23.1.14

I SEE THE RICH, I SEE THE POOR.

The gap grows in-between.  (Apologies to Peter Schickele.)

University Diaries: not impressed that Western Ontario trustee Kevin O'Leary looks on the bright side of the 85 richest people holding more wealth than the world's 3.5 billion poorest people.

Cafe Hayek: the consumption gap between the richest people and the middle class has narrowed since 1965.

On Monday, I brought along Herbert Croly's Progressive Democracy to read on the train.  Got sidetracked by a discounted copy of Command Authority, the last work from the school of Tom Clancy.

Got far enough into Croly, though, to catch a reference he made to a widening gap between the wealthiest Americans and everybody else.

I suspect the tensions between the "decreased absolute poverty" and "increased relative poverty" arguments will go on until Miami freezes over, or the Big Crunch.

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