His guide has five principles which I will list here - these are his exact words, each followed by additional text:
First, economic inequality has worsened significantly in the United States and some other countries.
Second, inequality in America is destabilizing.
Third, disparities reflect not just the invisible hand of the market but also manipulation of markets.
Fourth, inequality doesn’t necessarily even benefit the rich as much as we think.
Fifth, progressives probably talk too much about “inequality” and not enough about “opportunity.”
A
Unfortunately, equal opportunity is now a mirage. Indeed, researchers find that there is less economic mobility in America, than in class-conscious Europe.By now I hope I have at least aroused some interest on your part in reading the entire column.
Unfortunately, equal opportunity is now a mirage. Indeed, researchers find that there is less economic mobility in America, than in class-conscious Europe.By now I hope I have at least aroused some interest on your part in reading the entire column.
Let me offer a bit more from the column and a few thoughts of my own below the squiggle.
Inequality causes problems by creating fissures in societies, leaving those at the bottom feeling marginalized or disenfranchised. That has been a classic problem in “banana republic” countries in Latin America, and the United States now has a Gini coefficient (a standard measure of inequality) approaching some traditionally poor and dysfunctional Latin countries.The widipedia entry on Gini coefficients will you explain fairly clearly what this measure is.
If you want to explore inequality more thoroughly among the nation's of the world, this Wiki Nick Kristof offers An Idiot’s Guide to Inequality:
