Who’s Who of Prominent Economists Say that Too Much Inequality Causes Economic Downturns

Inequality Is Bad For the Economy

A who’s-who’s of prominent economists in government and academia have all said that runaway inequality can cause financial crises:

• Robert Shiller

• Joseph Stiglitz

• Andrew Berg (IMF economist)

• Jonathan Ostry (IMF economist)

• Paul Krugman

• Robert Reich

• Mark Thoma

• Emmanuel Saez

• Thomas Piketty

• John Kenneth Galbraith

• Raghuram Rajan

• David Moss

• Kemal Dervi

• Michael Kumhof

• Romain Rancière

• Robert Wade

• David Ruccio

• Marriner S. Eccles (Federal Reserve chairman from 1934 to 1948)

Indeed, extreme inequality helped cause the Great Depression, the current financial crisis … and the fall of the Roman Empire.
It’s not just liberal economists who say this … many conservatives say the same thing.

This entry was posted in Business / Economics, Politics / World News. Bookmark the permalink.

← Note to Readers on Donations and Site Redesign

Insane Levels of Inequality – Which Hurt the Economy – Are Skyrocketing →