Krugman Nails WSJ Pulitzer Winner For Misleading Inequality Claim - HuffPo [View all]

[WillyT]

Krugman Nails WSJ Pulitzer Winner For Misleading Inequality Claim
The Huffington Post | By Mark Gongloff
Posted: 01/02/2014 11:46 am EST | Updated: 01/02/2014 11:46 am EST

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Breaking news: The Wall Street Journal editorial page is full of it.

OK, that's not really news. But an unusually flagrant example of the WSJ editorial page's hogwash artistry caught the world's eye on Thursday, when New York Times columnist Paul Krugman pointed out several big problems with a column published this week by the WSJ's Bret Stephens. Krugman cited an earlier blog post from economist Miles Kimball, who first noted what he called the WSJs "analytical errors."

Stephens, who won the 2013 Pulitzer Prize for commentary, on Monday declared that the United States does not have an income inequality problem, but rather an envy problem. In other words, all of us Poors and Middles are merely jealous of those Riches who are constantly straining their trapezius muscles from nodding too vigorously when reading Stephens' columns. To prove his point, Stephens accused President Obama of misleading the public in a big speech last month about economic mobility and inequality.

"The top 10 percent no longer takes in one-third of our income -- it now takes half," Obama said in the speech.

Stephens declared this statement incorrect in several ways:

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The Rest: http://www.huffingtonpost.com/2014/01/02/krugman-wall-street-journal-inequality_n_4531338.html