(Krugman 2011) Graduates versus oligarchs


Krugman, Paul. Graduates versus oligarchs [Internet]. New York Times. 2011 Nov 1. Available from: http://krugman.blogs.nytimes.com/2011/11/01/graduates-versus-oligarchs/. Accessed 2012 Mar 9. Archived by WebCite at http://www.webcitation.org/662ynFKM5.

Using data from the Congressional Budget Office (CBO), Krugman shows that since 1979 the income share gains of the top 20% (by income) in the USA have been accounted for entirely by the top 1%. Krugman concludes that increasing inequality cannot be due to differences in income between college graduates versus non-graduates, since the fraction of graduates is much higher than 1%.

 

 

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Last revision: April 5, 2013