The right’s inequality canard: They botch history AND economics

[DonViejo]

With President Obama talking about the scourge of low wages, conservatives are completely confused by the problem

SEAN MCELWEE

President Obama has recently attracted attention by acknowledging the problem of inequality and calling for a more aggressive, populist approach. But as he pivots toward income inequality and upward mobility, it’s an important time to demolish one of the most pervasive myths in our society, that there can be a distinction made between equality of opportunity, and equality of outcome. The line goes something like this:

Equality of opportunity provides in a sense that all start the race of life at the same time. Equality of outcome attempts to ensure that everyone finishes at the same time. To slightly change what the Dodo said in Alice in Wonderland, “Everybody must win and all must have prizes.” [Italics in original]

In truth, outcome determines the next generation’s opportunity. Hence, Obama is right to point out that inequality harms the American Dream. Life isn’t a sprint, it’s a relay race. And where one generation finishes, the next begins.

Great Gatsby Curve

Miles Corak is a Canadian economist most famous for producing a chart showing that income inequality and upward mobility are correlated across nations. When Alan Krueger, then president of the Council of Economic Advisers, dubbed it “The Great Gatsby Curve,” economic wonks took notice.

complete article
http://www.salon.com/2013/12/14/the_right%E2%80%99s_inequality_canard_they_botch_history_and_economics/

[damonm]

1. The right botches EVERYTHING. n/t