Pages

Thursday, January 22, 2015

Middle Class Economic Progress Since 1980? The NY Times Authors Disagree with Each Other

The NY Times holds a diversified portfolio.  On page 3, I read an optimistic piece by David Leonhardt highlighting economic growth in Africa and the progress in their middle class' quality of life.  In the same front section, I read a pessimistic Opinion Piece by Nick Kristoff that since 1980 middle class life is going to hell in the United States.    A direct quote from Saint Nick;

"Since the end of the 1970s, something has gone profoundly wrong in America.

Inequality has soared. Educational progress slowed. Incarceration rates quintupled. Family breakdown accelerated. Median household income stagnated.

“It’s morning again in America” — that was a campaign slogan by President Ronald Reagan in 1984. But, in retrospect, the average American has been stuck since the Reagan era in a predawn darkness of stagnation and inequality, and we still haven’t shaken it off, particularly since 2000. Inequality has increased further under President Obama."

What can optimists point to that counters this gloom?

1. Life expectancy for all groups keeps rising.

2.  Crime is down sharply in U.S cities.

3.  Risk from airplane crashes, traffic fatalities keeps falling

4. Urban air and water pollution has fallen sharply.

5.  Smart Phones have diffused and the rise of the Internet have vastly increased social connection and entertainment opportunities. Does Nick Kristoff miss 8 track tape players and FM-radio filled with advertisements?

6. Relative to the year 1980, Minorities and immigrants have experienced a growth in their rights and respect they receive from other groups.

Turning to specific concerns stated in the OP-ED piece;

If the public schools stink, then does Mr. Kristoff endorse Milton Friedman's voucher approach?  Does he support legalizing drugs?  If poor kids had greater access to school choice and if drugs were legalized, what would these two policies do to "educational progress and incarceration"?    How would he rebuild the family?

Why is working age male labor market participation low?  What role will President Obama's health care plan play in affecting this?

How many people agree with Mr. Kristoff and would prefer to be young adults in 1970 versus young adults today? I doubt that many (any?) would be willing to trade places.