Scheduled for Squawk Box: January 2, 2020 6:50 AM EST: Talking Points

Our fearless leader over at Equitable Growth Heather Boushey interviews the great Gabriel Zucman. The most important point is that the increase in inequality in America has been largely a choice—a choice of those elected, even if the one elected was done so by a margin of 5-4 Supreme Court justices, or collected 3 million fewer popular votes: Gabriel Zucman: _In Conversation: "There is this widespread view that rising inequality is a mechanical consequence of globalization and technical change, spurred in large part by competition with China and the substitutions between workers and machines. But, you know, France has computers too, and also trades with China—and generally trades more than the United States. So, it does not seem possible to explain the stagnation of U.S. working-class income by globalization and technical change. It’s more likely that this stagnation of income for the bottom half of the U.S. income distribution comes from policy changes. Things such as the collapse of the federal minimum wage, the declining power of unions, changes to taxation, to access to higher education, etc...

#noted #2020-01-01