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: Bench Memos - National Review OnlineThe Inequality Fetish
By Patrick Brennan
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.
Keep reading this post . . .
Full post as published by Bench Memos - National Review Online on June 22, 2012 (boomark / email).
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Fabiana V. P. Machado (Inter-American Development Bank) has posted Inequality and Demand for Redistribution on SSRN. Here is the abstract: Inequality has been found to affect the functioning of democracy in different ways...
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Increasing Income Inequality Around the World
The Economist, Income inequality: Rich and Poor, Growing Apart: Think income inequality growth is primarily an American phenomenon? Think again: : American society is more unequal than those in most other OECD countries, and growth in inequality there has been relatively large...
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