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On the other hand it is quite unfair for people who were born wealthy and have never worked to enjoy more wealth than people who work 7 days a week non-stop. Under circumstances I would support the labor theory of value rather that the supply/demand theory.
There's also another thing: Money attracts money. It is much easier to make money if you are already rich. Actually, it is the first 100k that are hard to make. After that it's just decision making and good judgment.
I understand you believe in individualism and although I consider myself a collectivist, I wouldn't give up my freedom. Thing is: even though these terms sound very contradicting, the only realistic situations are somewhere in between. If we use extreme individualism and extreme collectivism as examples, both are destructive for both the individual and the collective. In extreme individualism the individual would isolate himself collapsing society, while in extreme collectivism the suppression of people's individuality would make society totally uncreative and bureaucratic.
What I consider a realistic approach to this bipole is to specify where individualism works best and where collectivism does. For example(1) i consider the privatization of natural resources hugely wrong. I would like to see the resources like water, oil, minerals, metals etc. collectively owned by the citizens of the countries they are found in. On the other hand(2), I want to be the owner of things that I create or produce (myself). If 3 of us put the same effort and resources into making something(3), that would automatically give each 33.3% share of the money selling it. The first case(1) is collectivist, the second(2) individualist and the third(3) a combination of both. Of course the above is a simplification to make the story short. This is actually too massive an issue to discuss here.
Anyway, I think I've put quite a lot of thinking into this and my conclusion is that neither is panacea. Roughly speaking I believe individual property is very justified for things we produce, while collective property is justified for things that are provided for by the environment or things that everyone has the same need for (eg. air). Frankly though, I understand that this 'rule' has many exceptions.