Income Inequality Is Still the Bane of the Elite
Don Luskin points out the latest salvo fired by class warrior David Cay Johnston at the NYTimes. Luskin correctly dissects the complete lack of balance in the presentation of the data and the resulting interpretation. (In fact, it was Luskin's blog that inspired me to focus this blog, in part, on the me-too shenanigans at Bloomberg News.)
But back to Johnston. Let me offer up an alternate view by someone at least as credible/worthy as Saez/Piketty or the CBPP guy, 2006 Nobel laureate Edmund Phelps:
"I am not ready to condemn an economy on the evidence of inequality, especially where the poor are constantly doing better."
More here, here, and here.
On a related note, I can't believe those silly, ridiculous Haitians who landed on our shores the other day after sailing here in a rickety sloop. I mean, don't they know that we have income inequality in America!
But back to Johnston. Let me offer up an alternate view by someone at least as credible/worthy as Saez/Piketty or the CBPP guy, 2006 Nobel laureate Edmund Phelps:
"I am not ready to condemn an economy on the evidence of inequality, especially where the poor are constantly doing better."
More here, here, and here.
On a related note, I can't believe those silly, ridiculous Haitians who landed on our shores the other day after sailing here in a rickety sloop. I mean, don't they know that we have income inequality in America!
posted by Donny Baseball at 9:58 AM
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