Stiglitz on the 1% ….

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One of the eye openers for me, as an economics student, was the idea of Pareto improvement: the elegant (if not always realistic) notion of an improvement that leaves at least one person better off, without leaving others worse off. Who'd be against such a deal? The catch is, of course, that Pareto improvements often require some ex-post redistributions. 

Here is a very nice Vanity Fair article by Joseph Stiglitz about (in his own words) "an inequality even the wealthy will come to regret": 

http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105

Also check out this


© J.W.B. Bos 2014