The Great Wealth Transfer by Paul Krugman
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The share of income received by the top 0.1 percent of Americans is twice the share received by the corresponding group in Britain, and three times the share in France. These days, to find societies as unequal as the United States you have to look beyond the advanced world, to Latin America.
This article obviously is strongly against the rising inequality. The article can go perhaps too far in some claims but overall is a worthwhile read on an important topic. My opinion is that too much income inequality is a danger sign for an economy. I also strongly appose huge inherited wealth and obscene CEO pay. But people doing well for themselves is not necessarily bad. The USA is better off for having Warren Buffett, Larry Page, Micheal Dell, Sergey Brin, Jeff Bezos… and I see nothing wrong with them amassing large sums. See more articles on the topic:
Income inequality from the Economist – “The evidence is mixed, at best, as to whether inequality depresses economic growth. Though it certainly can breed discontent, particularly if some people feel that they are being shut out of the American dream.”
The Rich Get (Much) Richer, Business Week:
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