Tag: consumption
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Varieties of Inequality
I can think of at least six kinds of inequality: Inequality of income: different people receive different wages, either for different jobs or for the same job, as profits from capital investments, or as government subsidies, transfer payments, or private charity. Inequality of consumption: different people consume different products (i.e. the generic widget) in differing…
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Season of Political Irrelevance Update
The Obama administration brews its own beer Weigel takes a stab at serious policy Weigel has predicated a lot on the conditional statement: “If you look at it right, then you’ll see serious policy.” But we don’t have any evidence for the antecedent, that the public or the media *will* “look at it right.” More to…