Who’s Who of Prominent Economists Say that Too Much Inequality Causes Economic Downturns
A who’s-who’s of prominent economists in government and academia have all said that runaway inequality can cause financial crises:
- Andrew Berg (IMF economist)
- Jonathan Ostry (IMF economist)
- Marriner S. Eccles (Federal Reserve chairman from 1934 to 1948)
Indeed, extreme inequality helped cause the Great Depression, the current financial crisis … and the fall of the Roman Empire.
It’s not just liberal economists who say this … many conservatives say the same thing.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
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