On January 25, Gallup published poll results in a release titled “Americans Divided on Whether U.S. Economic System Is Unfair.”
In the poll results, it is seen that 45% think the economic system is “fair” while 49% think it is “unfair,” with 6% having “no opinion.”
The poll also asks “Do you think the U.S. economic system is fair or unfair to you, personally?”
This issue of whether the economic system is “fair” is very important. I believe that “fairness” of an economic system – especially that of one considered “capitalist” in nature – is a very complex issue.
While I have many thoughts on the issue, I will defer commenting on the issue of fairness of the economic system primarily because my comments would be exceedingly lengthy and complex.
However, for now, I will say that any discussion of fairness would include the concept of Moral Hazard, which I have previously commented upon.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1342.57 as this post is written