Our Hedge Fund Republic

To follow up the "Our Banana Republic" Op-Ed I now mention in three recent posts, Nicholas Kristof responded to his critics with a fire.

"My point was that the wealthiest plutocrats now actually control a greater share of the pie in the United States than in historically unstable countries like Nicaragua, Venezuela and Guyana. But readers protested that this was glib and unfair, and after reviewing the evidence I regretfully confess that they have a point. 

That’s right: I may have wronged the banana republics.

You see, some Latin Americans were indignant at what they saw as an invidious and hurtful comparison. The truth is that Latin America has matured and become more equal in recent decades, even as the distribution in the United States has become steadily more unequal."

To hear more of Kristof's fact based defense, I encourage you to read "A Hedge Fund Republic?" To follow the recent US inequality discussion on "Just A Thought...", scroll through Failed Latin American Policy Applied at Home and American Inequality - At Least It's Not Socialism.

Our Hedge Fund Republic