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JakobVirgil · 3733 days ago · link · · parent · post: "extreme inequality is damaging not only because it is morally unacceptable, but because it's bad economics"
ermmm um .... look a pony. It is very hard to do economic policy experiments on a national level that are scientific.
i.e. Did the soviet experiment fail because central planning does not work or because they were in a cold war? Did America win because of the Market or because of a superior geographic/historical position? At the laboratory level playing econ games with students and cross-culturally with different ethnic groups the predictions of neo-classical economics don't seem to pan out. I would say econ is a troubling discipline.