Why Inequality Is Bad For The Economy Chris Tilly Analysis
1006 Words5 Pages
Chris Tilly, “Why Inequality is bad for the Economy: Geese, Golden Eggs, and Traps”
Wealth Inequality Reader, 2004
Chris Tilly, a professor of Urban Planning and Director of the Institute for Research on Labour and Employment at UCLA, teaches courses on economic development and research methods. In his article “Why Inequality is bad for the Economy: Geese, Golden Eggs, and Traps” he talks about effects of inequality on economy and tries to explain why equality can promote growth. He argues against conservatives who are supporter of the idea that inequality leads to economic growth. The counter-arguments described in the article seems to be strong enough to convince the reader about effectiveness of equality in economic growth. The article flows smoothly, the idea is clear and maintained well, however, lack of statistical data and sources to the stated facts makes the article less reliable. Also, it seems that the author tries to give counterclaims as many as possible in order to make conservatives’ argument weaker. Which, in turn, leads to a propaganda against conservatives. Moreover, the conclusion does not reach the target set by the author and has not been constructed logically.
In the article two main arguments of conservatives: the incentive argument and trickle-down theory are described. Firstly, as conservatives say, economic inequality is necessary for economic growth as it promotes incentives; motivates people to work hard and be more creative, hence, make crucial