Monday, December 19, 2011

1,900 Year Old Wisdom: “An Imbalance Between Rich and Poor Is the Oldest and Most Fatal Ailment of all Republics”

I noted in February that John Kenneth Galbraith and Marriner Eccles explained 50 years ago that inequality causes crashes, and that many modern economists agree.

I just found a slighter older statement saying the same thing.

Specifically, the well-known Greek historian Plutarch – who died in 120 A.D. – said:

An imbalance between rich and poor is the oldest and most fatal ailment of all republics.

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Posted by Peacedream

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