The Inequality Trap

The Inequality Trap

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US President Barack Obama has called economic inequality the a€œdefining issue of our time.a€ It has inspired the a€œOccupya€ movements, made a French economist into a global celebrity, and given us a new expression a€“ the a€œone percent.a€ But is our preoccupation with inequality really justified? Or wise? In his new book, William Watson argues that focusing on inequality is both an error and a trap. It is an error because much inequality is a€œgood, a€ the reward for thrift, industry, and invention. It is a trap because it leads us to fixate on the top end of the income distribution, rather than on those at the bottom who need help most. In fact, if we respond to growing inequality by fighting capitalism rather than poverty, we may end up both poorer and less equal. Explaining the complexities of modern economics in a clear, accessible style, The Inequality Trap is the must-read rejoinder to the idea that fighting inequality should be our top policy priority.Harvard, MIT, Princeton, and the University of Chicago), while numbers 3, 7, and 8 (Oxford, Cambridge, and Imperial ... and less than half the revenue generated by tuition and fees, which makes it not very public at all (UC Berkeley 2012: 1).

Title:The Inequality Trap
Author:William Watson
Publisher:University of Toronto Press - 2015-09-15


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