The Tom Woods Show, episode 483.

Prepare to set fire to the index card of allowable opinion.

Your daily dose of liberty education starts here, the Tom Woods Show.

Hey, everybody, if you're interested in more libertarian podcasts, let me recommend to you the

Jason Stapleton program hosted by my friend Jason

Stapleton. Monday through Friday, he gives you a libertarian look at the news. Check him out at

jasonstapleton.com. Hey, everybody, Tom Woods here. We're talking about inequality today.

This is a subject we have hit on a little bit in dribs and drabs, but never devoted a full episode to until today.

And joining us to talk about it on all different levels, how much of it is there, what, if any, are the reasons we should be concerned about it, is Scott Winship, who is the Walter B. Riston Fellow at the Manhattan Institute.

He holds a Ph.D. in Social Policy from Harvard University.

On the show notes page for today, tomwoods.com slash 483.

We will include a link to his archive of articles at Forbes.com.

And it's my pleasure to welcome him to the show right now. Scott, thanks for

being here. Oh, thanks for having me, Tom. I really have to thank you. You are doing my listeners

a tremendous favor because, as I said before we went on, mastering this inequality literature

is no small accomplishment. And having read a lot of your stuff, I can see that

you know this study and that study and what this one says and that one says and correlation and

causation and the whole gamut of issues that are raised you have written about. So rather than

try to master that literature myself, I'm just going to cheat by inviting Scott Winship onto the show.

Now, what you've done, one of the things you've done is looked at the issue of the consequences of inequality, because we see a lot of Facebook memes and President Obama statements that inequality is dragging down the economy, it's holding back growth.

I want to get to that in a minute.

Before we get to that, I want to talk about the extent of

...