The Dangers of America’s Obsession with Inequality
“It is inarguably true that modern free-market capitalism leads to inequality. It is equally true that it makes all of us richer. By most measures, most Americans were poor at the start of the last century. Indeed, if we use a definition corresponding to today’s poverty measures, 60–80 percent of the U.S. population was poor in 1900. Today just 23 percent of Americans are poor, and even they enjoy a standard of living that would be envied by the rich of a century ago.”