Arguments for redistribution rely on the idea that growth benefits only very few people. Research shows that to be untrue. A rising tide still lifts all boats.
Possibly the main debate in economic policy today is growth vs redistribution: who gets how much of the cake, or should we try to bake a bigger cake? Arguments in favor of redistribution have rested on the idea that growth – a bigger cake – benefits only very few people. This research shows that to….