Progressives decry inequality as the world’s most pressing economic problem. But why is inequality an economic issue? This article talks about inequality and if its really a bad thing or if its somewhat a good thing. Think about a class of 10 students say all the students have the same opportunity to get an A. lets say 5 do the bare minimum and get a C, 4 give an average amount of effort and get B's. one student goes above and beyond and gets an A+. So is it really the student who got an A's problem to make sure everyone else gets a good grade no? Is it the teachers fault that some of the students didn't give any effort to the class? no?
So what I'm trying to say is that everyone starts off equal its just that some people put forth more effort. The article talked about People who can use or program computers, do math or run organizations have enjoyed relative wage increases, so why don't people get these skills to get higher wages? A big reason: awful public schools dominated by teachers unions, which leave kids unprepared even to enter college. Limits on high-skill immigration also raise the skill premium.
http://online.wsj.com/articles/john-h-cochrane-what-the-inequality-warriors-really-want-1416442460
Monday, November 24, 2014
Does Income inequality impair the American dream? In this article Elise Gould, Nick Hanauer, Edward Conrad, Scott Winship debate this question. Some economists argue that income inequality leads to unequal access to opportunity and resources like nutrition and education. But others say that income inequality is not inherently a bad thing.
They point to research that finds that countries with greater inequality also experience more economic growth. I think that income inequality is hard not to have in a country like America with so much economic freedom its hard not to have it. Some people just take more advantage off the economic freedom in America.
http://www.npr.org/2014/10/29/359363643/debate-does-income-inequality-impair-the-american-dream
They point to research that finds that countries with greater inequality also experience more economic growth. I think that income inequality is hard not to have in a country like America with so much economic freedom its hard not to have it. Some people just take more advantage off the economic freedom in America.
http://www.npr.org/2014/10/29/359363643/debate-does-income-inequality-impair-the-american-dream
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