Good News?

The left must be pleased with recent reports that income inequality has decreased during the recession. Unfortunately, this change has been a result of decreases in the income of the wealthiest Americans, not increase in the incomes of the poorest.

Nothing captures the egalitarian problem more succinctly: would you rather everyone be poorer but more equal in the poverty, or everyone richer but with income disparities?

The recession, and its impact, illustrate this isn't an idle question.