Paul Krugman On Income Inequality
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Income Inequality
The rich, the middle class and the poor. These so-called "titles" are defining Americans today. What is income inequality and why is it a problem? Income inequality is the extent to which income is distributed in a population. In the United States, that gap between the poor and the rich has expanded immensely over the past ten years. Income inequality is a constantly debated topic today with different opinions and solutions; economists, writers, and politicians all have different views. For example, Paul Krugman and Robert Reich have different opinions than Maura Pennington. As people of different social status, religion, and political preferences view inequality differently, the solution is vastly different amongst these …show more content…
Reich says the solution to income inequality will be education, which will be the "saving grace" we so desperately need. While this may be true, Krugman believes there are other factors that play into the solution. Krugman qualifies Reich 's argument by stating education increases mobility, but it helps to have parents who are higher up in the social ladder. Essentially, Krugman is saying that yes, education does help to the solve income inequality crisis, but it is not solely what will break the boarders of inequality. However, Krugman does state the solution could be "moral suasion [because it] was effective in the past, and could be so again" (602). Krugman again proves to be more successful in his argument because he has a more logical solution. While both authors believe inequality is a problem and needs to be fixed, they have different solutions to the …show more content…
Krugman says, "Revitalizing unions should be a key progressive goal" to diminish inequality (601). He is explaining that we need organizations that will help the people and help them to be happy and affluent. Pennington does agree that we need to "establish stable institutions to empower people to be free and productive and they will prosper" (1). However, she believes unlike Krugman there is more than just this. She later writes, "Redistribution of a static supply of resources accomplishes nothing and makes no one richer" (Pennington 1). In addition to what Krugman writes, she agrees we need institutions, but not institutions that are going to give the poor money the rich have
Income Inequality
The rich, the middle class and the poor. These so-called "titles" are defining Americans today. What is income inequality and why is it a problem? Income inequality is the extent to which income is distributed in a population. In the United States, that gap between the poor and the rich has expanded immensely over the past ten years. Income inequality is a constantly debated topic today with different opinions and solutions; economists, writers, and politicians all have different views. For example, Paul Krugman and Robert Reich have different opinions than Maura Pennington. As people of different social status, religion, and political preferences view inequality differently, the solution is vastly different amongst these …show more content…
Reich says the solution to income inequality will be education, which will be the "saving grace" we so desperately need. While this may be true, Krugman believes there are other factors that play into the solution. Krugman qualifies Reich 's argument by stating education increases mobility, but it helps to have parents who are higher up in the social ladder. Essentially, Krugman is saying that yes, education does help to the solve income inequality crisis, but it is not solely what will break the boarders of inequality. However, Krugman does state the solution could be "moral suasion [because it] was effective in the past, and could be so again" (602). Krugman again proves to be more successful in his argument because he has a more logical solution. While both authors believe inequality is a problem and needs to be fixed, they have different solutions to the …show more content…
Krugman says, "Revitalizing unions should be a key progressive goal" to diminish inequality (601). He is explaining that we need organizations that will help the people and help them to be happy and affluent. Pennington does agree that we need to "establish stable institutions to empower people to be free and productive and they will prosper" (1). However, she believes unlike Krugman there is more than just this. She later writes, "Redistribution of a static supply of resources accomplishes nothing and makes no one richer" (Pennington 1). In addition to what Krugman writes, she agrees we need institutions, but not institutions that are going to give the poor money the rich have