... wealth inequality is much more important than income inequality in determining access to opportunity. Severe wealth inequality raises the chance that an opportunity in the economy will go to a rich, stupid person rather than a poor, smart one. This misallocation of opportunities hurts economic efficiency and growth, making the pie smaller for everyone. Right now, the United States has some of the highest wealth inequality in the world ...
Read about wealth inequality in America and 7 other economic trends that the good people at Foreign Policy think we should be looking out for in 2014 here.
Click here for a solid book review (with graphs) that offers more reasons why extreme wealth inequality is not good for society.
- Mark
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