Monday, April 9, 2012

Inequality and economic instability

Jamie Galbraith's new book  is out. The main thesis in the book is that the inequality of the past three decades, driven fundamentally by financialization, led inexorably to boom and bust instability. A recent interview about his book and the current economic situation can be found here.

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Catching up and falling behind in historical perspective

The figure below, from a recent piece in the Wall Street Journal , shows the catching up of the South. Note that most occurs after the New ...