POL SCI 51A Lecture Notes - Lecture 15: Structural Adjustment, 1997 Asian Financial Crisis, Import Substitution Industrialization
19 Oct 2016
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If you give money to a rich person, they will invest it and not spend it, but if you give money to the middle class, they will spend it. We are not just talking about rich people, but the super filthy rich people. The american dream is about opportunity, but you will not have this if some people have too much. Focus should be on the rules of the game. Changing the rules is how inequality changes. We have to ask what are the rules of the game that generate high levels of inequality. When he is saying inequality for all he is saying to be on a level playing field. Presuming you are making money out of undergrads why isn"t grad school free. In an environment like that, he is asking for a fundamental change. Advanced democracies:states characterized by strong democratic institutions guaranteeing equality; low levels of inequality.
