The Left's Big Fumble on Inequality

In choosing “inequality’ as its red meat issue (sorry Vegans!), the American Left has gotten itself into what the Marxists like to call an “internal contradiction.” Tom Maguire outlines the big problem: Tyler Cowen takes to the Times to state, well, the obvious: Income Inequality Is Not Rising Globally. It's Falling. Income inequality has surged as a political and economic issue, but the numbers don’t show that inequality is rising from a global perspective. Yes, the problem has become more acute within most individual nations, yetincome inequality for the world as a whole has been falling for most of the last 20 years. It’s a fact that hasn’t been noted often enough. The finding comes from a recent investigation by Christoph Lakner, a consultant at the World Bank, and Branko Milanovic, senior scholar at the Luxembourg Income Study Center. And while such a framing may sound startling at first, it should be...(Read Full Post)