Trickle-down\u2019s middle-class massacre: Failure of conservative economics should discredit these bankrupt ideas forever

Distinguished Professor of Economics Peter Lindert is quoted in Salon.

America had its share of rich people, and of course it had slavery. But even so, the rich were not that much richer than the middle class. As Peter Lindert, an economic historian at UC Davis, explains: “Compared to any other country from which we have data, America in that era was more equal.” Those who lived during America’s founding sensed that the country’s economic equality was special. Thomas Jefferson noted in a letter that “we have no paupers. . . . The great mass of our population … possess property [and] cultivate their own lands…. The wealthy, on the other hand, and those at their ease, know nothing of what the Europeans call luxury.”

Read more at Salon.