Capitalism is not the enemy and inequality can be a force for good: Economist William Watson
The McGill University economist argues that capitalism has lifted millions out of poverty, and that people who have good ideas or great talent should accumulate billions.
According to Statistics Canada, in the 1950s and '60s, the top one per cent of income earners in this country saw about eight per cent growth in their incomes. Since 1990, that same group has seen 33 per cent growth. That is substantially more than any other sector of income earners .But according to economist William Watson, the numbers tell just part of the story. He argues that inequality, like cholesterol, is both good and bad. And as he is quick to point out, capitalism has lifted millions out of poverty.
