Saturday, March 3, 2012

Money and Morals

http://www.nytimes.com/2012/02/10/opinion/krugman-money-and-morals.html?scp=9&sq=income%20distribution&st=cse

The article discusses how the Congressional Budget Office supplied data on the widening income gap, which has produced more conversations about inequality in the United States. In comparison to other rich countries, the United States is the place where economic and social status is most likely to be inherited. The main disagreement with inequality is whether it is about morals or money. People who say that the problem is morals explain how there have been a decrease in the working-class family values. On the other hand, people who say that the problem is money explain how many Americans have a high school education or less, marriage rates and male labor force participation have decreased, and births out of wedlock have increased. The article discusses how these negative aspects of Americans cause terrible implications for the society as a whole. Also, one obvious answer for these negative aspects of Americans includes the decrease in the work opportunities available to less-educated Americans. Due to the decrease in employment benefits, health benefits, and entry-level wages for lower-education working Americans, the United States has become a society in which less-educated Americans have a hard time finding jobs with decent wages and good benefits. Therefore, the social changes that have taken place in America’s working classes are the consequence of rising inequality, but not the reason for it.             

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