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2020 | OriginalPaper | Chapter

14. Income and Wealth Policy: Toward Optimal Inequality

Author : Gary D. Lynne

Published in: Metaeconomics

Publisher: Springer International Publishing

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Abstract

Metaeconomics clarifies that extreme income and wealth inequality can drive deterioration in public health and exacerbate social problems. Metaeconomics clarifies that the inequality is also driving populism, and the move to extreme views in Political Tribes. Most importantly, Metaeconomics clarifies the task as one of finding the optimal amount of inequality. Cases such as in baseball team performance and business performance are highlighted, showing that both extreme equality and extreme inequality decrease overall performance. The focus needs to be on balance in compensation packages, thinking in terms of superstar and typical player, CEO management and labor as integrated in compensation. The same is true in thinking about social security and the minimum wage.

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Metadata
Title
Income and Wealth Policy: Toward Optimal Inequality
Author
Gary D. Lynne
Copyright Year
2020
Book
Metaeconomics

Print ISBN: 978-3-030-50600-1

Electronic ISBN: 978-3-030-50601-8

Copyright Year: 2020

DOI
https://doi.org/10.1007/978-3-030-50601-8_14