Paul Krugman Confronting Inequality Summary

1158 Words5 Pages
Kaitlyn Johnson
English, 008
September 29, 2015
Inequality
Inequality has been a major problem all over the world. Not just with race or gender, but now ones' income puts them aside from others. and they are catorgarized. Gary S. Becker, a Noble laurete in economics, and Kevin M. Murphy, a professor at the University of Chicago and a recipient of a 2005 MacCrthur "genius" fellowship, believe that a higher education equals higher income. Paul Krugmam, a teacher of economics at Princeton and the city University of New York, uses people who have had an impact on America. They all make decent points towards income inequality, and inequality as a whole. Becker and Murphy believe that if a higher education will give you a higher income, although education after high school is expensive, the returns are worth it. Even though statistics prove that Becker and Murphy's theory is correct, Krugman believes that the living standards are important and shouldne be jepordized, because of an education. Paul Krugman in “Confronting Inequality” attempts to explain how bad inequality is and the things that can bring inequality to high or low levels. He gives reasons of why he and Americans should care about the increase in inequality.
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Throughout his article, he speaks about education. “The Upside of Income Inequality” makes two basic points to support the conclusion noted in the title of the article. First, the correlations between educationa and income; that the value of a college education has risen as income inequality has risen. And second, that therefore the rate of Americans who attend college has increased. The article provides multiple graphs that correlate different principles with education and income. The main point they make is higher education equals higher income. Becker and Murphy point out the difficulties in paying for college, but they look at the returns being worthy
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