Ross Douthat points me to an excellent piece by Tyler Cowen in The American Interest. Tyler’s piece is roughly two parts: the first a dissection of the alleged inequality that is growing in America (hint: it’s mostly due to natural demographic factors and harder working people getting justly rewarded), and the second a discussion of the financial sector, for which inequality serves as the jumping off point. The second part is not so interesting (it seems to me a fairly run of the mill conservative critique of the incentives that exist in our financial system), but the first is an under-appreciated analysis of the causes of inequality.
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