Income Inequality: Who Cares?

Massachusetts Senator Elizabeth Warren has just been awarded a post of significant policy importance in what will soon be the Democratic Minority Leadership. She is the leading political exponent of the “income inequality” wars, and as a potential (though so far reluctant) Democratic presidential candidate in 2016, can be expected to drive the issue unmercifully for the next two years. Ammunition for the war is supplied periodically by French economist Thomas Piketty, who has written a book on the subject (the Amazon link is here), showing that the share of…