Don Boudreaux expands on a wonderful WSJ essay from yesterday. Basically it's true that the rich are getting richer. But so are the poor. As JFK was fond of saying, "A rising tide lifts all ships". Now it may be true that there is an increasing gap between rich and poor, but the rich aren't getting rich at the expense of the poor. It's not a zero sum game, everybody's winning, everybody's standard of living is growing.
The book Cowboy Capitalism, which I reviewed here, also broached this subject. It almost looks like Stephen Moore and Lincoln Anderson lifted their data from the book. I'm sure they didn't because we've gotten the same data for many years.
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