Research Director of the Adam Smith Institute, Sam Bowman, spoke to Voice of Russia about the ‘market-friendly’ way of addressing inequality.
CEO salaries and banker bonuses came under particular scrutiny. Sam Bowman is Research Director at the Adam Smith Institute, a libertarian think tank. He doesn’t think inequality is the problem:
“What’s really important is how much wealth people at the bottom have. It’s not really relevant how much money people at the top have, as long as they aren’t exploiting people at the bottom, which doesn’t seem to be the case. Usually inequality is a product of economic growth. Wealth tends to grow a bit more quickly for those who own capital.
“The really interesting story is equality around the world. One of the phenomena of globalisation is that as inequality grows in individual countries in the developed world, it decreases across the world because people in poor countries tend to get a lot richer because jobs such as manufacturing are moved to poorer countries. I think that’s a good thing.”
Read the full article here.