and it's not formalized there. i think there is something there. and whenever you have a recession like this, people return to the ideas jury is still out. but i definitely think there is something more to be said there. >> [inaudible] i'm affiliated currently. my question about income inequality. we're are hear a lot about it these days. it's sharply on the the increase in particularly in economists. the concentration of income. what concerns me. i didn't think it's terribly helpful to say it's the free market. social mobility is low and as much as we can measure it. it's hard to measure. it's low in the countries. you think that's the place where quality of opportunity and people can rise to the top and so can extreme income equality and despite a generation things change. it's less true in america what to do about that -- pinetively taxation is being tremendously productive way of dealing with it. it's not about inheritance. there's something else being passed down between the generation. what i observe is that the scandinavian countries have by most issues absolutely first class primary and secondary education. and not only is the average level very high by measures they trust, but the dispersion of the quality of schools is low. >> i agree with film. instead of agreeing let put things a little bit differently. we talk about income equality. the way that i would start talking about it is earning inequality. why is that some people are able to earn much more than other people? and i think a lot of this has to do with changes in technology. so i don't think this -- i think to the extent that the u.s. is crucial from other places in the world, i think that's because we're on the leading edge. i think other places in the world will follow along and have been following along. what do i mean by technology? the story i think about here is jk rowling. he's the first author in the history of the world to earn a billion dollars from her writing. why is this? is this because, you know, jk rowling was so much a better author than tolken or shakespeare? i don't think so. not to cast any apersians on her. i think he's a good author. is she better? no. i think the reason is because she is able to leverage using technology her writings much measure shakespeare was. shakespeare, the most he could earn, you know, in a night, you know, 500 people might see one of i had plays. jk rowling has access to basically every reader in the entire world. not just in english. jk rowling is huge in china, jk rowling is huge in india. jk rowling has access to the movies, the toys, the tie-in with mcdonalds and so forth. .. >> what i should do about that but i would start with the idea not of income inequality but earning income differences. why are so many people able to earn so much more than other people. that is my approach to that question. >>