Jamie Galbraith

Yves Smith:

Galbraith has marshaled a great deal of cross country data over time, and shows how changes in equality happened in a very large number of economies in parallel. He explains, persuasively, that the most plausible culprit is changes in the financial regime.

Given the considerable evidence that inequality is costly even to the wealthy, Galbraith’s analysis provides another reason for reining in the major dealer banks.