At a talk he gave at Occupy Monterery:
"There's a common view that when markets are free, the rich get richer and the poor get poorer. It's not a total myth: it's half true. The rich get richer, the poor get richer, and pretty much everyone else gets richer."
A clever OWS-Monterey attendant that thinks in terms of rates of growth and convergence and divergence might have realized this dodges the inequality point somewhat. But I still like the line and it is still, of course, 100% true even if it leaves more to be discussed.
Pigou was not a Pigovian
3 hours ago