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Paul Krugman: Robots and Robber Barons

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At www.nytimes.com

It's fair to say that the shift of income from labor to capital has not yet made it into our national discourse. Yet that shift is happening -- and it has major implications. For example, there is a big, lavishly financed push to reduce corporate tax rates; is this really what we want to be doing at a time when profits are surging at workers' expense? Or what about the push to reduce or eliminate inheritance taxes; if we're moving back to a world in which financial capital, not skill or education, determines income, do we really want to make it even easier to inherit wealth?

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At www.nytimes.com


 

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