Americans take it for granted that they can continue to enjoy one of the highest standards of living in the world. And with the Dow at 30,000, why worry?
When asked to list major economic problems, Americans are most likely to cite income inequality at the top of the list. That issue dominated this year’s debates among Democrat Party presidential hopefuls. The perceived problem is unfairness in sharing the national wealth. It is assumed that somehow the hidden machine that produces national wealth will continue to function on its own. The golden goose will keep laying eggs; thus, we need to spread more around for everyone.
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