How Income Inequality Harms Societies

Written by deneeneb on . Posted in Blog

When people talk about income inequality, they often debate as if it’s a moral hazard. That’s a fair point, to discuss the morality of the rich controlling so much wealth. But, to quote Hal Holbrook: You’re missing the overall.

The problem with income inequality is that it messes up the economy for everybody — including the rich. It creates massive problems at every level of society, from productivity and growth to life expectancy and mental illness, from the ability to keep the peace to the ability to educate our children. The United States of America has the worst income inequality of any developed nation in the world. And it’s ruining us.
Yes, Richard should invest in an iron. But the point still stands …


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