Dante Reawakened
Lifer
- May 4, 2022
- 9,126
- 4,501
- 208
- Banned
- #1
Paul does it again! Gotta love this guy. A true genius. Not one self-described
The truth is that ever since the New Deal, Rural America has received special treatment from policymakers. It’s not just farm subsidies, which ballooned under President Donald Trump to the point where they accounted for around 40 percent of total farm income. Rural America also benefits from special programs that support housing, utilities and business in general.”
Krugman points out that although rural areas of the United States have some legitimate complaints — poverty, job losses — those areas “disproportionally benefit” from “major federal programs” because they “have a disproportionate number of seniors receiving Social Security and Medicare.”
“Because rural America is poorer than urban America,” Krugman observes, “it pays much less per person in federal taxes. So, in practice, major metropolitan areas hugely subsidize the countryside. These subsidies don’t just support incomes, they support economies…. What about rural perceptions of being disrespected? Well, many people have negative views about people with different lifestyles; that’s human nature.”
Paul Robin Krugman (/ˈkrʊɡmən/ (listen) KRUUG-mən;[4][5] born February 28, 1953)[6] 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.[7] In 2008, Krugman was the winner of the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography.[8] 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.
MSN
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