The Upside of Inequality
Following on from Monday's post, click here to read an op-ed on the pros and cons of inequality, which draws heavily on Angus Deaton's work. It argues that inequality is good if it occurs as a result of industrialisation / innovation and if it spurs further innovation. However, too much inequality can undermine support for the political system and private enterprise. In other words, there is an optimal amount of inequality!