Economics Is Not A Morality Play - NYTimes.com
In the above quote, Paul Krugman argues that the winners and losers in monetary terms are not reflective of any moral significance. Do you agree or disagree with this statement? Why?But maybe this is an opportunity to reiterate a point I try to make now and then: economics is not a morality play. It’s not a happy story in which virtue is rewarded and vice punished. The market economy is a system for organizing activity — a pretty good system most of the time, though not always — with no special moral significance. The rich don’t necessarily deserve their wealth, and the poor certainly don’t deserve their poverty; nonetheless, we accept a system with considerable inequality because systems without any inequality don’t work.
Edit: Forgot to make this poll public, can a mod please fix that? Thanks in advance.