Discussion: Inequality

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Discussion: Inequality
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There is a debate about increasing inequality in the United States, other rich countries and also developing countries over the last 45 years or so. One person who have made a significant contribution to that debate is Thomas Piketty of France, in his recent book “Capital in the 21st Century”.

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is a discussion of Piketty’s book. Here is another article on rising income inequality , even accounting for incr https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality easing transfers (such as government-supplied Social Security and Medicare payments).

This data is agreed by most economists to be robust, but there is a wide range of responses about what to do about inequality, if anything, ranging from Piketty’s proposal for a global redistribution of wealth via a wealth tax and cash transfers to the poor, to encouraging the creation of more small businesses, to simply allowing the free enterprise system to continue to function, with perhaps some steps to reduce concentration of industries.

Discuss inequality and what if anything you consider would be an appropriate approach to mitigate it. Include data from an outside academic-level reference to support your reasoning.


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