When is inequality harmful? When it's caused by cronyism | WashingtonExaminer.com - Timothy P. Carney:
December 6, 2013: "President Obama wants to put inequality at the center of America's political discourse. Fine. Here’s the opening question: 'Does inequality matter?'
The answer: 'It depends.' It depends on how governments react to inequality, it depends on how developed the country is, it depends on whether it's wealth inequality or income inequality.
"It also depends on how the wealthy got wealthy, according to a recent academic study. In short: Inequality doesn’t hurt a country, unless the inequality results from government favors.
"Inequality can be messy to talk about, because it is entangled in many different concepts that need to be considered separately."
Read more: http://washingtonexaminer.com/when-is-inequality-harmful-when-its-caused-by-cronyism/article/2540338
'via Blog this'
December 6, 2013: "President Obama wants to put inequality at the center of America's political discourse. Fine. Here’s the opening question: 'Does inequality matter?'
The answer: 'It depends.' It depends on how governments react to inequality, it depends on how developed the country is, it depends on whether it's wealth inequality or income inequality.
"It also depends on how the wealthy got wealthy, according to a recent academic study. In short: Inequality doesn’t hurt a country, unless the inequality results from government favors.
"Inequality can be messy to talk about, because it is entangled in many different concepts that need to be considered separately."
Read more: http://washingtonexaminer.com/when-is-inequality-harmful-when-its-caused-by-cronyism/article/2540338
'via Blog this'
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