NYT: Money and Morals

Photo by: Fred R. Conrad, NYT

 

 

 

 

 

 

 

 

 

“Lately inequality has re-entered the national conversation. Occupy Wall Street gave the issue visibility, while the Congressional Budget Office supplied hard data on the widening income gap. And the myth of a classless society has been exposed: Among rich countries, America stands out as the place where economic and social status is most likely to be inherited….

In a New York Times OP-ED titled, Money and Morals, Paul Krugman discusses the rising income gap in the United States, and the respective roles that money and morals play in the increase of that gap.

He concludes:

“[W]e should reject the attempt to divert the national conversation away from soaring inequality toward the alleged moral failings of those Americans being left behind. Traditional values aren’t as crucial as social conservatives would have you believe — and, in any case, the social changes taking place in America’s working class are overwhelmingly the consequence of sharply rising inequality, not its cause.”

See, Paul Krugman, Money and Morals, New York Times (February 9, 2012).