Remember Piketty?
Remember how inequality increases when "r > g"?
That "g" stands for "growth".
If you think you can stop growth AND reduce inequality at the same time, you're betting that you can reduce "r" by much MORE than you reduce "g".
Remember how inequality increases when "r > g"?
That "g" stands for "growth".
If you think you can stop growth AND reduce inequality at the same time, you're betting that you can reduce "r" by much MORE than you reduce "g".
That doesn't mean you can't be there reduce inequality and cut growth at the same time (I can name some countries that did it!).
But it means that cutting growth makes the job of reducing inequality that much harder.
But it means that cutting growth makes the job of reducing inequality that much harder.
And if you want to not just cut inequality but actually RAISE living standards for the poor while also cutting growth...good luck!!
