I mentioned “income gaps a couple weeks ago”:http://www.end-on-end.com/txp/2007/10/12/politico-links-o-the-day… and “Krugman has an astonishing quote in a recent interview with Mario Cuomo”:http://www.guardian.co.uk/usa/story/0,,2201555,00.html.
bq.. Cuomo: I was interested especially in education, where I think it’s very possible for people to say, look, one out of four of our workers are high-skilled, which is roughly four years after high school, and that’s one of the big problems. This is a high-skill society, etc, etc, and you don’t eliminate that as – of course, but then you diminished it a bit and are maybe saying too much about skill level and education.
Krugman: Yeah, by all means. But the huge increase in income gaps has occurred actually within people with a college education or equivalent. The high school teachers and hedge fund managers tend to have roughly similar levels of education actually, but the highest paid hedge fund manager in America was paid enough last year to pay the salaries of all 80,000 New York school teachers for five years. [Laughs] So that’s telling you something about where we really are.
p. Exactly. It says a lot about inequality and where the priorities are in Washington and the economy.
Related posts:
- What Boom?
- You have to be kidding? Now they are attacking education.
- Krugman on the Return of Depression Economics
- Krugman on the faux social security crisis
- More Krugman Goodness
Tags: economics, income, income gaps, krugman, ny times
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