The New Yorker on Technology & Inequality
Roger Cohen on US and European Approaches to Bankers Pay
Cohen’s brilliant summation:
“The essential
difference between the United States and Europe endures. It is over risk and
reward. The American experience begins with risk, that of immigrants who went
there in the first place. The European experience ends with solidarity, the
insurance policy an old and war-scarred Continent has taken out against the
worst. America yearns to be free, Europe to be free of want: politicians must
pitch their appeals accordingly. These are core characteristics, written into
the respective DNAs on each side of the Atlantic.”
UC Berkeley Economist Emannuel Saez’s Lecture on Inequality