Increasing Wealth Inequality Is A Warning Sign Of Instability

“James K. Galbraith is a chip off the old block. This University of Texas economist, the son of John Kenneth Galbraith, is continuing the family tradition of sticking the damn truth in front of the world by means of writing this just published volume–Inequality and Instability, A Study of the World Economy Just Before the Great Crisis (Oxford University Press).

Better consult it’s theme that finance has come to dominate the U.S. economy, not manufacturing, not agriculture and that the super wealthy have used finance to make themselves richer and faster than anyone else. Writes Galbraith pointedly: “the difference between the financial sector and other sources of income is– wherever we can isolate it– a large (and even prime) source of changing inequalities.”

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