Distribution of income completely equal

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In a speech, Federal Reserve Chairman Ben Bernanke made the following observation: "Although we Americans strive to provide equality of economic opportunity, we do not guarantee equality of economic outcomes, nor should we." If the federal government wanted to, how could it "guarantee equality of economic outcomes"? If the government succeeded in making the distribution of income completely equal, what would be the benefits, and what would be the costs?

Reference no: EM131023586

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