GreenSpin

Alan Greenspan, the great supply side Objectivist has been Chairperson of the Federal Reserve Bank since 1987. His economic policy, as well as that of those who look to him for political support, has been summarized by politicians such as George Bush and John Snow as

The wealthy might be becoming wealthier, apologists for this growing inequality soon argued, but their growing fortunes spelled only good news. The more wealth in already wealthy pockets, the argument went, the more the wealthy would invest, the greater the prosperity for everyone.

This is the "money is good for rich people and bad for poor people" doctrine.

Sam Pizzigati has posted an article over at TomPaine.com, that discusses the phenomenon of the growth in inequality of income distribution during the Greenspan era.

According to Pizzigati,

Our pay gap between typical CEO and typical worker has stretched wider than ever at the same time the educational gap between CEO and wage-earner has become narrower than ever before.

Greenspan, like all capitalists, has tried to wax altruistic upon his pending retirement by holding up "better education" as the great need for equalizing income distribution in America, by equalizing skills. This is the same problem education has always faced: the desire of those outside the education system to cure society of its ills by "fixing" education according to some formula or trend they perceive as being more relevant or urgent at the moment.

The inevitable result of this is the perpetuation of a flawed educational system, not to mention excessive divergence in income between workers and capitalists.