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 Actually, it is easy to show that economic efficiency requires optimal inequality, not extreme inequality.
Daniel Freysinger@metaecongary @rbreich People are not machines to be optimized. Maybe we need to adjust our priorities and value the maximum good for the maximum number of people. Economics is indeed a dismal science when it disregards morality for the sake of productivity.
@daniel @rbreich Absolutely. The notion of optimal inequality comes out of dual interest theory in Metaeconomics, which sees ethics as key. When one brings the moral dimension, ethics in the wider system into play, the issue comes down to a moral and ethical inequality, an inequality which the other can go along with. And, said ethical inequality is essential to achieving economic efficiency and political stability.