Career Calling

November 9, 2011

Krugman on Income Inequality

Filed under: Economics — claycerny @ 4:59 am
Tags: , , ,

In his blog for the New York Times, Paul Krugman takes on claims that over-regulation has led to income inequality.  In the period immediately after WWII, when regulations were strongest, average family income outpaced the top 1%.  Since 1980, the top 1% has exceeded average family income by a rate that is near 4 to 1.

Does anyone wonder why the Occupy movement is so widespread?  There are two Americas:  One where the top slice gets most of the wealth and income; the other where people work to support the top slice.  Is this what was meant by “to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity”?

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