Let Them Eat Cake

The Economist (one of my favorite publications) ran an article Dec.22 disputing Paul Krugman’s contention that the wealth gap is worse now than it was in the “Gilded Age” of the robber barons. They didn’t quibble with Krugman’s numbers; their point is that the lifestyles of the poor are now much closer to those of the rich. Both have cars, television sets, and refrigerators; both eat meat and milk – whereas a century ago the poor were on foot and without meat. Following is a letter to the editor of the Economist.

Sir

Your article on the wealth gap — “The New (Improved) Gilded Age”– is the 21st century version of “Let them eat cake.” I hope you’re right that lifestyles of the poor are closer than ever to those of the rich even though the income gap is growing wider. This will relieve the consciences of us progressives because it means that when we finally confiscate the obscene wealth of the billionaires, they can continue to live quite well.

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