Prominent Economists Say 'Inequality' Wrecks the Economy...

[TM7]

Common sense says his is true. When workers see their own lives improving through work, they will work harder and more productively. When they see runaway inequality they are deincentivized...just common sense. But when workers work hard and over decades, see the wealth created by their work siphoned off by the Wall Street Money Junkies and unfair Taxe shifts, workers lose their enthusiasm for hard work and long hours. History is full of nations that collapsed when the greed of the bankers and corporatocracy disincentivize the working class,,,then economic failure is ensured...................FYI.... TM7
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http://www.washingtonsblog.com/2013/02/whos-who-of-prominent-economists-say-that-too-much-inequality-causes-economic-downturns.html
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Who’s Who of Prominent Economists Say that Too Much Inequality Causes Economic Downturns .
 
Posted on February 23, 2013 by WashingtonsBlog   
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Inequality Is Bad For the Economy A who’s-who’s of prominent economists in government and  by Text-Enhance" href="http://www.washingtonsblog.com/2011/07/the-economy-cannot-recover-as-long-as-inequality-continues-to-skyrocket-but-government-policy-is-increasing-inequality.html#">academia have all said that runaway inequality can cause financial crises:
 
 

• Robert Shiller

• Joseph Stiglitz

• Andrew Berg (IMF economist)

• Jonathan Ostry (IMF economist)

• Paul Krugman

• Robert Reich

• Mark Thoma

• Emmanuel Saez

• Thomas Piketty

• John Kenneth Galbraith

• Raghuram Rajan

• David Moss

• Kemal Dervi

• Michael Kumhof

• Romain Rancière

• Robert Wade

• David Ruccio

• Marriner S. Eccles (Federal Reserve chairman from 1934 to 1948)

Indeed, extreme inequality helped cause the Great Depression, the current financial crisis … and the fall of the Roman Empire.
It’s not just liberal economists who say this … many conservatives say the same thing.