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shared by Alejandro Enamorado on 03 Jun 11 - No Cached

income inequality is not a useful measure. Measures of inequality tell us nothing about the living conditions of the poor, their health and their access to economic opportunity.
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one should think primarily about lifting developing countries out of poverty rather than about reducing income disparities in wealthy countries.
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Focusing on income inequality rather than drivers of poverty, obstacles to economic opportunity and systematic injustice obscures what really works and what does not in the realm of economic policy
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Putting in place restrictions on executive bonuses, taxing financial transactions and corporate profits does little to mitigate the flawed incentives that have led to exuberant financial booms. A genuine solution would consist of eliminating bailout guarantees to the banking sector, thus reducing the existing incentives for gambling with other people’s money.
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the rise of cheap imports from countries such as China and new forms of large-scale retailing, epitomized by Wal-Mart and Sears, which have given the low-income groups access to goods that previously were enjoyed only by the rich. In terms of the actual material conditions of living, developed countries appear to be more equal than ever before.
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growth of executive remuneration in the financial industry cannot be dissociated from a cozy relationship that has long existed between policymakers and bankers
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