November 2nd, 2010

bswing

Poor Aren't Poor Because Rich Are Rich

Judged only by economic inequality, the financial crisis is a godsend. It will probably narrow the gap — though still vast — between the rich and everybody else. But what good will that do? Economic inequality also declined in the Great Depression. The country wasn't better off.

By and large, the poor aren't poor because the rich are rich. They're usually poor for their own reasons: family breakdown, low skills, destructive personal habits and plain bad luck.

http://www.realclearmarkets.com/articles/2008/11/poor_arent_poor_because_rich...

Posted via email from crasch's posterous