The Inequality That Matters – Tyler Cowen – The American Interest Magazine.

An interesting (and long) article on “income inequality” that manages to be fairly objective.  Towards the end it gets a little much into the whole “those evil bankers ruined it all” line of reasoning while somehow completely dismissing without any real analysis the concept of “How about we just don’t bail them out then?”

But the best stuff is right there in the beginning.  It’s an undeniable fact that income inequality has grown.  It is also an undeniable fact that standard of living (for the rich and poor alike) has also grown.  If you have to choose between one or the other, which is preferable?

The article fails to really ask the question of “What exactly caused the standard of living to increase?” because the answer is obviously capitalism (which is made possible in large part by the evil greedy bankers).  Just something to consider…