{"id":8007,"date":"2013-07-04T21:08:14","date_gmt":"2013-07-05T01:08:14","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=8007"},"modified":"2013-07-04T21:08:14","modified_gmt":"2013-07-05T01:08:14","slug":"whats-wrong-with-inequality","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/","title":{"rendered":"What&#8217;s wrong with inequality?"},"content":{"rendered":"<p>Robert Douglas summarizes the argument against inequality presented by Andrew Leigh, economist and (Labour) parliamentarian, in his book <em>Battlers and Billionaires<\/em>:<\/p>\n<blockquote><p>Leigh sees inequality as a socially corrosive force undermining the egalitarian spirit that has been one of the positive defining characteristics of Australian society. He argues that unequal wealth demands attention from our political system and that there are a variety of ways in which it can be addressed.<\/p><\/blockquote>\n<p>There has been much hand-wringing from the left about rising inequality, but I believe this is an attempt to frame the political debate along class lines &#8212; the rich against the rest &#8212; as Barack Obama succeeded in doing, with the able assistance of Mitt Romney, in 2012. Framing the debate in relative terms is shrewd politics. An attempt to distract voters from the real issues:<\/p>\n<ul>\n<li>Is poverty rising or falling?<\/li>\n<li>Is general health, as reflected by life expectancy, improving or deteriorating?<\/li>\n<\/ul>\n<p>Poverty is a subjective concept, as Thomas Sowell points out:<\/p>\n<blockquote><p>Most Americans with incomes below the official poverty level have air-conditioning, television, own a motor vehicle and, far from being hungry, are more likely than other Americans to be overweight.<\/p><\/blockquote>\n<p>Life expectancy, however, is difficult to fudge.<\/p>\n<p>Inequality, as I said earlier, is relative: we can have declining poverty and rising life expectancy while inequality is growing. In fact when the economy is booming and employment rising, inequality is also likely to be growing. Do we really want to kill the goose that lays the golden eggs? Raising taxes to discourage new entrepreneurs? That is what targeting inequality can succeed in doing: harming the welfare of all rather than improving the welfare of the poor at the expense of the rich.<\/p>\n<p>Instead we should focus on job creation and health improvements. And if that means creating incentives to encourage entrepreneurs, so be it, provided we all benefit.<\/p>\n<p>The fact that inequality rose after the GFC is an anomaly that is unlikely to persist in the long term. The wealth of the masses are predominantly represented by real estate, while the rich hold a far higher percentage of their wealth in financial assets: stocks and bonds. Housing was hardest hit by the GFC and has taken longest to recover, causing a surge in inequality readings. That is not the fault of the rich &#8212; apart from a few investment bankers &#8212; and in fact we should learn from their experience. Real estate investment may have served us well in the past, but that is likely to change with the end of the credit super-cycle. We will need to concentrate a far higher percentage of our investment in stocks and bonds.<\/p>\n<p>Read more at <a href=\"https:\/\/theconversation.com\/inequality-health-and-well-being-time-for-a-national-debate-15764?utm_medium=email&amp;utm_campaign=Latest+from+The+Conversation+for+5+July+2013&amp;utm_content=Latest+from+The+Conversation+for+5+July+2013+CID_66170e5224fc5aab5288540358054bdf&amp;utm_source=campaign_monitor&amp;utm_term=Inequality%20health%20and%20well-being%20time%20for%20a%20national%20debate\">Inequality, health and well-being: time for a national debate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Robert Douglas summarizes the argument against inequality presented by Andrew Leigh, economist and (Labour) parliamentarian, in his book Battlers and Billionaires: Leigh sees inequality as a socially corrosive force undermining the egalitarian spirit that has been one of the positive defining characteristics of Australian society. He argues that unequal wealth demands attention from our political &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;What&#8217;s wrong with inequality?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,5,34],"tags":[887,1377,1732,1826],"class_list":["post-8007","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-economy","category-us-canada-countries-regions","tag-credit-super-cycle","tag-financial-assets","tag-housing","tag-inequality"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What&#039;s wrong with inequality? - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What&#039;s wrong with inequality? - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Robert Douglas summarizes the argument against inequality presented by Andrew Leigh, economist and (Labour) parliamentarian, in his book Battlers and Billionaires: Leigh sees inequality as a socially corrosive force undermining the egalitarian spirit that has been one of the positive defining characteristics of Australian society. He argues that unequal wealth demands attention from our political &hellip; Continue reading &quot;What&#8217;s wrong with inequality?&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2013-07-05T01:08:14+00:00\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"What&#8217;s wrong with inequality?\",\"datePublished\":\"2013-07-05T01:08:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/\"},\"wordCount\":456,\"commentCount\":9,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"credit super-cycle\",\"financial assets\",\"housing\",\"Inequality\"],\"articleSection\":[\"Australia &amp; NZ\",\"Economy\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/\",\"name\":\"What's wrong with inequality? - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2013-07-05T01:08:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What&#8217;s wrong with inequality?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thepatientinvestor.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\",\"name\":\"ColinTwiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"caption\":\"ColinTwiggs\"},\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/author\/colin58s\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What's wrong with inequality? - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"What's wrong with inequality? - the patient investor","og_description":"Robert Douglas summarizes the argument against inequality presented by Andrew Leigh, economist and (Labour) parliamentarian, in his book Battlers and Billionaires: Leigh sees inequality as a socially corrosive force undermining the egalitarian spirit that has been one of the positive defining characteristics of Australian society. He argues that unequal wealth demands attention from our political &hellip; Continue reading \"What&#8217;s wrong with inequality?\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_published_time":"2013-07-05T01:08:14+00:00","author":"ColinTwiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ColinTwiggs","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/"},"author":{"name":"ColinTwiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5"},"headline":"What&#8217;s wrong with inequality?","datePublished":"2013-07-05T01:08:14+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/"},"wordCount":456,"commentCount":9,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"keywords":["credit super-cycle","financial assets","housing","Inequality"],"articleSection":["Australia &amp; NZ","Economy","US &amp; Canada"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/","name":"What's wrong with inequality? - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"datePublished":"2013-07-05T01:08:14+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/04\/whats-wrong-with-inequality\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"What&#8217;s wrong with inequality?"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5","name":"ColinTwiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","caption":"ColinTwiggs"},"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/colin58s\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-259","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":10062,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/06\/22\/the-inequality-debate-richard-epstein\/","url_meta":{"origin":8007,"position":0},"title":"The inequality debate | Richard Epstein","author":"ColinTwiggs","date":"June 22, 2014","format":false,"excerpt":"Professor Richard Epstein on the inequality debate and related issues in the US. http:\/\/vimeo.com\/98678656","rel":"","context":"In &quot;Taxes &amp; Inequality&quot;","block_context":{"text":"Taxes &amp; Inequality","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/taxes-inequality\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10064,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/06\/22\/the-inequality-debate-thomas-piketty-and-ryan-bourne-iea\/","url_meta":{"origin":8007,"position":1},"title":"The inequality debate | Thomas Piketty and Ryan Bourne IEA","author":"ColinTwiggs","date":"June 22, 2014","format":false,"excerpt":"The inequality debate: Thomas Piketty and Ryan Bourne, of the Institute of Economic Affairs. http:\/\/vimeo.com\/98715433 One mistake Piketty makes: he uses a marginal tax rate of 80% in the US in the 1920s and 1930s on incomes over $1 million to justify higher taxes on incomes over $1 million today.\u2026","rel":"","context":"In &quot;Taxes &amp; Inequality&quot;","block_context":{"text":"Taxes &amp; Inequality","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/taxes-inequality\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4561,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/06\/stiglitz-conard-debate-income-inequality\/","url_meta":{"origin":8007,"position":2},"title":"Stiglitz, Conard Debate Income Inequality","author":"Colin Twiggs","date":"June 6, 2012","format":false,"excerpt":"Some sweeping generalizations from Stiglitz and Conard denial that the Fed was architect of the 2007\/2008 asset bubble but some interesting insights from both parties. http:\/\/youtu.be\/U4T2aqZyM9w Edward Conard, a former managing director at Bain Capital LLC, and Nobel Prize-winning economist Joseph Stiglitz, talk about the U.S. economy and income inequality.\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/U4T2aqZyM9w\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9916,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/05\/27\/3-reasons-to-be-suspicious-of-the-inequality-debate\/","url_meta":{"origin":8007,"position":3},"title":"3 Reasons to be suspicious of the inequality debate","author":"ColinTwiggs","date":"May 27, 2014","format":false,"excerpt":"My concerns with the inequality debate are twofold: The poor are seldom rescued from poverty by redistribution. Raising taxes on the rich to bolster welfare payments increases dependence of the latter on government. While this may be a sound political strategy to garner votes, dependence on handouts robs people of\u2026","rel":"","context":"In &quot;Taxes &amp; Inequality&quot;","block_context":{"text":"Taxes &amp; Inequality","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/taxes-inequality\/"},"img":{"alt_text":"Marginal welfare loss from a small increase in selected Australian taxes","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/henry-tax-welfare-losses.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/henry-tax-welfare-losses.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/henry-tax-welfare-losses.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":9914,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/05\/26\/policy-not-capitalism-is-to-blame-for-the-income-divide-ft\/","url_meta":{"origin":8007,"position":4},"title":"Policy, not capitalism, is to blame for the income divide | FT","author":"ColinTwiggs","date":"May 26, 2014","format":false,"excerpt":"James Galbraith describes the research on inequality over the last two decades at the University of Texas Inequality Project: Since 2000, inequality has declined in the post-neoliberal countries of South America, and we believe it has been falling since 2008 in China. There, ever more comprehensive urbanisation plays a major\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9429,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/03\/09\/income-inequality-ask-the-wrong-question-and-you-will-get-the-wrong-answer\/","url_meta":{"origin":8007,"position":5},"title":"Income inequality: Ask the wrong question, get the wrong answer","author":"ColinTwiggs","date":"March 9, 2014","format":false,"excerpt":"John Mauldin writes That income inequality stifles growth is not simply the idea of two economists in St. Louis. It is a widely held view that pervades almost the entire academic economics establishment. Nobel prize-winning economist Joseph Stiglitz has been pushing such an idea for some time (along with Paul\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/8007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=8007"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/8007\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=8007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=8007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=8007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}