Thursday, March 18, Summary 9 Paul Krugman, in his article Confronting Inequality, explains how and why large differences between wages of the wealthy and the poor are a problem. Today, America's middle class is overextending themselves in an effort to give their children more opportunities Many middle class citizens are purchasing homes that they can't afford, so that their kids will be attending a good school so that their children can have more opportunities This shows the growing gap between the wealthy and the poor. Robert Frank reports that the rich are creating their own world, away from the middle class and the poor, which supports Krugman's thesis that there is a growing difference in social equality, which is being caused by the gap between wealth.
Inequality exists throughout America and can be seen every day.
Most commonly seen is the wealth gap between the rich and the poor and the dramatic difference between their incomes.
The question is what causes this economic inequality between the rich, also known as the upper one percent, and the poor, the working class and what is the solution to decreasing the wealth gap.
In this paper, I will discuss some of the main points of disagreement on what causes income inequality between these three texts.
I will also discuss the different claims made about the solutions to income inequality. Lastly, I will discuss what I believe to be the most successful of the three positions and why it is the most convincing as to what the real cause and solution is to income inequality.
This position believes that all inequalities are due to detachment from core values. The upper and lower class have become separate due to their differences in lifestyles. With this cultural problem, changing government programs and regulations will not make a difference.
Individual American families need to begin acting in their own interests and the interests of their children. The lower class needs to reinforce the validation of the values and standards they continue to uphold while the upper class needs to reevaluate their priorities.
For their own sakes. Another idea is that income inequality is directly correlated to social inequality and political inequality. Inequality has been caused by corruption of politics, meaning the people at the top have enough money to influence government.
The factors that have caused inequality to rise are tax cuts on the top earners in America and the lack of healthcare for poor and middle class families.
To close the gap of social classes, Krugman suggests we end tax cuts, revitalize unions, and increase minimum wages. Krugman believes that, in order to solve inequality, America needs to implement healthcare reform to the point of universal healthcare. Political corruption leaves the middle class forgotten about.
Another idea is that there really is no inequality problem. The first problem is the growing wealth of the top five percent workers and the second different problem is the growing class of poorer people stuck in the margins.
He disagrees that raising the minimum wage will have any affect on the poverty rates. Another cause of this problem is we tend to simplify all complex cultural, social, behavioral, and economical problems into strictly economical problems. There is a strong correlation between these problems but they are not the cause of inequality.
Lastly, Brooks believes the income inequality language introduces a class conflict element to the discussion and polarizes the debate.
Democrats and Republicans disagree on class conflict, but share some common beliefs on the human capital problem, so they should begin there to start forming a resolution. Instead, the solution to the problem is to focus on the real issues at hand, which are bad schools, no jobs for young men, broken families, and neighborhoods without mediating institutions.
I believe the most successful in conveying the most accurate cause and solution to the problem was David Brooks.
Paul Krugman, a New York Times columnist and Economics professor at Princeton University, wrote the article “Confronting Inequality”. In this article, he explains why people should care about income and social inequality that has reach the Gilded Age levels. In his article “Confronting Inequality” Paul Krugman is asserting the fact of high socioeconomic inequality in the United States, while demonstrating its consequences and the variety of statistic evidences upon it. Paul Krugman in “Confronting Inequality” tries to explain how bad inequality is and the things that can bring inequality up or down. He gives reasons of why he and Americans should care about the rising inequality.
I believe Brooks is correct when he says there are two separate problems because the poor and rich truly do have two different problems at hand. The strongest point for me in the article was the idea that raising the minimum wage will have no affect because the real problem is that those in poverty are most likely not working at all or too little hours, so the increase would not make much difference for them.
I believe he provided a realistic approach to solving the problem. Focusing on schools, families, and jobs are the three most important factors in improving the wealth gap in America."Confronting Inequality," pp.
, by Paul Krugman, originally published in his book, The Conscience of a Liberal. "America Remains the World's Beacon of Success," pp. , by Tim Roemer, available online through the Washington Post (January 20, ). In "Confronting inequality" Paul Krugman insists that we should reduce continuous inequality between those with low-incomes and those with high-incomes existing in the U.S., which affects our societies and our lives in many negative ways, although many of us believe.
Krugman quoted this from an article published in the Wall Street Journal called "Income Inequality Without Class Conflict" written by Irving Kristol. First of all, why did Krugman use this quote? Lets look at what he wrote after quoting Kristol. Paul Krugman in “Confronting Inequality” tries to explain how bad inequality is and the things that can bring inequality up or down.
He gives reasons of why he and Americans should care about the rising inequality. Facing Facts about Inequality “Confronting Inequality” is a chapter in Paul Krugman’s book, The Conscience of a Liberal.
|English Summary 9||He gives reasons of why he and Americans should care about the rising inequality.|
He asserts his view on inequality in America and how the income of Americans directly correlates with socioeconomic classes. Aug 27, · Confronting Inequality Response Paul Krugman in “Confronting Inequality” tries to explain how bad inequality is and the things that can bring inequality up or down.
He gives reasons of why he and Americans should care about the rising inequality. Krugman says, “One reason to care about inequality is the straight forward matter of living standards..