Income inequality

Krugman to the Rescue!

Featured image There’s hardly anyone who can top former Enron adviser (TM James Taranto) Paul Krugman in the sweepstakes for bemoaning income inequality, and so it makes perfect sense that City University of New York would hire Krugman for $25,000 per month to be a grandee at its new center to study the problem.  The Onion and The Daily Show may as well take the rest of the day off. The offer »

On Inequality, Voters Aren’t Buying the Democrats’ Solution

Featured image Word is that President Obama’s State of the Union speech will focus on inequality. This is no surprise, as the Democrats have concluded that inequality is the issue that gives them the best chance to distract from Obamacare’s failures and fire up their base. It also offers an implicit rejoinder to the fact that Obama has presided over a lousy economy for the last five years: sure the economy is »

Inequality — a necessary ingredient of New York’s greatness

Featured image At his inauguration, New York’s new mayor Bill DeBlasio denounced the city’s economic inequality. He seemed to argue that to remain truly great, New York must remedy income inequality. I submit, however, that New York is great in part because of income inequality. The wealth at the top end of the economic spectrum clearly has played a major role in the city’s greatness. For one thing, the very rich have »

Home economics

Featured image Michael Barone has written an important column about the relationship between the breakdown of the American family and income inequality and lack of social mobility. Barone relies in part on Nick Shultz’s book Home Economics: The Consequences of Changing Family Structure which I have not read. Barone’s thesis — that growing up outside of a two-parent family means lower income, less social mobility, and less “human capital” — is not »