Bad Government and Central Bank Policy Are the Main Cause of Runaway Inequality
Thomas Piketty: “Rock Star Economist” Pushes Inequality to the Forefront of Economic Discussion French economist Thomas Piketty’s book on inequality – Capital in the Twenty-First Century – has gonecompletely viral. Mainstream economists like Paul Krugman and Joseph Stiglitz endorse it. …
Runaway inequality cripples the economy. Pikettey notes that inequality is now the worst in world history … and will only get worse.
Asset Prices Rise Faster than Wages: Working stiffs can’t keep up with those who make their money from investing in (and seeking rent from) land, stocks, bonds and other assets.
But Piketty underplays the fact that bad government and central bank policy have greatly widened the gap. After all, the entire strategy was to artificially prop up asset prices – including the stock market, paid for out of public purse.
Original Article: http://www.globalresearch.ca/bad-government-and-central-bank-policy-are-the-main-cause-of-runaway-inequality/5379433?utm_source=rss&utm_medium=rss&utm_campaign=bad-government-and-central-bank-policy-are-the-main-cause-of-runaway-inequality