Who’s Who of Prominent Economists and Billionaire Investors Say that Runaway Inequality Harms the Economy

Growing Consensus that Inequality Causes Economic Downturns

A who’s-who’s of prominent economists in government and academia have all said that runaway inequality harms economic growth, including:

  • Former U.S. Secretary of Labor and UC Berkeley professor Robert Reich
  • Global economy and development division director at Brookings and former economy minister for Turkey, Kemal Dervi
  • Societe Generale investment strategist and former economist for the Bank of England, Albert Edwards
  • Deputy Division Chief of the Modeling Unit in the Research Department of the IMF, Michael Kumhof
  • Former executive director of the Joint Economic Committee of Congress, senior policy analyst in the White House Office of Policy Development, and deputy assistant secretary for economic policy at the Treasury Department,  Bruce Bartlett

Even the father of free market economics – Adam Smith – didn’t believe that inequality should be a taboo subject.

Numerous investors and entrepreneurs agree that runaway inequality hurts the economy, including:

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  • nahummer

    We’ve got tons of facts showing inequality is getting out of control and a growing stack of evidence that in addition to hurting the economy, it causes a whole range of social problems, from lower income mobility to higher infant mortality. Now we’ve just got to make people realize it’s not just happening as a natural phenomenon, it being engineered – http://theendisalwaysnear.blogspot.com/2013/09/abhorrent-anniversary-gifts.html

    • Tonto

      Of course it’s being engineered. Nothing happens in a vacuum in this world. In fact, it takes a lot of concerted effort to overcome inertia and make anything happen.

      Both printing money and raising the debt ceiling cause inflation. And inflation is the most regressive form of taxation known to man. Money supply has gone right straight up, while the working man hasn’t gotten a raise in more than a decade. So, what’s the end result of that?

      Increasing wealth inequality. And this comes as a necessity to keep all the plebs from buying all that cheap Chinese shit you see for sale at Walmart. So, just calm down people. More serfs makes it much easier for the real human beings (versus the idiot-consumer-masses) to carve themselves out a nice, comfortable, little money-making niche.

      Here’s the key for those just starting out. I’ll only tell you this once. So, listen up, before it’s too late. Financial security is not so much found in how much money you make. Financial security is found in how much money you spend. DO NOT go into debt, and you’ll end up living the life on the high end. Go into debt, and you’ll find you’ve been played perfectly for one of life’s big, fat, stupid suckers with a bull’s eye painting on his forehead.

  • Honest Harry’s Used Cars

    Inequality of educational opportunity is much more to the point of what is causing income inequality.

    Kids today, and for at least the previous twenty years, have been inundated with a wide variety of politically empowered social engineering viewpoints that at being taught as a core curriculum, and have a staggering emotional effect on young people, leaving them unable to concentrate on what is important to learn, like reading?


    Scores this low were equated with literal feeble-mindedness when I was in school sixty years ago. Today these functionally illiterate young Americans are being encouraged to go to college. Why? Some of these numbskulls end up as educators with heads swollen half as big as the Hindenburg.

    Inequality is the result of this social engineering that was once supposed to foster equality and tolerance.

    Instead of fostering equality and tolerance these social engineering educational objectives have reared several generations of Americans who are unable to discriminate between what is the truth, and what was being given to them as something-like-the-truth when they were at school. As a result, their personal achievement skills are handicapped by some queer sense of what is “right” in this world.

    Let me tell you what is right. Get off welfare, you fat-assed, tattooed scumbags! Economically you’re getting left behind with the retard group, because that’s where you belong!

  • Dave672

    Yet none of the above economists who supposedly oppose income equality have proposed the following simple steps to start reducing income equality, create jobs and improve the economy.

  • Ian56

    Yet none of these economists who supposedly oppose income inequality have proposed these simple steps to start reversing income inequality, create jobs and improve the economy.


  • David

    “Who’s Who of Prominent Economists and Billionaire Investors Say that Runaway Inequality Harms the Economy”. This “who’s who” list includes names of several people directly or indirectly responsible for this inequality.