Tuesday, June 24, 2014

Mankiw vs. Krugman on Inherited Wealth

Both Greg Mankiw and Paul Krugman have commentaries out at NYT on inherited wealth. Mankiw defends inherited wealth Krugman responds by arguing against it.

Mankiw wins the debate by far.

Mankiw is here: How Inherited Wealth Helps the Economy

Krugman is here: Sympathy for the Trustafarians

BTW, as I have pointed out before, John Maynard Keynes was in favor of inequality and large capital accumulations, which would put him in the Mankiw camp. See: What Would Keynes Say About Thomas Piketty?



    1. Rand had a big chunk of cray-cray in her head, but DAMN if that woman couldn't turn a phrase and be incisively insightful!

    2. change the monetary unit and we'll see who's wealthy.....


  2. If inherited wealth is bad, Krugman should give me a large portion of his while he is still alive so his heirs don't get it. I'll even promise to spend it as fast as I can.