{"id":9429,"date":"2014-03-09T20:53:04","date_gmt":"2014-03-10T00:53:04","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=9429"},"modified":"2014-03-09T20:53:04","modified_gmt":"2014-03-10T00:53:04","slug":"income-inequality-ask-the-wrong-question-and-you-will-get-the-wrong-answer","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2014\/03\/09\/income-inequality-ask-the-wrong-question-and-you-will-get-the-wrong-answer\/","title":{"rendered":"Income inequality: Ask the wrong question, get the wrong answer"},"content":{"rendered":"

John Mauldin writes<\/p>\n

\n

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 Krugman, et al.); and a recent IMF paper suggests that slow growth is a direct result of income inequality, simply dismissing any so-called \u201cright-wing\u201d ideas that call into question the authors\u2019 logic or methodology.<\/p>\n<\/blockquote>\n

The suggestion that income inequality stifles growth is a fraud, designed to promote a socialist agenda of redistributing wealth to the poor. We are currently experiencing slow growth because of the GFC, not because of rising income inequality. <\/p>\n

The real question that needs to be answered is: which system best promotes growth and improves the living standards of the broad population? Evidence of the last 100 years is difficult to dispute. Socialism has an abysmal track record in uplifting the poor, while capitalism has fueled a massive upliftment in living standards over more than a century. High rates of tax on top income earners kills growth and redistribution to the impoverished does little to improve their living standards, whereas low tax rates encourage growth and raise living standards. <\/p>\n

To recover from the GFC we need to allow capitalism to flourish instead of impeding it at every turn.<\/p>\n

Read more at The Problem with Keynesianism | John Mauldin<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 Krugman, et al.); and a … <\/p>\n

Continue reading “Income inequality: Ask the wrong question, get the wrong answer”<\/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":[5],"tags":[592,1798,2794,3169],"class_list":["post-9429","post","type-post","status-publish","format-standard","hentry","category-economy","tag-capitalism","tag-income-inequality","tag-progressive-tax-rates","tag-socialism"],"yoast_head":"\nIncome inequality: Ask the wrong question, get the wrong answer - 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=\"Income inequality: Ask the wrong question, get the wrong answer - the patient investor\" \/>\n<meta property=\"og:description\" content=\"John Mauldin writes That income inequality stifles growth is not simply the idea of two economists in St. Louis. 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The Impact of Rising Inequality on the American Economy\u201d makes interesting reading. \"Only 76% of\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Credit and Disposable Income","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-22-credit-income.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-22-credit-income.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-22-credit-income.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":5693,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/07\/income-inequality-cause-of-our-predicament-or-a-convenient-scapegoat\/","url_meta":{"origin":9429,"position":2},"title":"Income inequality: Cause of our predicament or a convenient scapegoat?","author":"Colin Twiggs","date":"October 7, 2012","format":false,"excerpt":"A reader reminded me of this 2011 Vanity Fair article, where Joseph Stiglitz argues that growing income inequality will harm future US economic growth. \"What matters, [some people] argue, is not how the pie is divided but the size of the pie. That argument is fundamentally wrong........ First, growing inequality\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"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":9429,"position":3},"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 "Economy"","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":9818,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/05\/19\/the-inequality-puzzle-lawrence-h-summers\/","url_meta":{"origin":9429,"position":4},"title":"The Inequality Puzzle | Lawrence H. Summers","author":"ColinTwiggs","date":"May 19, 2014","format":false,"excerpt":"Larry Summers exposes the flaw in Thomas Piketty\u2019s Capital in the Twenty-First Century. Piketty argues that inequality is rising because the rate of return on capital is higher than the economy's growth rate. Does not the rising share of profits in national income in most industrial countries over the last\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"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":13720,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/05\/19\/the-inequality-puzzle-lawrence-h-summers-2\/","url_meta":{"origin":9429,"position":5},"title":"The Inequality Puzzle | Lawrence H. Summers","author":"ColinTwiggs","date":"May 19, 2014","format":false,"excerpt":"Larry Summers exposes the flaw in Thomas Piketty\u2019s Capital in the Twenty-First Century. Piketty argues that inequality is rising because the rate of return on capital is higher than the economy's growth rate. Does not the rising share of profits in national income in most industrial countries over the last\u2026","rel":"","context":"In "Market Insights"","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"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":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9429","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=9429"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9429\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=9429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=9429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=9429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}