Another Way Of Looking At The Mankiw Defense of The Top 1%
Noah Smith provides a real life example to illustrate the problems in Greg Mankiw's defense of rising inequality. It doesn't take an economics degree, or expertise in statistics, to appreciate the problems in Mankiw's defense. His example shows why most people are upset by rising inequality. We shouldn't be too critical of Greg Mankiw, however. He is just doing his job. His argument will appeal to many of the trustees at Harvard and to conservative students who share his views.