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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPaul Krugman: Why Inequality Matters
Rising inequality isnt a new concern. Oliver Stones movie Wall Street, with its portrayal of a rising plutocracy insisting that greed is good, was released in 1987. But politicians, intimidated by cries of class warfare, have shied away from making a major issue out of the ever-growing gap between the rich and the rest.
That may, however, be changing. We can argue about the significance of Bill de Blasios victory in the New York mayoral race or of Elizabeth Warrens endorsement of Social Security expansion. And we have yet to see whether President Obamas declaration that inequality is the defining challenge of our age will translate into policy changes. Still, the discussion has shifted enough to produce a backlash from pundits arguing that inequality isnt that big a deal.
Theyre wrong.
The best argument for putting inequality on the back burner is the depressed state of the economy. Isnt it more important to restore economic growth than to worry about how the gains from growth are distributed?
Well, no. First of all, even if you look only at the direct impact of rising inequality on middle-class Americans, it is indeed a very big deal. Beyond that, inequality probably played an important role in creating our economic mess, and has played a crucial role in our failure to clean it up.
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http://www.nytimes.com/2013/12/16/opinion/krugman-why-inequality-matters.html?smid=tw-NytimesKrugman&seid=auto
Electric Monk
(13,869 posts)&U&G&M&A&N
senseandsensibility
(17,113 posts)cantbeserious
(13,039 posts)"The promise of a prosperous middle-class life with decent work, rising living standards, and the potential for a better future has long been the foundation of the American dream. But as America continues to struggle to recover from the Great Recession, it has become clear that the middle class is in jeopardy -- and many of the policies of the last 40 years are to blame.
Examining the political, legislative, and corporate choices that have pushed the middle class to the brink, Pulitzer Prize- and Emmy Award-winning journalist, producer, and bestselling author Hedrick Smith details the story of this demise. In his new book, Who Stole the American Dream?, Mr. Smith analyzes how "pro-business" policies dismantled the previous American social contract and tells the stories of the people who have been left behind. ..."
The Book - Who Stole The American Dream
http://www.amazon.com/Stole-American-Dream-Hedrick-Smith/dp/1400069661
See the Powell Manifesto Here.
http://www.thwink.org/sustain/articles/017_PowellMemo/PowellMemoReproduction.pdf
Commentary Here.
http://www.thwink.org/sustain/articles/017_PowellMemo/
ReRe
(10,597 posts)... and then buy the book and read it at least twice before passing it on to a friend or to the local library if they don't have a copy in their stacks. It explains everything about how the wingers brought this country to this horrible place in time.
K&R!
cantbeserious
(13,039 posts)#t=1
hfojvt
(37,573 posts)for Krugman to not cheer for policies that increase inequality?
http://www.democraticunderground.com/?com=view_post&forum=1002&pid=2225110