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Oligarchs and the Rise of Mega-Fortunes. Paul Krugman, Understanding Inequality: Part IV - Stone Center on Socio-Economic Inequality

stonecenter.gc.cuny.edu · 3,384 words · saved by 1 readers

This is Part IV of Stone Center Senior Scholar Paul Krugman's series "Understanding Inequality," which originally appeared on his Substack newsletter. By Paul Krugman Share of the top 0.01% in total wealth, from the GC Wealth Project. Who said this? If there are men in this country big enough to own the government of the United States, they are going to own it; what we have to determine now is whether we are big enough, whether we are men enough, whether we are free enough, to take possession again of the government which is our own. No, it wasn't Bernie Sanders or Alexandria Ocasio-Cortez. It's a quote from The New Freedom, Woodrow Wilson's campaign platform in the 1912 presidential election. Wilson was a vile racist, even for his time, and his reputation has suffered appropriately. But he was also a progressive on economic policy. And I've always been struck by the fact that in the early 20th century a politician could declare that great concentrations of wealth were a threat to demo

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