19 of 20 people found the following review helpful
New ideas for liberals,
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This review is from: The Cost of Inequality (Paperback)
Usually progressives don't like free markets because, they say, they are often unfair to the weak and cause high degrees of social inequality. Free-marketeers retort there's no other way to efficiency, so everybody is due to become better off at the end of the story. In this readable book British economist Stewart Lansley explores and summarizes a new set of ideas: too much inequality leads to heavy losses of efficiency, so in the end it is harmful to all. Profits and very high incomes that outstrip productive investment opportunities lead to an overgrowth of finance; and financial instability now risks throttling productive capitalism. Lansley is no enemy of free markets; he only wants to show they work better if carefully regulated towards fairness.