Why Hasn?t Democracy Slowed Rising Inequality? Journal of Economic Perspectives 2013

[LAM]

Journal of Economic Perspectives - Volume 27, Number 3 Summer 2013 : Pages 103-124

Why Hasn't Democracy Slowed Rising Inequality?

Adam Bonica, Nolan McCarty, Keith T. Poole, and
Howard Rosenthal

Why Hasn't Democracy Slowed Rising Inequality?

 

[Big Smoothy]

I think the question should be:

Why would anyone think Democracy would encourage so-called "economic equality."

A large income gap exists and is widening.

As for the notion of "economic equality" I think it can only work in a nation of Sweden, if Sweden only has ethnic Swedes.

I've never believed in economic equality in general but I do believe in the equality of opportunity.

 

[bio-chem]

Political systems and economic systems are completely different. even middle school kids know this. I'm with Big Smoothy. Equality of opportunity at it's basic level. No way to ensure, and I don't think one would even want to ensure economic equality. If economic equality is ensured all that's ensured is everyone is broke. Advancement is available for those who go out and get it. That's enough.

 

[LAM]

I think the question should be:

I've never believed in economic equality in general but I do believe in the equality of opportunity.

and that is the problem in the US right now, social mobility has stagnated. so basically the vast majority of the population will never leave the income bracket they were born into. the people making $70K now are only earning $35K in 1990's dollars so in say 20-30 years when their children are possibly earning $70K (if they don't fall into the underclass) that will have the same purchasing power as $17.5K.

people focus too much on the numbers when it comes to income and not purchasing power