Wealth Redistribution Is Necessary
It's about more than fairness, in fact, fairness is of secondary importance. Redistribution is an economic imperative directly tied to nation growth as represented by gross domestic product (GDP). GDP defined: (consumer spending, investment spending, government spending) The Economist published this observation in its 12/13/14 edition:
The OECD* assessed the effects of on economic growth, finding that it has a statistically significant negative impact. It reckoned, for example, that income inequality knocked ten percentage points off cumulative GDP growth in Mexico between 1990 and 2010, nine points off Britain’s growth and up to seven points off America’s. Redistributive polices do not hinder growth, it argued, as long as they are targeted effectively, specifically at education.
*Organisation for Economic Co-operation and Development is an international economic organization of 34 countries founded in 1961 to stimulate economic progress and world trade.
Posted by Paul Hunter