Inequality of Wealth Quotes



At the beginning of the First World War the senator called for surplus profits taxes on business to finance the war effort. President Wilson preferred bond financing and the business community castigated the Senator for not supporting the President's position. Later, when Wilson adopted the senator's view and called for additional taxes:


Malthus was of the view that population growth often eclipsed the capacity of government and private institutions to support the population. There are even today nations and subpopulations where the economic growth is reasonable but the population growth is greater so that at the end of each year, the average person is poorer and has a lower standard of living. What Malthus did not anticipate is the remarkable productivity growth rate of those institutions like American agriculture, which allo`ws many more people to thrive within a fixed geographic area.


The problem he described in 1938 was “solved” over the next decade, but then arose again with the advent of the “military industrial complex” during the Eisenhower administration. Reform made things better and then it began to emerge again in the latter part of the 20th century. This problem seems to go through cycles of abuse and reform.