Less Inequality (The Economist)

Having your cake – Less inequality does not need to mean less efficiency published by The Economist (10/2012) “…Milton Friedman argued that greater inequality would spur people to work harder and boost productivity. Gary Becker, of the University of Chicago, thinks that inequality encourages people to invest in their education. Redistribution, in contrast, brings inefficiencies as higher taxes and government handouts deter hard work. The bigger the state, the greater the distortion of private incentives.” http://econ.st/Rf7ysd