Editor, The News:
Re: We do need more Warren Buffets (Letters, Nov. 9).
Dan Banov certainly doesn’t seem to have any trouble defending the way the free enterprise system has been allowed to develop over the recent decades, so I have one more question for him. In Britain the other day, The Guardian newspaper reported that “between 1947 and 1979, productivity in the U.S. rose by 119 per cent, while the income of the bottom fifth of the population rose by 122 per cent. But from 1979 to 2009, productivity rose by 80 per cent, while the income of the bottom fifth fell by 4 per cent. In roughly the same period, the income of the top one per cent rose by 270 per cent.”
Can Mr. Banov please explain to us why he thinks this is fair?
Stuart de Jong