Socialism for the rich: the evils of bad economics

The long read: The economic arguments adopted by Britain and the US in the 1980s led to vastly increased inequality and gave the false impression that this outcome was not only inevitable, but good In most rich countries, inequality is rising, and has been rising for some time. Many people believe this is a problem, but, equally, many think theres not much we can do about it. After all, the argument goes, globalisation and new technology have created an economy in which those with highly valued skills or talents can earn huge rewards. Economics Corrupted Us by Jonathan Aldred, published by Allen Lane and available at guardianbookshop.co.uk Follow the Long Read on Twitter at @gdnlongread, and sign up to the …

Can Wharton Revoke Trumps Economics Degree Now?

Despite all the success enjoyed by 19th century industrial magnate Joseph Wharton, the 21st century has not been kind to his familys legacy. His great-great-great grandson, Josh Rosen, was ignominiously canned as quarterback by the Arizona Cardinals and sold off for peanuts to the Miami Dolphins. But even worse, the family name he gave to the business school he founded at the University of Pennsylvania has been irreversibly damaged by one of that schools graduates, the 45th President of the United States, Donald Trump. Admittedly, even though the Wharton School took money from the Trump family and admitted his children Ivanka and Don, Jr., it never bragged that much about its association with Trump given his checkered business past. Every …