William Darity, a professor of public policy at Duke University, said it’s “nonsensical” to think that greater wealth for the rich translates to improved fortunes for everyone else.
“Otherwise we would not have observed such an obscene increase in the degree of income inequality that has restored the magnitude of levels that existed on the eve of the Great Depression,” he told me.
“I have not seen anyone make a serious claim for a trickle-down effect with respect to wealth.”
Department of African & African American Studies
