Krugman's article at http://www.nytimes.com/2002/10/20/magazine/20INEQUALITY.html is interesting. He has moved toward the view that the reason for increased inequality of incomes during the last 30 years is that societal norms that restricted inequality back in the 1950s and the 1960s were destroyed, and for no good purpose.
Interestingly, this is akin to the Bowles/Gordon/Weisskopf/Reich view that there was an "accord" (or better, a truce) between classes after WW2, as part of the "social structure of accumulation" that stabilized the economy in the 1950s & 1960s. That truce was broken. In some versions of that story, it was the working class that broke the truce, but that vision seems frightfully naive.
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Jim Devine jdevine@xxxxxxx & http://bellarmine.lmu.edu/~jdevine
- [PEN-L:31492] Re: Keen on road to debt deflation, Sabri Oncu Mon 21 Oct 2002, 21:28 GMT
- [PEN-L:31490] Labour studies hiring, phillp2 Mon 21 Oct 2002, 20:55 GMT
- [PEN-L:31488] RE: query: scarcity vs. surplus paradigms, Forstater, Mathew Mon 21 Oct 2002, 20:36 GMT
- [PEN-L:31487] query: scarcity vs. surplus paradigms, Devine, James Mon 21 Oct 2002, 20:02 GMT
- [PEN-L:31486] PK on growing inequality, Devine, James Mon 21 Oct 2002, 19:41 GMT
- [PEN-L:31484] Sergeant Shakespeare, Louis Proyect Mon 21 Oct 2002, 18:31 GMT
- [PEN-L:31485] Re: Sergeant Shakespeare, joanna bujes Mon 21 Oct 2002, 18:43 GMT
- [PEN-L:31491] Re: Sergeant Shakespeare--correction, Louis Proyect Mon 21 Oct 2002, 21:14 GMT
- [PEN-L:31483] RE: Autism on the rise, Devine, James Mon 21 Oct 2002, 18:28 GMT