Gaps

Megan McArdle does a nice job of aggregating Krugman's and Cowen's comments on the "1950's Kitchen" concept and then expanding on the theme in an insightful way:


Taken with two recent-ish posts at the Café, we have a nice little troika of comments on the concepts of "rich" and "poor."

Drew and I had a lively discussion on this one a few months back, which he may or may not let me adapt for a post here.  Not Worrying About "Unequal" Wealth 'Distribution', which - for me, anyway - concisely sums up why the difference between the richest American's wealth and the poorest American's poverty is nearly (if not entirely) irrelevant.

Then, in Do Only the Rich Get Richer?,  Don Boudreaux points out how many well-known American entrepreneurs come from humble beginnings, and speculates that this is true of the vast majority of entrepreneurs across time and political borders.