American economist Larry Summers wrote an opinion in the Financial Times on June 8, 2014, titled “The rich have advantages that money cannot buy.” Summers pointed out that income inequality stretches beyond the money that the superrich have—they also have better health and have access to more opportunities. The title of the opinion piece became frequently cited.
“Professor Lawrence Summers (or a clever FT editor) coined the wonderful phrase ‘The rich have advantages that money cannot buy’” was cited in the Financial Times on July 4, 2014.
Wikipedia: Lawrence Summers
Lawrence Henry “Larry” Summers (born November 30, 1954) is an American economist who is President Emeritus and Charles W. Eliot University Professor of Harvard University.
June 8, 2014 7:01 pm
The rich have advantages that money cannot buy
By Lawrence Summers
The differences between the rich and everyone else are about health and opportunity
With the popularity of Thomas Piketty’s book, Capital in the 21st Century, inequality has become central to the public debate over economic policy. Piketty, and much of this discussion, focuses on the sharp increases in the share of income and wealth going to the top 1 per cent, 0.1 per cent and 0.01 per cent of the population.
Simon C.Y. Wong
The rich have advantages money cannot buy: Better health and opportunities for their offspring http://on.ft.com/TvYxCC #inequality
4:52 PM - 8 Jun 2014
if, as Larry Summers says, http://stks.co/t0Pi3 “the rich have advantages that money can’t buy,” then how did the rich get ‘em? #WSJ
10:55 AM - 10 Jun 2014
July 4, 2014 12:02 am
Who owns the robots will be key
From Mr Mark Tierney.
A couple of weeks before Mr Andreessen’s contribution to the Comment page, Professor Lawrence Summers (or a clever FT editor) coined the wonderful phrase “The rich have advantages that money cannot buy” in the same section. Might those advantages include having less reason to “fear the robots”
New York City • Banking/Finance/Insurance • Thursday, July 03, 2014 • Permalink