Saugato Data talks about “Fault Lines”, a book by Raghuram Rajan, in which the author blames the recession on pushing cheap credit to the poor, as a political response to the growing inequality in US - in 2007 the richest 1% of American households took a staggering 18.3% of national income.

made: 2011-01-19

link: www.economist.com/node/17957107

keywords: ecfoc recession long legs model inequality gap poor credit layer society money rich tokens