On 11/20/2012 11:00 PM, Jim Devine wrote: > I believe he's saying that we demean workers more and coddle the rich > more now than we did in the 1950s & 1960s, but the economy was more > prosperous (in real GDP growth terms) during that period than now. If > I remember correctly, the column was quite critical of the 1950s. >
Nevertheless, Krugman seems to imply that a return to higher taxes and higher wages would be compatible with a return to economic prosperity. He is generally unwilling to explore the argument that prosperity in 1950s and 1960s owes itself to the hegemonic power of the United States, and so made higher taxes and higher wages possible. I'm not sure that that possibility exists today, which leaves Krugman's argument a bit hollow. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
