Income inequality’s sick joke: A rising tide only lifts luxury yachts

For a long time, the right has argued that we shouldn’t worry about inequality because the true concern is the reduction of poverty. Conservatives also maintained that higher levels of inequality were unimportant because “a rising tide would lift all boats,” and high levels of inequality propelled the economy forward. New research by Branko Milanovic and Roy van der Weide decimates these myths. Milanovic and van der Weide find that… Read more…

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