Angus Deaton on US inequality and the Pareto Criterion
Angus Deaton: US inequality and the Pareto Criterion:
There is much to be said for equality of opportunity, and for not penalizing people for the success that comes from their own hard work. Yet, compared with other rich countries, and in spite of the popular belief in the American dream that anyone can succeed, the United States is in fact not particularly good at actually delivering equal opportunities…