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TomPaine.com - Alan Greenspan, Egalitarian? |
 | | Greenspan had, in effect, stumbled upon the core essence of egalitarian economic analysis: If everyone shares the same basic innate talent, then any society that ends up with huge gaps of income and wealth between equally hard-working people has somewhere along the line missed the boat—and needs fundamental rethinking. |
 | | Greenspan would go on to challenge, as the 1990s boom roared on, the smug assumption that Main Street had finally meshed with Wall Street, that 401(k)s had turned average Americans into one vast and glorious investor class, that higher share prices meant prosperity and good times for all. |
 | | Greenspan's worries reflect instead a longstanding strain of thought within economic orthodoxy, the fear that average people, if they come to feel that the wealthy have grabbed appreciably more than their fair share, will demand policy changes—on taxes, on trade, on business regulation—that threaten the pillars of economic orthodoxy. |
| www.tompaine.com /articles/2005/11/07/alan_greenspan_egalitarian.php (0 words) |
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