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Many people who worry about economic inequality are unaware of the facts about inequality. Here are five: (1) income inequality can rise even while poverty is falling; (2) even if everyone of the same age earned the exact same income, income inequality would be substantial; (3) households with higher income have more people working than households with lower income; (4) income inequality worldwide has fallen; and (5) it matters crucially whether income inequality results because higher-income people contribute to society or because higher-income people take from society.
David R. Henderson is an Emeritus Professor of Economics at the Naval Postgraduate School in Monterey, California, a Research Fellow with the Hoover Institution at Stanford University, and a Senior Fellow with Canada’s Fraser Institute. He was previously a senior economist for health policy and for energy policy with President Reagan’s Council of Economic Advisers.
He has given talks before a wide range of audiences including federal judges, U.S. Navy Admirals, farmers, undergraduates, and seniors.
David is the editor of The Concise Encyclopedia of Economics, the only reader-friendly encyclopedia of economics, and has written 3 other books, The Joy of Freedom: An Economist’s Odyssey, The Essential UCLA School of Economics (co-authored with Steven Globerman) and Making Great Decisions in Business and Life (co-authored with Charles Hooper.) As well as publishing in academic journals, he has written over 300 articles for such popular publications as the Wall Street Journal, New York Times, Barron’s, Fortune, Los Angeles Times, Washington Post, USA Today, Chicago Tribune, National Review, Defining Ideas, and Reason.
He has testified before the House Ways and Means Committee, the Senate Armed Services Committee, and the Senate Committee on Labor and Human Resources. He has also appeared on C-SPAN, CNN, the Jim Lehrer Newshour, the John Stossel show, the O’Reilly Factor, the Ingraham Angle, MSNBC, RT, NPR, CBC, and the BBC.
Born in Canada, he moved to the United States in 1972 to earn his Ph.D. in economics at UCLA. He became a U.S. citizen in April 1986.