346. early Krugman
March 8, 2010 § Leave a comment
Helps me make a point.
In writing his first popular book, “The Age of Diminished Expectations,” he became preoccupied by the way that inequality had vastly increased in the Reagan years. (Interestingly for an economist, Krugman believes that the political often determines the economic, rather than the other way around; he believes that the increase in inequality in the U.S. since the sixties is a product less of economic factors—the development of technology, say, leading to the greater importance of skills and education—than of political decisions about taxation and unions.)
Note that he does not see that politicians passing laws is en economic reality through campaign financing and general ethos. They are not independent realms.