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Sunday, February 16, 2014

The One Percent Debate continues...

It's pleasant when leading economists from the top economy debate on issues like income inequality. The financial crisis back in 2007-2008 opens the door for debate, which eventually helps the policymakers to formulate appropriate policy to deal the talked issue. After Gregory Mankiw's first paper (Defending the One Percent) in the Journal of Economic Perspectives, Robert Solow responded (The One Percent) quickly in the same journal. Now, Mankiw again wrote (Yes, the Wealthy Can Be Deserving) in the New York Times.

While the topic should be more precisely related to developing economies, this debate anyway reflects disentangled global economic environment, which also guided the economic debates.     

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