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The author argues that, with proper adjustments, the conventional view about the rise in inequality has been exaggerated. Indeed, in recent periods, most of the inequality can be attributed to gains by a small proportion of very high-income individuals. He proposes a variety of aggressive...
The author argues that inequality, combined with only modest growth, can have grave moral consequences. History suggests that, in the past, a rising standard of living has promoted tolerance for others, commitment to economic opportunity, and democracy. But stagnating incomes due to inequality...
Did Iceland fly too close to the sun? We have rarely had a case when a nation so avidly adopted an economic model that was bound to fail. Iceland became the poster child for this economic crisis. Robert Wade documents it graphically.
The current global recession, along with the credit crisis, requires that the prevailing economic model be seriously debated and, these economists contend, reformed. The authors criticize the mainstream New Consensus approach in macroeconomics for its reliance on stabilization by means of...
It is broad conventional wisdom that a financial collapse in the early 1930s was the principal cause of the Great Depression. And those lessons are being applied in solving today's economic crisis. This historian argues that the causes were more fundamental and can be found in the poor wage...
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