16 October 2007

Economic Mal-Distribution in the United States (2)

It has been a while since I posted on matters of economic inequality. But when even The Wall Street Journal notices the persistent increase in income inequality in the U.S., it seems like I should call your attention to the matter once again.

The rich are getting richer. This pattern seems to reflect income gained by finance types. In other words the rewards of speculation are exacerbating societal patterns. As I have noted here before the funds passing through Wall Street have little to do with increasing the amount of capital available for productive purposes. They are just speculation, legalized but often unregulated gambling.

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