Anne Bradley on Income Inequality
The one accomplishment of Occupy Wall Street (if it can be called an accomplishment) is to get people talking about the 1% and 99%. Unfortunately, such language betrays several economic myths: that people are frozen like mosquitos in amber in the same income bracket for life, that the wealth of a few causes the poverty of the many, and so forth.
This thinking, in turn, causes moral judgments about inequality to misfire.
Economist Anne Bradley at the Institute for Faith, Work, and Economics has just released a new research paper dealing with both the economic and biblical/theological issues involved in income inequality. She makes a number of important points, but perhaps my favorite is that, short of cronyism, we need to be concerned, not with inequality of income, but with the relative prosperity and income mobility of the people at the bottom.
Read the whole thing here.