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Krugman avoids the racial issue, but I suspect that is a major factor in the self-identification phenomena he discusses. Lower income whites often regarded themselves as "middle class" in the past because they believed the lower classes are exclusively the territory of black and brown people.
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Krugman avoids the racial issue, but I suspect that is a major factor in the self-identification phenomena he discusses. Lower income whites often regarded themselves as "middle class" in the past because they believed the lower classes are exclusively the territory of black and brown people.
Today Krugman has a very interesting posting praising Tobin's "endogenous money view".
Slowly but surely he's coming round to the right paradigm.
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