The United States in the 1990s has had seven years of economic boom with low unemployment, low inflation, and low government deficit. Amid all of this good news, inequality has increased and wages have barely risen. Common sense knowledge seems to be right in this instance, that is, the rich get richer, the poor get poorer, and the middle class is shrinking. Though President Clinton boasts that the number of people on welfare has decreased significantly under his regime to 8 million, a 44% decline from 1994, he forgets that there are still 36.5 million poor people in the United States, which is only a 2% decline in the same amount of time. How is it possible that we have increasing inequality during economic prosperity
This contradiction is not easily explained by the dominant neoclassical economic discourse of our time. Nor is it resolved by neoconservative social policy. More helpful is the one book under review: James K. Galbraith’s Created Unequal, a Keynesian a
A. is devoted to analyzing why economic boom usually goes with wage inequality
B. reviews the dominant neoclassical economic discourse of our time
C. recommend resolving the present problem by neoconservative social policy
D. attributes the present increasing wage inequality to several factors
In 1830, only a few miles away from what is now the great city of Cincinnati, lay an immense and almost unbroken forest. The whole region was sparsely settled by people of the frontier—restless souls who no sooner had hewn fairly habitable homes out of the wilderness and attained to that degree of prosperity which today we should call indigence, then, impelled by some mysterious impulse of their nature, they abandoned all and pushed farther westward, to encounter new perils and privations in the effort to regain the meagre comforts which they had voluntarily renounced. Many of them had already forsaken that region for the remoter settlements, but among those remaining was one who had been of those first arriving. He lived alone in a house of logs surrounded on all sides by the great forest, of whose gloom and silence he seemed a part, for no one had ever known him to smile nor speak a needless word. His simple wants were supplied by the sale or barter of skins of wild anima
A. hallucinating.
B. exhilarating.
C. unconscious.
D. judicious.
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