Quotation of the Day…

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… is from page 117 of Norbert Michel’s excellent, data-rich 2025 book, Crushing Capitalism: How Populist Policies are Threatening the American Dream [footnote deleted; link added]:

A careful review of the empirical evidence provides no basis for the idea that income inequality is at the root of America’s economic problems, or that reducing inequality would increase economic growth, improve mobility, stave off financial crises, or fix the myriad other problems that critics attribute to inequality. Most of the research fails to support any causal link between inequality and the various socio-economic ills that critics attribute to it.