Why Inequality Matters – Article Example
Why Inequality Matters I do agree with Krugman that inequality is one of the biggest problems facing the country. It has played a very big role in creating the economic crisis that the country is facing and it goes on to ensure that restoring the country to economic prosperity is difficult. Though most people should be more concerned about the worsening economic situation in the country, inequality has been on the rise, so much that it is as much an area of concern as is the economy of the country.
The subject matter is clearly conveyed as Krugman notes that during the Great Recession, there was a shift of income away from the middle class to a small elite group, creating a drag on consumer demand. The recovery afterwards was not great enough to completely solve this crisis. Thus, inequality is directly linked to the economic crisis. Krugman clearly shows that rising economy has become a big, single factor behind the lagging of the middle class incomes. Krugman also clearly depicts the role of politics in creating inequality in the country and talks of the pre and post crisis policies showing how important they were in the destruction of equality.
The extent of inequality is further proved by the elite few considering budget deficits a crucial issue and maintaining that big cuts in safety net programs are the way to go. Inequality has been an issue for many years now and instead of being solved, it has continued to rise over the years, its effects felt more on the middle class and poor Americans. I would be interested in reading other articles by Krugman as he clearly and factually puts down his work.