Published in The National Business Review (Auckland), 3 June 2016
Perhaps the defining global economic issue of this decade has been inequality. The notion that a free market economy promotes inequality is having an impact on the political climate.
Concerns about inequality are responsible for the rise of populist leaders. They are behind calls for more redistributionist policies to compensate the losers of globalisation. They are at least partly to blame for the growing public suspicion of and resistance to trade agreements.
What is remarkable about this development is the fact that these concerns are increasingly shared not just by the critics of the market economy but also by its proponents.
In early 2014, the International Monetary Fund claimed to have found three facts about inequality: First, that more unequal societies tended to redistribute more. Second, that lower net inequality was correlated with faster and more durable growth. And third…
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Utopia, you are standing in it! 
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