Thursday, October 16, 2014
The rich American know that inequality is too high but nothing should be done about it
There are now a growing number of webpages and projects on inequality, particularly on the US. One of the most interesting is Equitable Growth. In their blog, there is today three useful entries on the evolution of income at the top. Two of the articles are interesting but do not say much new. The third is actually quite striking. Fiona Chin from Northwestern University has interviewed a group of very rich Americans and concluded that " The wealthy know that economic inequality is rising, but they do not agree that anything should or can be done to reverse the trend". Is this the vision of the rich in all parts of the world like Latin America? Probably yes. The question is: will the situation stay the same if nothing is done? Or are they being a little too naive?