Wednesday, August 17, 2011

A banana republic . . . if you can afford it

We're high for a poor country, in terms of inequality, and we're a rich country. We're about the same level of inequality as China. And, of course, China, half the population are rural peasants who are not part of the modern world.

And if we were to compare us with African countries, dictators in different places, you know, taking a lot of the wealth from normal people, we would be among the top half of the African countries of inequality. So, the U.S. really has reached an extraordinary level of income inequality.

-- Richard Freeman,
Harvard economist

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