Re:All Hollowed Out: The lonely poverty of America’s white w...
by w_t_payne on Tuesday January 19, 2016 @05:48AM
(#10929856)
We can't have the jobs that we want and make the things that we want if the market can't afford to buy them.
As well as focussing our discussion on economic equality and social justice, we can also approach the problem from a perspective of enlightened self-interest.
Widely distributed economic equality implies a greater ability to spend, and a greater ability to borrow, and a greater ability to create wealth in aggregate.
A wider distribution of wealth, on average, yields greater wealth overall.
This doesn't imply equality -- just a distribution of wealth that is closer to a Normal/Gaussian distribution, with less of it's "energy" disappearing off into the upper tail of the wealthy -- a tail which is necessarily inefficient due to its' bandwidth constraints and limited decision making capacity.
As well as focussing our discussion on economic equality and social justice, we can also approach the problem from a perspective of enlightened self-interest.
Widely distributed economic equality implies a greater ability to spend, and a greater ability to borrow, and a greater ability to create wealth in aggregate.
A wider distribution of wealth, on average, yields greater wealth overall.
This doesn't imply equality -- just a distribution of wealth that is closer to a Normal/Gaussian distribution, with less of it's "energy" disappearing off into the upper tail of the wealthy -- a tail which is necessarily inefficient due to its' bandwidth constraints and limited decision making capacity.