Smith on Income Equality in the U.K.

Wealth and income distribution is a point of interest across the pond as well, and it gets quality treatment in this piece by David Smith, economics editor of London’s Sunday Times. His observations are just as applicable to the States as they are to the UK: http://www.economicsuk.com/blog/000538.html

"The central point is that when claims of record levels of inequality are bandied around, people will often reach for the knee-jerk response; that the rich need to be taxed a lot more and the poor given more direct financial support from the government…The real solution to inequality lies elsewhere. The gaps that have emerged in recent decades are between those who have the skills to prosper in a globalised world and those who do not."