Solow: Not Everyone's Income Falls During a Recession
Bookmark & ShareMay 1, 2008
Source: Yahoo Sports
Gas prices are up. Food prices are up. So, oddly enough, is attendance at Major League Baseball games. JOHN SOLOW, an economics professor at the University of Iowa points out that not everyone's income falls during a recession. "In total, people are getting poorer or it wouldn't be considered a recession," he said. "But there are some people whose income continues to rise. What fraction of those tickets are sold to Joe Six-Pack and his family as opposed to corporations?"
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