Summers on Inequality

http://www.futureofcapitalism.com/2011/11/summers-on-inequality

There's plenty to agree with or disagree with in Lawrence Summers' Financial Times column on income inequality, but this passage bears repeating: "On one side it is framed in zero-sum terms and the disappointing lack of income growth for middle-class workers is blamed on the success of the wealthy. Those with this view should ask themselves whether it would be better if the US had more entrepreneurs like those who founded Apple, Google, Microsoft and Facebook, or fewer. Each contributed significantly to rising inequality .... Where great fortunes are earned by providing great products or services that benefit large numbers of people, they should not be denigrated."

by Editor  |  Nov 20, 2011 at 9:44 pm Related Topics:  Google, Income Inequality, Lawrence Summers receive the latest by email: subscribe to the free futureofcapitalism.com mailing list