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Less income inequality portends less poverty and a healthier population which provides benefits to the US. Greater income inequality provides the wealthy with greater influence on the political process and over those less well-off. Greater income inequality also provides the young wealthy with a better chance to succeed than their poorer counterparts.In "U.S. Inequality & Economic Growth, A Call for a Deeper Dive" Michael analyzes the relationship between income inequality and economic growth. U.S. GDP is the indicator for U.S. economic growth while the Gini coefficient is the inequality metric. Data spans the period 1944 to 2016 and the major finding is the following: as income inequality gets more unequal, the rate of economic growth slows.
Michael Williams
Michael Williams (PhD, University of Pennsylvania) is Emeritus Senior Professor of Old Testament Studies at Calvin Theological Seminary, a member of the NIV Committee on Bible Translation and the Chairman of the NIrV Committee. He is the author of Deception in Genesis, The Prophet and His Message, Basics of Ancient Ugaritic, The Biblical Hebrew Companion for Bible Software Users, How to Read the Bible through the Jesus Lens, Hidden Prophets of the Bible and is editor and contributor of Mishneh Todah. His passion is to provide curious believers with knowledge of the Old Testament and its culture so that they may grow in their comprehension and appreciation of redemptive history and be adequately prepared to promote and defend the faith through word and action. Michael resides in Florida with his wife, Dawn.
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