{"id":4417,"date":"2012-05-31T06:00:58","date_gmt":"2012-05-31T10:00:58","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=4417"},"modified":"2012-05-31T06:07:12","modified_gmt":"2012-05-31T10:07:12","slug":"is-income-inequality-a-good-thing","status":"publish","type":"post","link":"https:\/\/www.Centives.net\/S\/2012\/is-income-inequality-a-good-thing\/","title":{"rendered":"Is Income Inequality A Good Thing?"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2012\/05\/052812_0202_IsIncomeIne1.jpg\" alt=\"\" width=\"639\" height=\"510\" \/><\/p>\n<p>In his forthcoming book: <a href=\"http:\/\/www.amazon.com\/gp\/product\/1591845505\/ref=as_li_ss_tl?ie=UTF8&amp;tag=centives-20&amp;linkCode=as2&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1591845505\">Unintended Consequences: Why Everything You&#8217;ve Been Told About the Economy Is Wrong<\/a> Edward Conard makes the provocative argument that income inequality is actually a good thing. It&#8217;s a book that will likely spark a fair amount of debate as the election season draws near. Adam Davidson had the opportunity to sit with him and discuss his argument. Highlights include:<\/p>\n<ul>\n<li>Income inequality is a sign of a healthy, functioning economy.<\/li>\n<li>The super-rich spend only a small proportion of their income on personal comforts. The majority of their money goes into investments.<\/li>\n<li>Estimates suggest that for every dollar invested, society gains $5, although Conad believes that the ratio is closer to $20:$1.<\/li>\n<li>Computers, for example, have made their inventors and innovators extremely rich. But they have also greatly benefitted society. Similar stories can be told about a wide range of industries including agriculture.<\/li>\n<li>Therefore income inequality actually benefits the middle class. If there was even greater income inequality then even more people would be investing and society would come out on top as a whole.<\/li>\n<\/ul>\n<p>To read a comprehensive criticism of the argument, why this might become the most hated book of the year, what Conrad thinks about Art History majors, why he doesn&#8217;t like lawyers, Conrad&#8217;s mathematics inspired dating advice, why he thinks that Warren Buffet is stealing from the middle class, and what this all means for the 2012 elections, click here.<\/p>\n<p>Source: <a href=\"http:\/\/www.nytimes.com\/2012\/05\/06\/magazine\/romneys-former-bain-partner-makes-a-case-for-inequality.html?pagewanted=all\">New York Times<\/a><\/p>\n<p>Via: <a href=\"http:\/\/marginalrevolution.com\/marginalrevolution\/2012\/05\/assorted-links-445.html\">Marginal Revolution<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In his forthcoming book: Unintended Consequences: Why Everything You&#8217;ve Been Told About the Economy Is Wrong Edward Conard makes the provocative argument that income inequality is actually a good thing. It&#8217;s a book that will likely spark a fair amount of debate as the election season draws near. Adam Davidson had the opportunity to sit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"https:\/\/www.Centives.net\/S\/wp-content\/uploads\/2012\/05\/052812_0202_IsIncomeIne1.jpg","_links":{"self":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/4417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=4417"}],"version-history":[{"count":3,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/4417\/revisions"}],"predecessor-version":[{"id":4491,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/4417\/revisions\/4491"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/4416"}],"wp:attachment":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=4417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=4417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=4417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}