Before retiring recently Edward Conard used to work at Bain Capital with Mitt Romney. New York Times magazine has a lengthy profile on Conard and a new book he's written titled Unintended Consequences: Why Everything You’ve Been Told About the Economy Is Wrong.
Conard's book is a defense of income inequality. Here's how he illustrates his thesis in NYT's profile...
Conard picked up a soda can and pointed to the way the can’s side bent inward at the top. “I worked with the company that makes the machine that tapers that can,” he told me. That little taper allows manufacturers to make the same size can with a tiny bit less aluminum. “It saves a fraction of a penny on every can,” he said. “There are a lot of soda cans in the world. That means the economy can produce more cans with the same amount of resources. It makes every American who buys a soda can a little bit richer because their paycheck buys more.”
That's the best he could do?!
Conard's book comes out next month. I hope there's more to it than Coke can lips.