Does Income Inequality Matter?

theodp is concerned about the following: "Alarmed by Goldman Sachs CEO Lloyd Blankfein's record-setting $53M bonus, Charles Wheelan (aka The Naked Economist) argues that income inequality matters. Wheelan notes that the Gini Coefficient (a measure of income inequality) for the U.S. has been moving away from countries like Japan and Sweden and closer to that of Brazil, where the murder rate is 5X that of NYC and crime is materially impacting GDP."

I was recently mugged by a CEO...

[Anonymous Coward]

...because he only got a $10 million dollar bonus. Made me withdraw money from my MAC at gunpoint and requested notes no lower than $1000 dollar bills.

Re:Correlation... causation

[Wandering Wombat]

What the hell are you doing posting on Slashdot? You're obviously WAY too smart for that.

Mod parent up, big time.

This is /.

[blueZ3]

Anyone who makes more than you is an evil overlord whose moral turpitude threatens the very fabric of our free society.

Ob Homer Simpson quote

[RPGonAS400]

Lisa, if you don't like your job you don't strike. You just go in every day and do it really half-assed. That's the American way. -- Homer Simpson

Re:Correlation... causation

[DoofusOfDeath]

... results in greater civil unrest, which will often manifest as violence and other criminal activity (looting, etc).

That's totally correct according to my experience. The other night, the Russians had a war that lasted too long, and like even the people in Minsk rioted, and they totally trashed the temple. Man, Civ III is awesome...

Does income inequality matter?

[Skim123]

Short answer "No" with a "but", long answer "Yes" with an "if".

Re:Correlation... causation

[Knuckles]

In most third world countries ... the people at the top do far less work and produce far less goods than the people at the bottom

Atlas Shrugged is about the *only* place were the people at the top work and produce more than the people at the bottom ;)

Re:Correlation... causation

[Xeth]

To me, the only currency that matters, the only one whose value is fixed and whose purpose is clear, is energy.

Human: correct in making leap from energy as power to energy as currency.

Re:Correlation... causation

[Anonymous Coward]

What is the use of firearms?

Protection? Nope, that is what pepper spray and martial arts are for.
Hunting? Eliminate the addiction of animal flesh and hunting would be unneccessary.
Defending the Home? That is what home security systems and police are for.

That only leaves killing others needlessly, that is why all firearmsneed to be banned.

As for inequality, it is causing the poor to besubjected to starvation, especially their children. All is needlessly. This is caused by capitalism. When you have capitalism mixed with socialism, then capitalism would cause the socialism to fail causing the whole economy to fail. With pure socialism or communism, the people will win. Ther4e would be no inequality.