Angus Deaton Quotes
Although globalization and technological change have disrupted traditional work arrangements, both processes have the potential to benefit everyone. The fact that they have not suggests that the wealthy have captured the benefits for themselves.
Case, Anne, and Angus Deaton. Deaths of Despair and the Future of Capitalism. Princeton University Press, 2020.
The Supreme Court had ruled that there could be no limits placed on the amount of money that could be spent by a rich company or person to campaign for a candidate. It would deny them their right to freedom of speech. That was the context of Hollings’ remark.
This important statement would not have been a noteworthy quote as so many have said it before, except for the fact that she was writing as a spokesperson of Nationalist China and she was the wife of the Nationalist Party leader, Chiang Kai-Shek. And the great failure of Chiang’s governance was the corruption and the excessive exploitation of the Chinese people by the wealthy. Madame Chaing, educated at Vassar College, knew just what to say to Americans and she mustered incredible support for the Nationalist cause most of which would never have been forthcoming if Americans knew the truth about the Nationalist Government. It was so corrupt, that the vast majority of the people aided the Communists in defeating Chaing, expelling him from the mainland, and relegating his government to Taiwan. Madame Chaing’s hypocrisy was legend. See {615696}.
The crisis of inequality of income and wealth has occurred seven times in American history.
Sir Angus Stewart Deaton FBA is a British-American economist and academic. Deaton is currently a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Princeton School of Public and International Affairs and the Economics Department at Princeton University. His research focuses primarily on poverty, inequality, health, wellbeing, and economic development.