Once again, conservative economists are carrying the water for the
evermore privileged economic elite. In a variety of venues, including The New York Times and here, they've tried to reassure us that rising
economic inequality is "beneficial and desirable" because it encourages
young people to go to college
This argument takes the conventional wisdom that economic inequality
results from gaps in education and skills-and drives it over the cliff.
For years, economists have conflated the growth of economic inequality
with increasing returns to education --...
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