Some Economic Inequality Is Good
The main issues related to judging inequality and its changes over time come down to deciding whether the inequality is of the good or bad kind, says Nobel Laureate Gary Becker.
Many people, especially academics and other intellectuals, find the phrase "good inequality" jarring because they can hardly think of any aspect of inequality as being "good". Yet a little thought makes clear that some types of economic inequality have great social value. For example, it would be hard to motivate the vast majority of individuals to exert much effort, including creative effort, if everyone had the same earnings, status, prestige, and other types of rewards. For example, many fewer individuals would engage in the hard work involved in finishing high school and going on to college if they did not expect their additional education to bring higher incomes, better health, more prestige, and better opportunities to marry.
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The history of the Geneva Conventions tells us how the international community draws the line on brutality.
- Henry Dunant's work led to the Red Cross and conventions on treating prisoners humanely.
- Four Geneva Conventions defined the rules for prisoners of war, torture, naval and medical personnel and more.
- Amendments to the agreements reflect the modern world but have not been ratified by all countries.
Meanwhile, Spaniards are the least likely to say their culture is superior to others.
- Survey by Pew Research Center shows great variation in chauvinism across Europe.
- Eight most chauvinist countries are in the east, and include Russia.
- British much more likely than French (and slightly more likely than Germans) to say their culture is "superior" to others.
The Green New Deal is an ambitious attempt to fight climate change, but is it destined to hit the political skids?
- Recent protests by the Sunrise Movement have taken the Green New Deal from forgotten policy to trending hashtag.
- The Green New Deal aims to move the U.S. to 100% renewable energy within a decade.
- Proponents also hope to catalyze a top-down restructuring of the U.S. economy and advance social justice issues.
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