How much inequality is acceptable?

Inequality matters. Inequality is also inevitable. So how much of it is acceptable? It’s a question I don’t hear very often, but it’s a pretty important one.

I’m not sure I know anyone who advocates absolute equality, and history suggests its a doomed idea. But even if it was possible, is absolute equality something we really want? People have different levels of ability, motivation and ambition. Some work harder or longer. Branko Milanovic, an economist who specialises in inequality, still ...