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Nobel economist Angus Deaton: we're asking wrong questions about inequality
- stuaxo 9y agoObligatory note that the Nobel-Economics prize is nothing to do with Alfred Nobel, and was setup entirely separately by The Swedish Central Bank. https://oliverhartwich.com/2013/10/25/abolish-the-nobel-prize-for-economics/ https://oliverhartwich.com/2013/10/25/abolish-the-nobel-priz...
- sandstrom 9y agoThis is an often cited fact (entirely correct). But I’m surprised that people seem to get upset by it. A prize is just a prize. It’s fairly clearly stated on the website and Wikipedia. Everyone who gets it knows that it wasn’t setup by Mr. Nobel, but it’s still well renowned and thus desired among academics.
- hkmurakami 9y agoStill the same committee. Most Olympic sports aren't "original" either.
- fian 9y agoSo his point perhaps is the inequality to focus on is the disproportionate political leverage enjoyed by large corporations and the wealthy. Seems a bit of a chicken and egg situation though. Those with more money can buy legislation that enables them to maintain or enhance their ability to extract wealth which begets the next cycle. Breaking the political leverage is something the non-wealthy majority can do through voting for a party that will reign in political donations.