Friday, February 14, 2014

Effects of Inequality

Krugman points to interesting research that shows mere affluence can make your opinions more conservative. Lottery winners become less interested in income equality.  In other research, Krugman notes that austerity produces more income inequality.  The rich care less and less about the unfortunate even when their riches are unearned.  And the austerity policies supported by the rich, makes them richer and everyone else poorer.

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