More wealth for the rich is a waste

If I go into a restaurant and order five meals when I only intend to eat one, that would be recognised as wasteful. If I bought five tins of paint when I only needed one, I’d be wasting my money. We understand waste at the micro level. Why do these rules not apply at the macro level?

I ask because Oxfam’s latest inequality report, timed as usual for the World Economic Forum, shows how wasteful the global economy is. It reliably delivers more for those who already have plenty.

Here’s the h...