Monday, July 28, 2014

Nye on Inequality

Article Link

from the article:

But ultimately, income is not a question of how many zeroes are in your bank account, but how much you can buy in goods and services. People have tried to circumvent this by measuring not just income but consumption.

and

Our fixation on income inequality (which I am certain will not disappear under any feasible policies) will obscure the fact that trying to tax away or regulate those inequalities will give more play to inequalities that are even less tractable, like social or political connections.

Source: John Nye, "Real Inequality: Why Things Are Better Than They Seem and Will Almost Surely Get Worse," Mercatus Center, |July 17, 2014

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