Paul Krugman Quotes
A person should not have a second class life because he chose the wrong parents.
Paul Krugman, Economist & Political Columnist, Nobel Laureate in Economics, Speech, June 2, 2007
Sourced by: Eigen's Political and Historical Quotations
His argument is that the children of the wealthy tend to become rich, not by inheriting money from their parents but by culturally and educationally becoming assimilated to and skilled at the language and norms of business and capitalism. There is a great deal of evidence to support this, however there is a political split between those who argue that inheritance taxes will do little or no good in producing equal opportunity for children of wealthy and poor parents. Therefore, abolish the tax. Others argue that the tax is needed to make up for the differential capability at money making as the funds could be used to provide better training for the children of the poor.
He was reacting to the racial claims of Adolph Hitler in German
Paul Robin Krugman is an American economist who is the Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times. In 2008, Krugman was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.
