Economic security

Want To Reduce Inequality? Consult China, Vietnam And India

President Obama has called income inequality the “defining challenge of our time.” Many progressives blame the market economy and doubt John F. Kennedy’s view that “a rising tide lifts all boats.” In 2011 Mr. Obama chided those who believe “the market will take care of everything.” It’s a “simple theory,” he said. “It fits well on a bumper sticker. Here’s the problem: It doesn’t work. It’s never worked.”