I’ve been told that the concept of equality of outcome was created by conservatives to demonize the left, and that no one on the left would ever talk about equality of outcome unless forced to by a conservative. Apparently Larry Summers, former Treasury secretary under Clinton and former economic adviser to Obama, didn’t get the memo.
“The reality is that inequality is likely to continue to rise, even with all that can responsibly be done to increase tax burdens on those with high incomes and redistribute the proceeds… The global track record of populist policies motivated by inequality concerns is hardly encouraging. However, passivity in the face of dramatic economic change is equally unlikely to be viable. Perhaps the debate and policy focus needs to shift from inequality in outcomes, where attitudes divide sharply and there are limits to what can be done, to inequalities in opportunity.” [Emphasis mine]
-Larry Summers, 15-Jul-12 (Link)