Pаul Krugmаns Fоr Richеr

PÐ °ul KrugmÐ °ns FÐ ¾r RichÐ µr Free Online Research Papers Th? study ?f th? p?litic?l ?c?n?my ?f ?m?ric? in th? r?c?nt yrs h?s br?ught ?b?ut c?ntr?dict?ry inf?r?nc?s, h?w?v?r ? c?mm?n thrd th?t wv?s thr?ugh th? p?litic?l ?c?n?mics lit?r?tur? is th?t th? rich ?r? g?tting rich?r f?st?r th?n th? pr ?r? g?tting rich?r. P?ul Krugm?n, pr?f?ss?r ?f ?c?n?mics ?t th? Univ?rsity ?f Princ?t?n ?nd th? m?st c?ntr?v?rsi?l p?litic?l ?c?n?mist in ?m?ric? during th?s? yrs, h?s ?ddr?ss?d this hyp?th?sis in ? h?st ?f ?rticl?s in his m?ny bks, n?wsp?p?r ?nd m?g?zin? ?rticl?s ?t ?l. In F?r Rich?r, th? first ?ss?y in ? N?w Y?rk Tim?s s?ri?s ?n cl?ss ?nd cl?ss w?rs in th? Unit?d St?t?s, P?ul Krugm?n invit?s th? rd?r’s ?tt?nti?n t? issu?s th?t th? lib?rt?ri?n ?c?n?mists ?ft?n ign?r? ?r f?il t? r?c?gniz? in th?ir disc?urs?s. H? pr?cl?ims th? dis?ppr?nc? ?f th? middl? cl?ss, illustr?t?s th? incrsing pr?bl?ms ?f inc?m? in?qu?lity ?nd plut?cr?cy, ?nd ?x?min?s th? ?ff?rts by ?c?n?mists ?s w?ll ?s g?v?rnm?nt instituti?ns t? c?ncl cl?ss c?mp?siti?n using st?tistic?l d?t?. Th? shifting p?r?digms ?f c?rp?r?t? ?x?cutiv? ?thics ?nd influ?nc? is y?t ?n?th?r t?pic discuss?d in th? ?ss?y. (Krugm?n, 2002) Whil? Krugm?n’s s?urc?s m?y b? limit?d ?nd ?v?n d?b?t?d, it p?ints t? c?rt?in ?ss?nti?l ?nd cruci?l s?ci?-p?litic?l ?nd ?c?n?mic issu?s pl?guing th? ?m?ric?n s?ci?ty. Th?t th? ?m?ric?ns ?r? pr?s?ntly living in ? n?w Gild?d ?g?, which is ?s ?xtr?v?g?nt ?s th? ?rigin?l, but with ? g?p b?twn th? v?ry rich ?nd th? r?st wid?ning f?st?r th?n ?v?r. Wh?t?v?r b? th? ?ll?g?ti?ns ?n P?ul Krugm?n, it is imp?rt?nt th?t th? issu?s ?r? ?ddr?ss?d ?nd ?ppr?pri?t? msur?s id?ntifi?d f?r th? citiz?ns ?nd g?v?rnm?nt t? ch?ng? th? difficult st?t? ?f things. Krugm?n’s ?n?lysis ?nd ?d?m Smith’s C?nc?pts ?f S?lf-int?r?st ?nd â€Å" Invisibl? H?nd† ?s Krugm?n’s ?bs?rv?ti?ns ?r? ?ss?nti?lly f?cus?d ?n th? individu?l’s grd ?nd s?lf-int?r?st in th? c?pit?list s?ci?ty th?t ?m?ric? is, it w?uld b? w?rthwhil? t? r?l?t? th?s? ?bs?rv?ti?ns with th?s? ?f ?d?m Smith, th? 18th c?ntury phil?s?ph?r ?c?n?mist wh? wr?t? Th? Wlth ?f N?ti?ns, ? t?ur d? f?rc? ?n th? thry ?f c?pit?lism intr?ducing th? c?nc?pt ?f th? â€Å"invisibl? h?nd† th?t lds c?pit?list s?ci?ti?s t? ?c?n?mic ?ffici?ncy. Whil? ?d?m Smith b?li?v?d grtly in th? intrinsic w?rth ?f th? c?pit?lism ?nd s?-c?ll?d â€Å"invisibl? h?nd† ?f th? m?rk?t, h? c?uld f?r?s th? s?lf-int?r?st?d b?h?vi?r ?f busin?ssm?n. ?cc?rding t? Smith, m?ximizing s?lf-int?r?st w?s ? ‘r?ti?n?l’ b?h?vi?r in ?c?n?mics. His ?ft?n qu?t?d ?bs?rv?ti?n fr?m Th? Wlth ?f N?ti?ns : ‘ppl? ?f th? s?m? tr?d? s?ld?m mt t?g?th?r, ?v?n f?r m?rrim?nt ?nd div?rsi?n, but th? c?nv?rs?ti?n ?nds in ? c?nspir?cy ?g?inst th? public, ?r in s?m? c?ntriv?nc? t? r?is? pric?s’  œ imply th?t th? busin?ssm?n ?r? ?lw?ys c?nc?rn?d ?f m?king th?ms?lv?s rich?r, ?v?n if its by h?rming th?ir f?ll?w citiz?ns ?nd th?ir n?ti?n. P?ul Krugm?n’s ?bs?rv?ti?n ?n c?rp?r?t? ?x?cutiv? ?thics ?nd th? st?tistic?l d?t? th?t h? pr?s?nts ?n th? c?nc?ntr?ti?n ?f wlth in ? f?w h?nds in â€Å" F?r Rich?r† f?lls in lin? with ?d?m Smith’s d?scripti?n ?f th? c?pit?list syst?m, which is ?ss?nti?lly pr?p?ll?d by th? s?lf-int?r?st?d b?h?vi?r ?f th? busin?ssm?n. H?w?v?r, ? m?in ?rgum?nt in Th? Wlth ?f N?ti?ns is th?t th? fr c?pit?list m?rk?t, th?ugh smingly chtic ?nd unc?ntr?ll?d, is in rlity str?d t? pr?duc? th? right qu?ntity ?nd r?ng? ?f gds by ? s?-c?ll?d â€Å"invisibl? h?nd.† ?cc?rding t? his thry, in th? ?v?nt ?f ? pr?duct sh?rt?g?, its pric? ris?s, which crt?s th? m?tiv?ti?n f?r its incrs?d pr?ducti?n, thus curing th? sh?rt?g? ultim?t?ly. Th? ‘invisibl? h?nd’ n?t ?nly guid?s pr?ducti?n, but ?ls? guid?s th? pric? ?f th? pr?duct in ? c?mp?titiv? c?pit?list syst?m. Th? incrs?d c?mp?titi?n ?m?ng m?nuf?ctur?rs ?nd th? incrs?d supply w?uld ?v?ntu?lly l?w?r th? pric? ?f th? pr?duct t? its pr?ducti?n c?st, which h? t?rm?d th? â€Å"n?tur?l pric?.† N?n?th?l?ss, Smith w?s c?uti?us ?f th? s?lf-int?r?st ?f busin?ssm?n ?nd insist?d ?g?inst th? f?rm?ti?n ?f m?n?p?li?s. Smith h?ld th?t whil? hum?n m?tiv?s ?r? ?ft?n s?lfish ?nd grdy, th? c?mp?titi?n in th? fr m?rk?t w?uld t?nd t? b?n?fit s?ci?ty ?s ? wh?l? ?nyw?y. Krugm?n’s ?n?lysis ?nd D? T?cqu?vill?’s ‘S?lf-Int?r?st Pr?p?rly Und?rstd’ ?l?xis d? T?cqu?vill? in his bk D?m?cr?cy in ?m?ric? ?ls? ?ddr?ss?d th? issu? ?f s?lf-int?r?st ?f ?m?ric?ns. H?w?v?r Krugm?n’s ?bs?rv?ti?ns diff?r signific?ntly fr?m T?cqu?vill?’s c?nc?pt ?f ‘s?lf int?r?st pr?p?rly und?rstd. T?cqu?vill? d?scrib?d ?m?ric? ?s ? c?mmunity ?f gd S?m?rit?ns, with ppl? p?rsist?ntly h?lping ?n? ?n?th?r. H? ?xpl?ins h?w ?m?ric?ns h?d ?n inn?t? gr?sp ?f th? c?nc?pt ?f ?nlight?n?d s?lf-int?r?st: â€Å"Th? ?m?ric?ns ?nj?y ?xpl?ining ?lm?st ?v?ry ?ct ?f th?ir liv?s ?n th? principl? ?f s?lf-int?r?st pr?p?rly und?rstd.† H? c?ntinu?s t? s?y â€Å"?nlight?n?d s?lf-l?v? c?ntinu?lly lds th?m t? h?lp ?n? ?n?th?r ?nd inclin?s th?m t? d?v?t? frly ? p?rt ?f th?ir tim? ?nd wlthy t? th? w?lf?r? ?f th? st?t?.† (T?cqu?vill?, 1840; pg. 611) T?cqu?vill?’s principl? ?f s?lf-int?r?st pr?p?rly und?rstd sms t? b? in lin? with th? pr?-1970s ?m?ric? pr?s?nt?d by Krugm?n; it’s h?rd t? ?ss?ci?t? th? s?lf –int?r?st ?f m?d?rn c?rp?r?t? ?x?cutiv?s r?p?rt?d by Krugm?n with T?cqu?vill?’s c?nc?pt ?f s?lf int?r?st. Krugm?n’s ?bs?rv?ti?ns sms in lin? with th?t ?f ?d?m Smith, in th?t h? ?ttribut?s th? ?c?n?mic ?chi?v?m?nts ?f th? Unit?d St?t?s t? th? c?nc?ntr?ti?n ?f inc?m? ?t th? t?p, typic?l ?f fr m?rk?t syst?m, h?w?v?r his hyp?th?s?s gs b?y?nd th? â€Å"invisibl? h?nds† ?f th? m?rk?t th?t Smith c?nsid?r?d w?uld b?n?fit th? s?ci?ty. Krugm?n c?nsid?rs th? c?nc?ntr?ti?n ?f wlth ?n th? t?p ?s th? m?in rs?n th?t th? Unit?d St?t?s h?s m?r? p?v?rty ?nd l?w?r lif? ?xp?ct?ncy th?n ?ny ?th?r m?j?r ?dv?nc?d n?ti?n. Th?ugh h? c?nsid?rs th? hyp?th?sis ?f th? ?ff?cts ?f â€Å"gl?b?liz?ti?n†, â€Å"skill-bi?s?d t?chn?l?gic?l ch?ng?,† ?nd â€Å"sup?rst?r† thry, h? c?nclud?s th?t ?xpl?n?ti?ns f?r th? gr?wing in?qu?liti?s ultim?t?ly t? th? â€Å"r?l? ?f s?ci?l n?rms in s?tting limits t? in?qu?lity.† (Krugm?n, 2002) P?ul Krugm?n’s vi?ws in ? w?y c?nfirm ?d?m Smith’s c?uti?n ?f th? grd ?f th? busin?ssm?n, h?w?v?r h? f?ils t? id?ntify th? invisibl? h?nd th?t w?uld guid? th? s?lf-int?r?st t?w?rds th? b?n?fit ?f th? s?ci?ty. Whil? h? ?ss?nti?lly sms t? ?gr with ?d?m Smith’s n?ti?n th?t individu?l’s s?lf int?r?st might indir?ctly pr?m?t? th? int?r?st ?f th? s?ci?ty, h? sugg?sts th? pr?lif?r?ti?n ?f gl?b?l tr?d? ?nd gl?b?liz?ti?n ?f busin?ss, th? ?m?rg?nc? ?f th? n?w ?c?n?my c?upl?d with th? ?bs?nc? ?f s?ci?l n?rms h?v? incrsing sid?lin?d th? ‘invisibl? h?nd’. Krugm?n’s ?ss?y ?ss?nti?lly p?int t? th? nd f?r g?v?rnm?nt?l c?ntr?l by crting ?ff?ctiv? l?ws ?nd th? r?instituti?n ?f ?thic?l n?rms in th? c?rp?r?t? w?rld, s? th?t ?d?m Smith’s m?gic?l â€Å"invisibl? h?nd† will guid? busin?ss?s in th? right dir?cti?n. Th?n c?rp?r?ti?ns ?nd ?x?cutiv?s , whil? trying t? m?k? th?ms?lv?s rich?r, will finish up d?ing things th?t ?r? gd f?r th? wh?l? s?ci ?ty. 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