The Economics of Inequality

The Economics of Inequality

In my four-part series on inequality (here, here, here, and here), I argue that that it is more important to instead focus on reducing poverty – especially since we know the policies needed to achieve that latter goal. In this discussion, I contemplate...
Equality, Efficiency, and Trade

Equality, Efficiency, and Trade

When I was first learning about economics in the 1970s and 1980s, Arthur Okun’s equality-efficiency tradeoff was part of just about any discussion of public policy. Folks on the left acknowledged that their policies would lead to less prosperity, but they...

Moral Inequality and Immoral Inequality

While debunking OECD and IMF research on inequality, I explained that it’s important to distinguish between income that is earned honestly and loot that is obtained thanks to government cronyism. That’s also the message of this video from the...