Question: Prof. Rajan, will we see more equitable redistribution…?Answer: ……I think the rich nowadays are the working rich, rather than the idle rich. …..Too many Americans do not have a high school degree…. (Source: Business Week).
My view. Redistribution of income is not about taxing the rich to give the money to the poor. It is about raising the educational standards of the country so that we can be competitive in the world markets. Anything short of this is a political scam.
The decline of the dollar reflects our loss of competitiveness. It is not about the printing press of the Fed.
Editor, The Peter Dag Portfolio. Since 1977
Ranked best market timer in the 12 and 6 months ending 8/20/10 by Timer Digest
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