The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
from The Great Debate:
What better time to gauge the emotional profile of Senator Bernie Sanders (I-Vt.), an avowed Socialist, than during his Labor Day speech to the AFL-CIO in New Hampshire? After all, the independent junior senator from Vermont, who’s running for the Democratic Party’s presidential nomination, has a website home page that focuses on economics and the working class. Creating jobs, raising wages, “taking on the enormous economic and political power of the billionaire class” is what Sanders says his campaign is all about.
At the Upshot over the weekend, Tyler Cowen writes that Americans’ view of income inequality is too narrowly nationalistic. Instead, he says, we should “preface all discussions of inequality with a reminder that global inequality has been falling and that, in this regard, the world is headed in a fundamentally better direction.” Basically, rising incomes in growing economies like China and India should outweigh the inequality concerns of countries (like the U.S.) where increasing exports are causing incomes at the top to rise. “While Chinese growth has added to income inequality in the United States, it has also increased prosperity and income equality globally,” he says.