John Quiggin on Inequality

Quiggin takes down Tyler Cowen on his nonsenses about social immobility as a non-threatening issue:

To sum up, Cowen’s post is an exercise in defending the indefensible, and its weaknesses reflect that. As Mitt Romney’s tax returns show, wealthy Americans have the rules rigged in their favor from day one. And that’s assuming they obey the rules. Unlike the poor, they can mostly cheat with impunity. In these circumstances, it’s unsurprising that US inequality is so deeply entrenched. The only surprise is the suddenness with which the facts have become common knowledge.

Go read the whole thing.

http://wp.me/pXZbk-H1

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