We live in the most unequal society ever

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We live in the most unequal society ever

Post by Destroy Greed on Wed Aug 27, 2014 9:58 pm

Paul Krugman: We live in the most unequal society ever, and it’s only getting worse

Thursday, April 17, 2014 11:14 EDT



Paul Krugman is a Princeton University Professor, not some idiot. Do you understand the seriousness of what he is saying. They (the rich corporate eliteists) have created this by outsourcing ALL jobs over seas and then importing cheap labor to take the rest. How do YOU fight the companies that are doing this to YOU? Take from the rich, create socialism - hell no! Just stop buying cheap disposable junk from China and support companies that make things here. There is a whole list on the right hand column of this forum at the bottom. Punish those that are screwing you and your neighbors and reward those that make things here!


Americans may be living in the most unequal society that has ever existed, said economist Paul Krugman.
The New York Times columnist and Princeton University professor said Thursday there is zero evidence to suggest extreme inequality is good for economic growth but plenty to suggest it’s not.
“Nobody wants us to become Cuba (but) the question is, do we have to have levels of inequality that are getting close to being the highest levels anywhere, ever,” Krugman told Bloomberg News. “We’re really starting to set new records here. Is that a good thing for anybody?”

The Nobel Prize winner said this troubling trend began around 1980, when President Ronald Reagan was elected and began implementing supply-side economic policies that promised more wealth for everyone if tax burdens were lifted for the rich.
“The fact of the matter is, since inequality began soaring, around 1980, the bottom half of America has pretty much been left behind,” Krugman said. “There has not been a rising tide that raised all boats.”
But he said American political leadership had throughout history set corrective paths whenever wealth became too unbalanced.
“If we could have modern politicians speaking forthrightly about the danger of high concentration of wealth, as Teddy Roosevelt did in 1910, we would be a long toward a good solution for this,” Krugman said, “and I guess I believe that America has a tremendous redemptive capacity and ability to take a look and say, ‘OK, in the end, what are our ideals? What do we want our society to look like?’”
He said current conditions were much worse than the notorious “Gilded Age” of the late 19th Century that ushered in an era of progressive reforms to start the 20th Century.
“It’s an era of not just inequality, but increasingly what looks like inherited inequality, and I think people understand that,” Krugman said. “They’ll say, ‘No, we don’t want that to happen,’ and we can do things that are not draconian, not socialist, but in the American tradition to limit that rising inequality.”

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Paul Robin Krugman (born February 28, 1953) is an American economist, Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, Distinguished Scholar at the Luxembourg Income Study Center at the CUNY Graduate Center, and an op-ed columnist for The New York Times.[2][3] In 2008, Krugman won the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. According to the prize Committee, the prize was given for Krugman's work explaining the patterns of international trade and the geographic concentration of wealth, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.
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Destroy Greed

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