Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number accepted.
Today we focus on U.S. and global employment and wage issues, plus credit and the economy in China plus a deflation warning.
- Everyone likes the idea of equal opportunity. This economist thinks it’s a fantasy. (Dylan Matthews, The Washington Post) Opportunity is not equal so to avoid extreme outcomes of distribution there must be some mechanism beyond an assumption that the "free" market will produce satisfactory income distributions.
- Ten Ways to Get Serious about Rising Inequality (John Cassidy, The New Yorker) This list is a liberal's wet dream but it shouldn't be dismissed without discussion.
- A Law Unto Themselves (Amar Bhide, City Journal, 30 January 2014) Amar Bhide has contributed to Global Economic Intersection. A powerful argument against the existence of control without accountability. Unaccountable control in public life and private has become an ever increasing problem.
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