Friday, November 18, 2011

'More equal economies grow faster'

Even the very establishment journal Foreign Policy ran a piece conceding that international evidence suggests that more equal economies grow faster.

It notes that equality of opportunity and the famed pursuit of the American dream are not quite what they are advertised to be. According to an analysis by economists Samuel Bowles and Herbert Gintis at the Santa Fe Institute, of children born to the poorest 10 percent of parents in the United States, more than half remain in the bottom fifth of incomes as adults.

In other words, socialism (to employ the most grotesquely misused word in American politics) is good for everyone.

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