Wiseacre
Retired USAF Chief
Sorry, don't have much time right now to get into your post or give it the thoughtful response it deserves. Let me say this however - I think you will find that the amount of inequality of incomes is greatest when the economy is booming, and it is the least when it's in recession or slowing down. When the stock market crashes, it is the rich guys that take the biggest hits.
So, the assertion that income inequality holds down economic growth is actually backwards - slow or non-existent economc growth holds down the inequality, to the detriment of all. Frankly, in a free market open economy it might be nearly impossible to have good economic growth without the corresponding inequalities of income.
So, the assertion that income inequality holds down economic growth is actually backwards - slow or non-existent economc growth holds down the inequality, to the detriment of all. Frankly, in a free market open economy it might be nearly impossible to have good economic growth without the corresponding inequalities of income.