“A rising tide raises all boats” is a common bromide found in political lexicon. If you ask a liberal, the phrase is meant to illustrate the fact that improving public services benefits the rich as well as the poor. If you ask a conservative, the phrase is meant to illustrate the fact that programs designed to benefit the creation of wealth through private sector innovation will have ripple effects that increases wealth in the population at large. Whichever interpretation you favour (be it the liberal one or the incorrect one), I suppose the point of convergence is that making economic improvements has broad-reaching benefits for many levels of society.
The problem with this aphorism is that it simplifies the ‘rise’ far too much. It gallingly neglects the fact that not all of those boats are raised the same amount. Ideally, programs that are designed to raise boats will do so in a roughly equal way (or, better, in an equitable way based on merit). The reality is that, depending on the nature of the program, some boats get catapulted into the stratosphere while others just bob in place. The increasing disparity in incomes that is currently part of the focus of the Occupy movement is evidence that it is possible to raise some boats while letting others get capsized.
The other side of this problem is that the discrepancies in rise is mirrored when tides drop: … Continue Reading

