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Popular nonsense on income inequality and unpaid internships

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"Young people are exploited!" "Income mobility is down!" "Poor people are locked into poverty!" Those are samples of popular nonsense peddled today. Leftist economist Thomas Piketty's book Capital in the Twenty-First Century has been No. 1 on best-seller lists for weeks (with 400 pages of statistics, I assume Capital is bought more often than it is read). Piketty argues that investments grow...

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