Friday, January 2, 2015

Krugman on Inequality, Again

Professor K finds more evidence from another source. The point, however, remains pretty much the same: if you're not rich, you're screwed.

Incomes have grown slowly, if at all, for people around the 20th percentile of the world income distribution. Who are these people? Basically, the advanced-country working classes. And although [the] data only go up through 2008, we can be sure that this group has done even worse since then, wracked by the effects of high unemployment, stagnating wages, and austerity policies.

No comments: