Greenspan did put forward a proposal on how to reduce the growing inequality of incomes in the United States — admit more skilled immigrants into the country.
The former Fed chief said that increasing the number of immigrants with sought-after skills would increase the labor supply of these workers in the United States and hold down the wage gains of all workers with these skills.
In that way, Greenspan said, the gap between skilled and unskilled workers would be lowered. He said it was critical to find ways to address growing income inequality in the United States.
See previous related notes on software economics.
UPDATE:Â Here’s an interesting question. “What is the purpose of free software?”Â Contrary to what is commonly claimed, the answer is not the same for everyone. The next question, left as an exercise for the reader, is “How does the previous question relate to this post?”