Chrystia Freeland published a fascinating essay in The New York Times which addresses the phenomenon of how income inequality affects political power. This argument is, of course, central to the proposition we have discussed in class: that concentration of wealth leads to concentration of political power which then results in underconsumption and collapse. Although she uses evidence from contemporary America, I would encourage those in the class who know other societies as well to consider whether her arguments are relevant. Since it is a long essay, I will not post any other articles for today.
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