In this book you develop an elaborate set of arguments about how the high levels of economic inequality we’re seeing hurt our economy, our institutions, and our politics. Let’s start with the economy. A lot of people argue that there’s a tradeoff between growth and inequality -- that you can have faster growth but you might have to take more inequality along with it.
It’s well documented that countries that are more unequal don’t do as well, don’t grow as well and they are less stable. It’s not an accident that in the period right before the Great Depression, our inequality reached another peak just like it did in the years before the Great Recession. Inequality destroys growth.
Not to mention opportunity.
That’s right. America has become the country with the least equality of opportunity of any of the advanced industrial countries. That means children that are born of poor parents or poorly educated parents are not living up to their opportunities. We’re wasting our most valuable asset – our human resources.