When I wrote the other day that the Organization for Economic Cooperation and Development was the worst international bureaucracy, I must have caused some envy at the International Monetary Fund.
One can imagine the tax-free bureaucrats from the IMF, lounging at their lavish headquarters, muttering “Mitchell obviously hasn’t paid enough attention to our work.”
And they may be right. The IMF has published some new research on inequality and growth that merits our attention. I hoped it would be a good contribution to the discussion, but I was disappointed (albeit not overly surprised) to see that the authors put ideology over analysis.
Widening income inequality is the defining challenge of our time. …Equality, like fairness, is an important value.
Needless to say, they never explain why inequality is a more important challenge than anemic growth.
Moreover, they never differentiate between bad Greek-style inequality that is caused…
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Utopia, you are standing in it! 
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