Yglesias points out here the strong likelihood that income inequality = overpriced assets = unstable financial markets... which generally implies an unhealthy economy.
I think this type of model might be useful when discussing policy with mainstream "liberals" since the moral argument, income inequality = most of us are poor, is generally lost on such people.
Neither will get you very far with the Obama-Summers-Geithner Administration, though since all they understand is income inequality = most of my friends are rich = a system that must be preserved at all costs.
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