Injustice of Inequality--student

Injustice of Inequality--student - Comparative Economic...

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Comparative Economic Systems "The Injustice of Inequality" Grand Valley State University Dr. Daniel Giedeman
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Inequality and Growth Inequality is detrimental to the security of property rights, and therefore to growth, Because inequality enables the rich to subvert the political, regulatory, and legal institutions of society for their own benefit. If one person is sufficiently richer than another, and courts are corruptible, then the legal system will favor the rich, not the just. Likewise, if political and regulatory institutions can be moved by wealth of influence, they will favor the established, not the efficient. This in turn leads the initially well situated to pursue socially harmful acts, recognizing that the legal, political, and regulatory systems will not hold them accountable.
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2 Types of Institutional Subversion Arising from Inequality Robin Hood: The “have-nots” can redistribute from the “haves” through violence, the political process, or other means.
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Injustice of Inequality--student - Comparative Economic...

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