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Federal Judiciary

: Bench Memos - National Review Online

The Inequality Fetish

By Patrick Brennan

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There must be something in the water in Oslo: Nobel laureates, from our president to Paul Krugman and Joseph Stiglitz, all agree that high levels of inequality are a serious problem, if not the problem, facing our weak economy.

According to this liberal thesis, either the 2008 financial crisis and its attendant recession, or the sluggish recovery — and maybe both — can be attributed in large part to the high level of economic inequality in the United States. Further, in this view, inequality is an economic malady on its own, even in times of prosperity. Liberal commentators, of course, assert this as if it were a truism, but worse, economists of real distinction trumpet it like scientific fact.

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Full post as published by Bench Memos - National Review Online on June 22, 2012 (boomark / email).

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