Wednesday, July 26, 2006

Liberal media bias

Brad DeLong quotes Paul Krugman.

I'd like to say that there's a real dialogue taking place about the state of the U.S. economy, but the discussion leaves a lot to be desired. In general, the conversation sounds like this:

Bush supporter: "Why doesn't President Bush get credit for a great economy? I blame liberal media bias."

Informed economist: "But it's not a great economy for most Americans. Many families are actually losing ground, and only a very few affluent people are doing really well."

Bush supporter: "Why doesn't President Bush get credit for a great economy? I blame liberal media bias."

The data strongly suggests that US median wages have declined since 2001, but I'm not sure why that's happened. Is it entirely because of the Bush tax-cuts? Or are there other factors? It's certainly a cause for concern that income is getting increasingly concentrated at the upper-end of the income distribution i.e. most of the benefits have flowed to folks in the top 5%.

Labels:

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home