Monday, April 21, 2014

Inequality Is Not the Issue, Declining Median Income and Wealth IS

I love contrarians.  Here’s a contrarian book review – of Thomas Piketty's "Capital in the Twenty-First Century".  By all accounts it’s an interesting review of Piketty’s research into capital accumulation over the past several centuries.  But his globs on a shriek of a warning about impending doom from inequality.  Inequality has risen in recent years and all else being equal, that’s a bad thing.  But the most important issue to most people isn’t inequality it is declining income and wealth.  THAT IS HAPPENING and IS a threat to democracy.  Know any good books on that topic?
The Most Important Book Ever Is All Wrong - Bloomberg View
http://www.bloombergview.com/articles/2014-04-20/the-most-important-book-ever-is-all-wrong

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