Welcome

Anti Essays offers essay examples to help students with their essay writing.

Sign Up

Confronting Income Inequality Essay

Open Document

Below is an essay on "Confronting Income Inequality" from Anti Essays, your source for research papers, essays, and term paper examples.

Confronting Income Inequality - NYTimes.com

http://www.nytimes.com/2010/10/17/business/17view.html?_r=2&sq=...

Reprints
This copy is for your personal, noncommercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers here or use the "Reprints" tool that appears next to any article. Visit www.nytreprints.com for samples and additional information. Order a reprint of this article now.

October 16, 2010

By ROBERT H. FRANK

PEOPLE often remember the past with exaggerated fondness. Sometimes, however, important aspects of life really were better in the old days. During the three decades after World War II, for example, incomes in the United States rose rapidly and at about the same rate — almost 3 percent a year — for people at all income levels. America had an economically vibrant middle class. Roads and bridges were well maintained, and impressive new infrastructure was being built. People were optimistic. By contrast, during the last three decades the economy has grown much more slowly, and our infrastructure has fallen into grave disrepair. Most troubling, all significant income growth has been concentrated at the top of the scale. The share of total income going to the top 1 percent of earners, which stood at 8.9 percent in 1976, rose to 23.5 percent by 2007, but during the same period, the average inflation-adjusted hourly wage declined by more than 7 percent. Yet many economists are reluctant to confront rising income inequality directly, saying that whether this trend is good or bad requires a value judgment that is best left to philosophers. But that disclaimer rings hollow. Economics, after all, was founded by moral philosophers, and links between the disciplines remain strong. So economists are well positioned to address this question, and the answer is very clear. Adam Smith, the father of modern economics, was a professor of moral philosophy at the University of Glasgow. His first book,...

Show More


Citations

MLA Citation

"Confronting Income Inequality". Anti Essays. 13 Dec. 2018

<http://cassandralynndesignllc.com/free-essays/Confronting-Income-Inequality-74953.html>

APA Citation

Confronting Income Inequality. Anti Essays. Retrieved December 13, 2018, from the World Wide Web: http://cassandralynndesignllc.com/free-essays/Confronting-Income-Inequality-74953.html