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Economic Reality vs. Political Rhetoric | The Aneesh Karve Series | Episode 5 (WiM272)
The "What is Money?" Show
The Unnatural Effects of Equal Outcomes
"Equal outcomes are just the most unnatural thing imaginable," says economist Robert Solow. "It's, you're not grounding out in the reality of acting individuals in the world", he adds. He argues that when using household income data, rather than individual income data, it's like obfuscating the true economic circumstances faced by individuals. 'I think this is one of the main things we're going to treat in this chapter is that politicians will obsess over the fate of abstract categories'
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