Tag: class

Class dismissed? The economic mystery of our times

Inequality was traditionally the central concern of economists—until it wasn’t. It may be time to re-read the classics.

Exactly what Branco Milanovic did!

Class dismissed (prospectmagazine.co.uk)

Race Inequality, Class Inequality

If we assume that workers and people at the bottom of society can acquire only a fixed amount of society’s income, then all such people are in competition with one another for shares of this fixed amount. And groups that identify with one another in some way—by race in particular—are in competition with other such groups. With a fixed share of the economic “pie,” more for one group means less for the other.

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