mine, all mine

Excellent analysis from the Big Red E on the growth of income inequality. The question: is it a problem? The answer: yes, but also, consider the details. I particularly like the point about mortgage interest rate reduction being, in effect, a subsidy to the well-off. The model solution: Teddy Rooseveltian mitigation through liberation. Nice point that it is precisely closed corporate shops, intimately interrelated with anti-entrepreneurial governments,  that have produced the world’s greasiest oligarchs, from Mexico to China to Russia.

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