Robert ReichWealth inequality is eating this country alive. Concentrated wealth is already endangering our democracy. Wealth doesn’t just beget more wealth — it begets more power.
It’s a vicious cycle that destroys our economy and democracy at the same time.
Gary D Lynne@rbreich Need to reframe the conversation to finding optimal inequality... enough inequality to keep adequate incentives but not so much to drive resentment and breed support for Authoritarian Cons. See https://www.metaeconomics.info/post/adam-smith-on-income-and-wealth-inequality
Too Much Inequality? Time to Move Toward Optimal Inequality?
(Updated April, 2023) Krugman (2022) in the New York Times reminded me of what Adam Smith had to say about the matter of inequality, and, notice, I am talking here about inequality not redistribution. Krugman (2022) also points to the Realtime Inequality simulator developed by Thomas Blanchet, Emmanuel Saez, Gabriel Zucman, Department of Economics, at the University of California- Berkeley. The inequality in the US is unprecedented, and, needs to be dealt with. Also see Krugman, 2023, on the