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Thursday, 2 March 2017

The real story of income inequality

The real story of income inequality
- Income inequality refers to the distribution of average income in a country. The argument presented by the left is that a plurality of the wealth is concentrated among the highest of income earners, and that this is unfair to the average worker. Many will say that this is a serious problem for the country, and cite the top 20 percent of income earners control nearly 80 percent of the nation’s wealth. However, this argument is misleading and does not tell the full story. Thomas Sowell, an economist and former Stanford professor, argued that the full story is not being addressed and that income inequality is not a problem.