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 income distribution and inequality.
Why We Fight (Philip Giraldi, AntiWar.com) Hat tips to Chuck Spinney and Roger Erickson. Issues of war as they relate to the economy, political economy and politics are showing up more and more frequently from several authors and guest contributors on Global Economic Intersection. This article is an especially good discussion of factors in all three areas.
Click on graph for larger image at Advisor Perspectives dshort.com.
The Inequality Problem (David Brooks, The New York Times) A conservative columnists speaks out. See also next article.
If you have a primitive zero-sum mentality then you assume growing affluence for the rich must somehow be causing the immobility of the poor, but, in reality, the two sets of problems are different, and it does no good to lump them together and call them "inequality."
The thing is, while growing affluence for the rich isn't causing low and moderate incomes to stagnate, they are to a large extent results of the same forces. There is a zero-sum tradeoff between the two, so a zero-sum mentality (primitive or otherwise) is called for.
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