Income Inequality Reality Check

For those of you who wonder why we need bankruptcy laws, there is an excellent essay about income inequality in today's Star Tribune by my colleague Ronald Lundquist.

I think we'd all like to live in a world where no one ever has to file bankrutpcy. We do need the bankruptcy safety net if we want to live in a society that encourages entrepreneurship and job creation (otherwise, it would be too risky to start a business). But the sad byproduct of delining wages and salaries is that we may be about to see an uptick in bankruptcy filings by regular, hard-working employees.

About the author: Dan Cooke