Monday, February 23, 2015

Is Rising Inequality Due To The Inequality Of Knowledge?

The Hamilton Project takes the position that the pace of technological change has been more rapid than pace of advancement in education and/or entrepreneurship.  It argues that rising inequality can be addressed by increasing access to a higher quality education that provides the scientific and mathematical skills that are in demand; it would also provide the entrepreneurial skills that are required to transform new technologies into business opportunities.

Paul Krugman believes that providing more people with education is a good thing.  However, he does not accept the implication that income inequality is a function of the maldistribution of knowledge. He takes the position that it is more closely related to the distribution of power.  That is the last thing that most "serious people" want to deal with.  It is much easier to blame the education system for our problems and to divert attention from our real problems.  He joins Larry Summers in arguing that we need to focus our attention on the unequal distribution of power in our society.

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