[Marxism] Mainstream economics finally recognizes that unequal power produces unequal income and wealth
shalva.eliava at outlook.com
Mon Jan 25 14:14:52 MST 2016
This article isn't really all that interesting for radicals, but it did have one line that I liked, since it highlights the affinities between the latter-day falling profit rate fundamentalists and the neoclassicists:
"On the inequality conundrum, conservative economists divide four ways. Some are denialists. Rising inequality is simply a mirage if you make the right adjustments to the data. Scott Winship of the Manhattan Institute operates a small cottage industry purporting to demonstrate that if you correct for a variety of factors ranging from household size to counting health insurance as income, the statistical rise in inequality mostly vanishes."
- this is exactly the argument that Kliman and his disciples (e.g. Michael Roberts) make...just so they can rule out "underconsumption" as a factor of crisis.
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