Conventional wisdom says income inequality is rising and harmful to nearly everyone, and the rich are to blame. But as Ed Conard shows, anyone who can produce a product valued by the entire economy will find his or her income growing faster than those who are limited by the number of customers they can serve, such as schoolteachers, plumbers, doctors, and lawyers.
Consider Taylor Swift, the current queen of pop, who made $64 million in 2014. She earns more because her audience is huge, not because she takes anything away from the tens of millions of fans who happily pay for all those concert tickets, iTunes downloads, and souvenir T-shirts. Her ability to generate value can scale with the economy.
The same is true for others who improve the lives of millions, like Facebook founder Mark Zuckerberg and Apple CEO Tim Cook. The growing success of innovators doesn't hurt the rest of the workforce. In fact the opposite is true: Their success increases the demand for our middle- and working-class labor.
Challenging the arguments of liberal economists like Paul Krugman and Joseph Stiglitz, Conard reveals the truth about the income inequality panic. And by drawing on a historical study of the ebbs and flows of our economy, he proposes ways to grow the economy faster, which will benefit everyone on the income spectrum.
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Customer ReviewsMost Helpful
By Amazon Customer on 17-04-17
Something isn't right here.
Although you might be richer than me, you might be smarter than me, and you likely drive a better car than me, I'm not going to just swallow your redistribution is bad diarrhea, not feeling you. Now I'm only part way through this audiobook which perhaps I wouldn't have purchased if I knew how Republican it would be. But as of yet your notion that Germany is worse off than the USA etc. seems to be bullshit because they have universal health care and the only reason we have health care at all in the USA right now is because of Obamacare. Even if Germans earn less etc. if they have universal health coverage they are essentially earning more and so far your book ignores that. Will you mention it? Well you knew Mitt Romney so I'm guessing not. https://freedocumentaries.org/documentary/sicko#watch-film
0 of 17 people found this review helpful