Inequality

Here's an interesting observation on inequality from Amity Shlaes from today's Financial Times

All of which brings us to the larger question: is unequal income distribution always bad? The answer is no. Historically, uneven income distributions tend to correlate with strong growth. In societies with the rule of law, that wealth tends to turn into opportunity. Societies in which incomes are fairly even grow more slowly. They are also frequently broke (like parts of continental Europe).