Why Inequality Matters

16 December 2013 |permalink | email article

Paul Krugman notes that it does matter. But politicians, intimidated by crises of “class warfare,” have shied away from making a major issue out of the evergrowing gap between the rich and the rest. That may, however, be changing. We can argue about the significance of Bill de Blasio’s victory in the New York mayoral race or Elizabeth Warren’s endorsement of Social Security expansion. And we have yet to see whether President Obama’s declaration that inequality “is the defining of our age” will translate into policy changes. Still, the discussion has shifted enough to produce a backlash from pundits arguing that inequality isn’t that big a deal. They’re wrong. The best argument for putting inequality on the back burner is the depressed state of the economy.

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