equality of wealth on egalitarian grounds. It is foolish first because it will not result in what egalitarians really want. It is foolish also because if we do not let men compete for money, they will compete all the more for power; and whereas the possession of wealth by another man does not hurt me, unless I am made vulnerable by envy, the possession of power by another is inherently dangerous; and furthermore if we are to maintain a strict equality of wealth we need a much greater apparatus of state to secure it and therefore a much greater inequality of power. Better have bloated plutocrats than omnipotent bureaucrats.
(J. R. Lucas, "Against Equality," Philosophy 40 [October 1965]: 296-307, at 305)
Keith Burgess-Jackson, J.D., Ph.D. 