Egalitarianism versus Rational Morality on Income Inequality

By Ari Armstrong

As Cato’s Alan Reynolds points out, various pundits (including Paul Krugman) have, based on the work of Thomas Piketty, declared that the percentage of income and/or wealth of the top 1 percent has surged in recent years. As Reynolds demonstrates, those pundits are wrong. But Reynolds’s analysis will hardly persuade today’s egalitarians to alter their p…