Have I said it recently? Paul Krugman says some very idiotic things. True, he won a Nobel Prize in economics for his work concerning the impact of international trade. Nevertheless, when it comes to what he puts in his column, most of it is idiotic. Krugman's latest effort is no different than those which came before. Krugman actually says this:
Today’s America is a place where everyone claims to support equality of opportunity, yet we are, objectively, the most class-ridden nation in the Western world.
The most class ridden nation in the Western world? Is he kidding? Amazingly, he cites as support for this claim a paper that projects the effects of the wealth of the top 1% of earners on the future prospects of their children. In other words, the children of the extremely wealthy are more likely to be wealthy than the children of the very poor. Really? And this makes America "class-ridden"?
All that Krugman is actually saying is that children are more likely to succeed in life if they have a good education, parents who care about them and train them with good work habits. Remember, the extremely poor in this country with jobs are often single parents who do not have the luxury of spending time with their children. Many of the extremely poor without jobs have substance abuse problems or are in prison. This is not to say that all of the poor are like this, but there surely is a much higher percentage of poor folks with these problems than extremely rich folks. Rich single parents can hire a nanny to care for the children, a luxury that the very poor could never even consider. So, is it any wonder then that the children of the ultra rich are likely to do better than the children of the ultra poor?
None of this means that America is "class-ridden", however. Think about the ultra rich in our society. Bill Gates did not come from a very rich family. Warren Buffett did not either. Sam Walton started Walmart without big family money. In fact, nearly all of the rich earned their money rather than inheriting it. Even those like Donald Trump who started with money then multiplied their inheritance a hundred fold.
The truth is that any American has the possibility to move into the wealthiest segment of society. It does not come easily, however. It takes hard work, skill and luck. But any American can do it. This is not some myth; it is reality, even in the age of Obama when government connections are, perhaps, the best indicator of future success.
The next time you read Krugman and he uses the word "objectively", I suggest that you beware. What follows is likely anything but objective and is liable instead to be the usual Progressive mantra about the "victims" of American society.
Today’s America is a place where everyone claims to support equality of opportunity, yet we are, objectively, the most class-ridden nation in the Western world.
The most class ridden nation in the Western world? Is he kidding? Amazingly, he cites as support for this claim a paper that projects the effects of the wealth of the top 1% of earners on the future prospects of their children. In other words, the children of the extremely wealthy are more likely to be wealthy than the children of the very poor. Really? And this makes America "class-ridden"?
All that Krugman is actually saying is that children are more likely to succeed in life if they have a good education, parents who care about them and train them with good work habits. Remember, the extremely poor in this country with jobs are often single parents who do not have the luxury of spending time with their children. Many of the extremely poor without jobs have substance abuse problems or are in prison. This is not to say that all of the poor are like this, but there surely is a much higher percentage of poor folks with these problems than extremely rich folks. Rich single parents can hire a nanny to care for the children, a luxury that the very poor could never even consider. So, is it any wonder then that the children of the ultra rich are likely to do better than the children of the ultra poor?
None of this means that America is "class-ridden", however. Think about the ultra rich in our society. Bill Gates did not come from a very rich family. Warren Buffett did not either. Sam Walton started Walmart without big family money. In fact, nearly all of the rich earned their money rather than inheriting it. Even those like Donald Trump who started with money then multiplied their inheritance a hundred fold.
The truth is that any American has the possibility to move into the wealthiest segment of society. It does not come easily, however. It takes hard work, skill and luck. But any American can do it. This is not some myth; it is reality, even in the age of Obama when government connections are, perhaps, the best indicator of future success.
The next time you read Krugman and he uses the word "objectively", I suggest that you beware. What follows is likely anything but objective and is liable instead to be the usual Progressive mantra about the "victims" of American society.
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