On Income Inequality and Economic Growth

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Random comments from Lane Crothers, a professor of politics and government, on the events of the day.

I teach in the Politics and Government Department at Illinois State University, in Normal, IL, And yes: it's pretty normal here. Thanks for asking.

If you're desperate to know more about me, my webpage is: lanecrothers.weebly.com. You can follow me in the twitterverse at LaneCrothersISU. Ask me anything

October 17, 2011

So it turns out that those well-known socialists, radicals and financial unsophisticates at the International Monetary Fund have found that those nations with higher levels of income inequality have lower levels of economic growth than do those that have lower levels of income inequality.

Please read the linked article for yourself.

Two quick thoughts:

—It turns out that concentrating the wealth in a given society among a small spectrum of people does not promote economic creativity, job growth, and associated activities, despite conservative claims that such people are “job creators.”

—It turns out that the biggest advocates of restraining wealth concentration at the top should be CAPITALISTS! The only chance CAPITALISTS have to succeed is if they have access to capital, which they don’t get in wealth-concentrated societies …

So I look forward to seeing signs that say “Capitalists for the Revolution” soon!

9:20am | URL: http://tmblr.co/ZPUuPyAnhFeb

(Notes: 93)