Sunday, April 02, 2006

Inequality Realities Despite "Growth"

The WaPo has an "occasional" series on inequality in America. Today they drop in "The Case for Economic Growth: It may not lift all boats as it used to, but it's still essential." that first of all made me wonder if "used to" was too global. Generally perhaps growth did provide a "rising tide" yet one could argue, absent some boost and flotation to a few segments of society, unregulated capitalism on steroids will at times result in "creative destruction" of people in addition to the inorganic as the less productive falls away. "Social darwinist" and even the rare sane libertarians at times ignore or at least tolerate this reality. The WaPo piece ends,
In sum, the case for economic growth remains convincing, but policymakers need to balance its pursuit with a concern for equity. Mr. Friedman's argument -- that growth can cause a society to feel more optimistic -- depends on the sharing of its benefits. Equally, our sense that higher incomes expand the range of human experience, even if they don't expand the sum of happiness, carries weight only if the boost to incomes is broadly shared. The policy challenge, therefore, is to promote growth while also promoting equity. That is where this series will go next.
I'm looking forward to the balance of this series. In case you missed the first piece it is here and the second is here. This second editorial cites Bu$hCo's Treasury Secretary John Snow as recognizing the issue of inequality. Perhaps that is why talk is that he's about to be shown the door! Bu$hCo and many in DC, especially many ReThuglicans, are taking care of the Big Mules. Corporate profits are their concern. Peace ... or War!

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