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Archive for January 15th, 2012

Call it Math, Not Envy

If Americans are upset about the growing gap between the ultra-rich and everyone else, maybe it proves we’re not mathematics-deficient after all. 

"The rise in inequality in the United States over the last three decades has reached the point that inequality in incomes is causing an unhealthy division in opportunities, and is a threat to our economic growth. Restoring a greater degree of fairness to the U.S. job market would be good for businesses, good for the economy, and good for the country."

Alan B. Krueger, President Obama’s Chairman of the Council of Economic Advisers, January 12, 2012

income growth by quintile 1979-2007

from the NY Times, January 12, 2012

http://graphics8.nytimes.com/images/2012/01/12/opinion/011212krugman1/011212krugman1-blog480.jpg

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