An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Friday, February 14, 2014
Paul Krugman — Redefining the Middle Class
Krugman talks about class. Next thing you know, he'll be talking about power, or maybe — gasp — even money.
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.
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.
ReplyDeleteToday Krugman has a very interesting posting praising Tobin's "endogenous money view".
ReplyDeleteSlowly but surely he's coming round to the right paradigm.