Debunking the Claim that Inequality Fell After the Crisis

[Wolfhnd]

"A new paper by Stephen Rose of George Washington University that was picked up by the New York Times created a stir by claiming that inequality fell after the crisis. While the crisis proper did hit the well-off hard, and past accounts allow for that, a large range of analyses had found that income and wealth inequality rose after the crisis. That mean the Rose paper was potentially important, and even if not, it was useful to those who’d like to claim that the new normal is benign, even virtuous, so it has gotten quite a bit of attention."

 

http://www.nakedcapitalism.com/2015/03/debunking-claim-inequality-fell-crisis.html

 

 

 

This seems to be a topic of increasing interests so I thought I would share this article.