Evening Must-Read: Paul Krugman (1992): The Rich, the Right, and the Facts

Paul Krugman: Inequality 1992: “I happened to notice Greg Mankiw…

…citing some bogus claims that the one percent is an ever-changing group, not a persistent elite, and I thought ‘Wait–didn’t we deal with that one long ago?’ And that brought to mind the piece I wrote for the American Prospect 22 years ago, ‘The rich, the right, and the facts.’ (It doesn’t say this on the Prospect site, but it was indeed published in 1992). See the section on income mobility.

The truth is that inequality denial is largely a crusade of cockroaches–the same bad arguments just keep coming back. Oh, and I do think that my old piece looks surprisingly contemporary. In particular, I was focused on the one percent even then. http://prospect.org/article/rich-right-and-facts-deconstructing-income-distribution-debate

AUTHORS:

Brad DeLong

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