The spiral of inequality
If calling America a middle-class nation means anything, it means that we are a society in which most people live more or less the same kind of life. In 1970 we were that kind of society. Today we are not, and we become less like one with each passing year.
- Read the raging response by Jude Wanniski, founder of supply-side economics and Jack Kemp's long-time economic guru.
Ever since the election of Ronald Reagan, right-wing radicals have insisted that they started a revolution in America. They are half right. If by a revolution we mean a change in politics, economics, and society that is so large as to transform the character of the nation, then there is indeed a revolution in progress. The radical right did not make this revolution, although it has done its best to help it along. If anything, we might say that the revolution created the new right. But whatever the cause, it has become urgent that we appreciate the depth and significance of this new American revolution -- and try to stop it before it becomes irreversible.
The consequences of the revolution are obvious in cities across the nation. Since I know the area well, let me take you on a walk down University Avenue in Palo Alto, California.
Palo Alto is the de facto village green of Silicon Valley, a tree-lined refuge from the valley's freeways and shopping malls. People want to live here despite the cost -- rumor has it that a modest three-bedroom house sold recently for $1.6 million -- and walking along University you can see why. Attractive, casually dressed people stroll past trendy boutiques and restaurants; you can see a cooking class in progress at the fancy new kitchenware store. It's a cheerful scene, even if you have to detour around the people sleeping in doorways and have to avoid eye contact with the beggars. (The town council plans to crack down on street people, so they probably won't be here next year, anyway.)
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abortion is a woman's right
abortion is a woman's right to choose any man can have his comment but the woman is the one who has the resposibility
The Spiral of Inequality, Paul Krugman, November 1, 1996
Don't underestimate the power of an economist to change thinking.
Muhammad Yunus suggested an appropriate economic measure to be the average income of the poorest 35% of the people.
If an economist were to begin to actually measure this and report it, and evaluate policy proposals in its light, it could be a powerful antidote to the wealth-worship that poisons our national character.
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.--John Maynard Keynes
Tom Worley
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