NYT Income Inequality Extravaganza
futureofcapitalism.com

There must have been some kind of memo at the New York Times — not that one was needed — to gin up a Christmas-weekend campaign about income inequality.

Example No. 1. is a Frank Rich column yearning for 1956: "economic equality seemed within reach in 1956, at least for the vast middle class."

Or, if not 1956, then at least sometime before "the 1970s": "How many middle-class Americans now believe that the sky is the limit if they work hard enough? How many trust capitalism to give them a fair shake? Middle-class income started to flatten in the 1970s and has stagnated ever since."

Or, if not sometime before the 1970s, maybe 1982?: "nearly a quarter of the 400 wealthiest people in America on this year's Forbes list make their fortunes from financial services, more than three times as many as in the first Forbes 400 in 1982."

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NYT Income Inequality Extravaganza
futureofcapitalism.com

There must have been some kind of memo at the New York Times — not that one was needed — to gin up a Christmas-weekend campaign about income inequality.

Example No. 1. is a Frank Rich column yearning for 1956: "economic equality seemed within reach in 1956, at least for the vast middle class."

Or, if not 1956, then at least sometime before "the 1970s": "How many middle-class Americans now believe that the sky is the limit if they work hard enough? How many trust capitalism to give them a fair shake? Middle-class income started to flatten in the 1970s and has stagnated ever since."

Or, if not sometime before the 1970s, maybe 1982?: "nearly a quarter of the 400 wealthiest people in America on this year's Forbes list make their fortunes from financial services, more than three times as many as in the first Forbes 400 in 1982."

Read More...