Column: Consumption inequality, not income inequality, real issue


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Not surprisingly, last week’s column on income inequality drew a great deal of moralizing comments.

I am not sure it is helpful to connect moral principles directly to economic decisions about income. No matter whether you are angry or disappointed at rich people or poor, the simple fact that individual choice makes most of the difference in income is just that, a simple fact.

Calling rich people greedy and poor people lazy is intellectual indolence. It is happiness and a meaningful life we mostly all pursue, and income probably matters little in that.

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