Highly skewed income distribution reduces social mobility. The locked-in advantages of children at the top of the income scale may already be irreversible.
Germans seem to have forgotten that Germany was the beneficiary of debt forgiveness several times in the twentieth century, after mistakes far worse than Greece's.
"Austerity" has been the common language of the modern international economy, but is under attack now by the new interpretation of wealth accumulation and finance.
President Obama makes it clear that he thinks it’s more important to win a long-term argument with his ideological opponents than to pretend they'll work with him.