There’s not much to this post, just a kneejerk reaction to the title of Joe Conason’s column, “Now We Know: Economic Inequality Is a Malady ”.
I hope I’ve made clear that I think that the sort of income inequality that we have increasingly in the United States isn’t consistent with the kind of country I want this country to be. If not, let me repeat it. If not, let me repeat it. There’s room in the kind of country I’d like the United States to be for a very small number of very rich people, especially the ultra-talented, ultra-hardworking, and ultra-lucky. The epitome that sort of individual would be some sports figures, e.g. Michael Jordan, Tiger Woods.
Most of the rest of the people should earn medium-sized incomes and the preponderance of the country’s wealth should be in the hands of people who earn such incomes, whom we refer to here as “middle class” although our social classes are very different than social classes as they exist in most of the rest of the world. That’s no fantasy. It’s what the United States was like when I was younger.
Aspirationally, I’d like us to think of each other as equals.
The awful thing about the discussion of income inequality Dr. Piketty’s work has inspired is that the prescriptions that are being offered won’t produce more income equality. In other words, they’re snake oil.