3 ms·
Krugman says nothing happened in the 1990s. I say the Internet happened. I also don't buy the argument that it is just social norms because income inequality
by bcheung 11y ago
Krugman says nothing happened in the 1990s.
I say the Internet happened.
I also don't buy the argument that it is just social norms because income inequality is more of a social speaking point now that it was back then and yet salaries continue to rise.
The graph seems to correlate with the rise of the Internet and the dot com crash fairly well. It also seems to correlate with monetary expansion, how well the economy was doing at the time, and the real estate markets. Not saying that is the reason but it seems a much better explanation than "society allowed it".