{"id":4856,"date":"2010-10-19T09:12:23","date_gmt":"2010-10-19T14:12:23","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=4856"},"modified":"2010-10-19T09:16:02","modified_gmt":"2010-10-19T14:16:02","slug":"income-inequality-too-big-to-ignore","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2010\/10\/19\/income-inequality-too-big-to-ignore\/","title":{"rendered":"Income Inequality: Too Big to Ignore"},"content":{"rendered":"<p><em>The New York Times<\/em> has the article\u00a0 <a title=\"Robert H. Frank article\" href=\"http:\/\/www.nytimes.com\/2010\/10\/17\/business\/17view.html\" target=\"_blank\"><strong>Income Inequality: Too Big to Ignore<\/strong><\/a> by Robert H. Frank, an economics professor at the Johnson Graduate School of Management at Cornell University. Read the article to see how he justifies the following conclusion:<\/p>\n<blockquote><p>In short, the economist\u2019s cost-benefit approach \u2014 itself long an important arrow in the moral philosopher\u2019s quiver \u2014 has much to say about the effects of rising inequality. We need not reach agreement on all philosophical principles of fairness to recognize that it has imposed considerable harm across the income scale without generating significant offsetting benefits.<\/p><\/blockquote>\n<p>I was just thinking about Bill Gates reported $40 billion fortune. If he just sat back and got a 5% return on this fortune, he would earn $2 billion every year.\u00a0 Can you imagine the problem of figuring out how to spend $2 billion on your small family?\u00a0 It&#8217;s a good thing he doesn&#8217;t get it in cash.\u00a0 He&#8217;d need help just cleaning it up to make room for him to fit in his house.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The New York Times has the article\u00a0 Income Inequality: Too Big to Ignore by Robert H. Frank, an economics professor at the Johnson Graduate School of Management at Cornell University. Read the article to see how he justifies the following conclusion: In short, the economist\u2019s cost-benefit approach \u2014 itself long an important arrow in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-4856","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/4856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=4856"}],"version-history":[{"count":3,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/4856\/revisions"}],"predecessor-version":[{"id":4858,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/4856\/revisions\/4858"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=4856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=4856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=4856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}