05/04/2012 08:21 am ET

Paul Krugman: Inequality A 'Major Reason' The Economy Is Still Depressed

Before the Great Recession, I would sometimes give public lectures in which I would talk about rising inequality, making the point that the concentration of income at the top had reached levels not seen since 1929. Often, someone in the audience would ask whether this meant that another depression was imminent.

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