…that capitalism causes inequality between the very rich and the very poor, and that economies with higher degrees of government intervention don’t have that “problem” – right?
Arguing that government policy can too affect income distribution, TNR‘s Tim Noah writes:
“If you omit government redistribution from the calculations in the previous paragraph then four countries that previously were more equal in incomes than the U.S.—Portugal, Italy, Israel, and Germany—become less equal than the U.S.”
Wait. You mean that social-democratic, union-heavy, solidaristic Germany has worse income inequality, before taxes and transfers, than the cowboy capitalistic U.S., with its large underclass and out-of-control Wall Street greedheads? Don’t tell the narrative. …
Everybody just knows it.