Uber economist Larry Summers notes that the stylized facts of his youth have been remade on rising income inequalities.
After asking, "What is to be done?", this apparently doesn't shake his faith that there is some way to be found in which capitalism doesn't favor ... capital. Scratching head on that one ...
Anyway, I have an alternative answer.
The antidote to free-market re-distribution is to provide the freedoms that a society couldn't afford, arguably, in the past: a single-payer healthcare system is a GREAT place to start!
(Thanks. No charge for these observations, this helpful service, Larry. Is that so wrong?)
Saturday, June 30, 2007
Income Inequality
