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Mon Nov 19, 2012, 06:27 PM

Delusions of (Upward) Mobility - Paul Krugman

The stupidity of the right is taking on preternatural proportions......

http://krugman.blogs.nytimes.com/2011/11/18/delusions-of-mobility/
(emphases my own)
Greg Sargent sends us to Paul Ryanís latest ó an attempt to debunk the CBO report on income inequality. As usual, Ryan makes me think of Ezra Kleinís old line about Dick Armey: heís a stupid personís idea of what a smart person sounds like.

Greg gives us a thorough takedown by Tim Smeeding, who really really knows his inequality stuff. Iíd just add that Ryan repeats the familiar line about how we have vast income mobility, so that the picture given by static inequality comparisons is misleading.

But as Iíve pointed out, the CBO report itself takes that argument on and refutes it. Multi-year measures of inequality, it turns out, arenít much lower than single-year measures. How is that possible, when many people change income quintiles? Because theyíre usually moving short distances on the income scale. A lot of people move from, say, the top of the second quintile to the bottom of the third quintile or vice versa ó but such moves are trivial in terms of their true income position. Big moves, jumping more than one quintile, are much less common; yet itís those big moves people have in mind when they talk about ,mobility.

And in the end, Ryanís answer is that we need strong economic growth, the kind that we get by cutting taxes on the rich. Because thatís why the Clinton years were an economic disaster and the Bush years so prosperous.

10 replies, 1648 views

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Arrow 10 replies Author Time Post
Reply Delusions of (Upward) Mobility - Paul Krugman (Original post)
Bill USA Nov 2012 OP
Dubster Nov 2012 #1
1StrongBlackMan Nov 2012 #2
Bill USA Nov 2012 #3
1StrongBlackMan Nov 2012 #6
fasttense Nov 2012 #4
1StrongBlackMan Nov 2012 #7
fasttense Nov 2012 #8
Bill USA Nov 2012 #9
jsr Nov 2012 #5
Myrina Nov 2012 #10

Response to Bill USA (Original post)

Mon Nov 19, 2012, 06:40 PM

1. Spam deleted by gkhouston (MIR Team)

 

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Response to Bill USA (Original post)

Mon Nov 19, 2012, 06:51 PM

2. We do have economic mobility in this country ...

every month or so, someone when the Powerball or MegaMillions lotteries!

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Response to 1StrongBlackMan (Reply #2)

Mon Nov 19, 2012, 08:22 PM

3. if you can handle photo-shop a good picture to produce would be Ryan holding a

sign stating the Powerball jackpot with the Title on the picture something like: "Paul Ryan assures us there is upward mobility in the U.S." using one of those pics of Ryan smiling....

i don't know how to do it myself.

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Response to Bill USA (Reply #3)

Tue Nov 20, 2012, 09:48 AM

6. Sadly ...

I do not possess that skill. Maybe I'll task it to the techyish BabyGirl 1StrongBlackMan?

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Response to Bill USA (Original post)

Tue Nov 20, 2012, 06:22 AM

4. We no longer reward talent, ability and skill in America.

We reward luck.

You have to be lucky to be born to parents who give you millions of dollars to go to college on. You have to be lucky to be able to take your idea and shape it into a viable product that no one else is selling. You have to be lucky to get into just the right business that is prospering at the moment. You have to be lucky to be at the right place at the right time.

No amount of hard work and ability can replace dumb luck in the USA.

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Response to fasttense (Reply #4)

Tue Nov 20, 2012, 09:59 AM

7. While I agree ...

talent, ability and skill have lost much of their luster in America; I do not agree that you have to be lucky to make it here. If you have a product/service niche idea that you WORK HARD to bring to market, you will most likely be rewarded. Yes, luck does play a part, in terms of timing, and having a wealthy benefactor willing to fund one's education and product funding, helps; but both of these are of far less effect than one's willingness to work hard.

That said, what I see most rewarded in the current business environment is unscrupluous conduct; a willingness to exploit anyone and every advantage, without thought to what or who is hurt.

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Response to 1StrongBlackMan (Reply #7)

Tue Nov 20, 2012, 03:59 PM

8. Perhaps.

I've seen hard working, intelligent people attempt to bring a novel and useful product to market only to see them go under as someone with more wealth takes their ideas and puts it out before they do. Leaving the originators of the idea with very little business or profit. So, perhaps it was unscrupulous conduct. But if they had had better luck the unscrupulous businessman would not have noticed their product.

I've also seen lazy stupid people make a butt load of money off of useless items because they had tons of money to advertise it.

If hard work was all it took to be successful, then every Mexican would be wealthy. (this is NOT a jab at Mexicans. The OECD did a study that showed Mexicans were the hardest working population group http://www.realclearworld.com/2011/09/05/who_are_the_hardest_working_people_127372.html )

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Response to fasttense (Reply #4)

Tue Nov 20, 2012, 07:33 PM

9. "Don't forget to count us ass-holes"___D. Trump

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Response to Bill USA (Original post)

Tue Nov 20, 2012, 07:29 AM

5. Recommend

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Response to Bill USA (Original post)

Wed Nov 21, 2012, 11:19 AM

10. It's funny how they despise truly smart people (like POTUS, Al Gore and Bubba) ...

.... and idolize "handsome" idiots who can spout the right catchphrases every so often, as being 'smart and serious'.


Up is down.

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