When it comes to income inequality, conventional wisdom says that it's been getting worse for a long time. Productivity is going up, but middle-class incomes are stagnating. The rich are getting richer and the poor are getting poorer. You've heard it over and over again. Many free-market economists have argued against the conventional wisdom, only to be dismissed as out of touch. But an incredible new paper from Northwestern Professor Robert Gordon, a pillar of the "mainstream" academic establishment, says maybe they are right and have been for a long time.Read on. Interesting point on the Heartland numbers as well.
Tuesday, October 27, 2009
Stuff the class war demagoguery
Brian Wesbury and Robert Stein, Forbes (and is the government part of the problem?):
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