Fw: An Article From Slate

[Brad De Long]

>Brad laid out an alternative program:
>
>  And it's much
>>better to attack inequality at the national level with overall
>>minimum wage or EITC or (if you have a long-run view) education
>>subsidies...
>
>But why isn't the EITC (a reform first introduced by Reagan, no?) a
>transfer within the tax paying working class to the benefit of the low-wage
paying employing  class?

To some degree it is. But even so it ain't chopped liver (or at least 
Nada Eissa says she doesn't think it's chopped liver)...

Brad DeLong
-- 

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --
"Now 'in the long run' this [way of summarizing the quantity theory 
of money] is probably true.... But this long run is a misleading 
guide to current affairs. **In the long run** we are all dead. 
Economists set themselves too easy, too useless a task if in 
tempestuous seasons they can only tell us that when the storm is long 
past the ocean is flat again."

 
--J.M. Keynes
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --
J. Bradford De Long; Professor of Economics, U.C. Berkeley;
Co-Editor, Journal of Economic Perspectives.
Dept. of Economics, U.C. Berkeley, #3880
Berkeley, CA 94720-3880
(510) 643-4027; (925) 283-2709 phones
(510) 642-6615; (925) 283-3897 faxes
http://econ161.berkeley.edu/
<delong at econ.berkeley.edu>