Wednesday, July 30, 2014

Even Goldman Sachs' CEO is now worrying about income inequality

How much economic inequality is there in the United States? So much that Lloyd Blankfein, the CEO of Goldman Sachs, went on television this morning and warned that it's "destabilizing" and making it impossible for the political system to "deal with problems." Even Blankfein thinks "Too much of the GDP over the last generation has gone to too few of the people."

Obviously if Blankfein wants to take action on this personally he could start giving away his whole salary (I would recommend GiveDirectly but honestly it's easy to find people with less money than the CEO of Goldman Sachs), but the fact of the matter is that inequality is a systematic political issue and not something that's effectively addressed through individual action.

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