At 08:54 AM 8/18/97 -0700, Louis Proyect wrote: >August 18, 1997 > >EDITORIAL NOTEBOOK / By MICHAEL M. WEINSTEIN > >Dr. Doom Becomes Dr. Pangloss > [SNIP] > >I have to admit, however, that an alternative explanation of these figures >strengthens the canard that economists know the price of everything and the >value of nothing. > >Economists take solace from the numbers: average incomes are rising. But >because of soaring inequality that concentrates winnings in relatively few >hands, many families see little or none of the gain. The economists are >right on the numbers, but the families may be right on the facts. Could it be that most economists just happen to be on the economically better-heeled end of that bi-polar income/wealth distribution? Naw!!! Must have been a glitch in the computer or in survey construction or maybe sampling bias. > >O.K., so we may have made another mistake. At least this time, we are the >ones who are smiling. All the way to the bank!
