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Did you know: until recently, there used to be broad consensus that inequality is harmful for economic growth? See my piece today in the @BostonReview bostonreview.net/class-inequali…
@BostonReview The modern notion that there’s a tradeoff between income equality and economic growth feels so ingrained today, but it’s a relatively recent idea popularized only in the 1970s.
@BostonReview In the 40s and 50s it was widely accepted—by economists, businesses, unions, Republicans, Democrats—that sustained economic growth *depended on* an egalitarian income distribution. Too much inequality would lead to unemployment and recession.
