Re: ReOrient global Keynesianism (5) - Galbraith

["g kohler" <kohlerg@xxxxxxxx>]

in response to Warren Mosler 05 March 2003
who mentioned an article:
http://www.nber.org/digest/nov02/w9202.html
"Inequality of after tax labor income has increased by
25 percent in the 1972-98 period. Yet consumption
inequality has risen less than 2 percent." [sc. in USA]


Is, perhaps, true in the U.S., but the summary of the article does not
report how they measure consumption inequality. Even if true in the U.S., I
doubt that it can be generalized to the world as a whole. Starving people
in Ethiopia cannot simply increase their consumption with the use of a
credit card. The Galbraith observation was for rising inequality at the
world level.

Gert