That Old-Time Inequality Denial

By Paul Krugman, The New York Times

01 June 14

rad DeLong links to the now extensive list of pieces debunking the FT�s attempted debunking of Thomas Piketty, and pronounces himself puzzled:

I still do not understand what Chris Giles of the Financial Times thinks he is doing here�

OK, I don�t know what Giles thought he was doing � but I do know what he was actually doing, and it�s the same old same old. Ever since it became obvious that inequality was rising � way back in the 1980s � there has been a fairly substantial industry on the right of inequality denial. This denial didn�t rely on any one argument, nor did it involve consistent objections. Instead, it involved throwing many different arguments against the wall, hoping that something would stick. Inequality isn�t rising; it is rising, but it�s offset by social mobility; it�s cancelled by greater aid to the poor (which we�re trying to destroy, but never mind that); anyway, inequality is good. All these arguments have been made at the same time; none of them ever gets abandoned in the face of evidence � they just keep coming back.

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