The main problem is a meta-problem, in other words. Inequality matters because, like it or not, inequality matters. In most states of the world, inequality will tend to rise unless countered, by economic shocks or deliberate policy choices. Active concern over and management of inequality may help reduce the odds that society rejects as unjust the institutions underlying an economy, potentially in chaotic and violent fashion.
04 June 2014
Reading "Capital": Chapters 10, 11, and 12
Ryan Avent
