John Cassidy — Inequality 101: The Picket Fence And The Staircase

I should acknowledge that many conservatives still believe that inequality isn’t anything to worry about. Some of them say that commonly used statistics, such as the ones I have cited, exaggerate the inequities in the U.S. economy. Others argue that inequality is healthy—a sign that innovation and entrepreneurship are being rewarded. Here are a couple of places where you can find out more about these viewpoints. The first is by Diana Furchtgott-Roth, of the Manhattan Institute. The second is a PBS NewsHour interview with Richard Epstein, of the law school at N.Y.U.

I don’t find these arguments convincing. In the words of the Economic Report of the President: “The confluence of rising inequality and low economic mobility over the past three decades poses a real threat to the future of the United States as a land of opportunity.

The New Yorker
Inequality 101: The Picket Fence And The Staircase
John Cassidy
(h/t Brad DeLong)