Bob Cropf

Inequality versus poverty

In economics, poverty on February 16, 2009 at 5:53 AM

We will be discussing economic inequality very soon in class. In 1999, Martin Feldstein, former senior economic advisor to Reagan, wrote this essay for the neo-conservative journal, The Public Interest. In it he argues that the problem is not inequality of income but poverty. Fundamentally, he believes that more inequality is not a bad thing if, at the same time, we can reduce the poverty rate. Whether one agrees or not with his premise, the essay is intelligently written and covers the fundamental aspects of economic inequality from Gini co-efficients to mismeasuring poverty to lack of earning ability and individual choice. I suggest this would be a good thing to read as we ponder Okun and Sen in class.


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