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Paul Krugman's book 'Arguing with Zombies: Economics, Politics, and the Fight for a Better Future' primarily focuses on debunking 'zombie ideas' that refuse to die despite evidence against them. Some key takeaways from the book include the concept of rising inequality in America, not as a cause, but as a result of social changes. Krugman highlights the decline in opportunities for less-educated men, leading to lower participation in the workforce and marriage. He also points out the significant drop in entry-level wages and private sector health benefits for high school graduates over the years.
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Entry-level wages for male high school graduates have fallen 23% since 1973. The percentage of high school graduates working in the private sector with health benefits had declined from 65% in 1980 to 29% in 2009. The United States has become a society where less-educated men had great difficulty finding jobs with fair wages and benefits. This lack of opportunities leads to these men being less likely to participate in the workforce or get married. Social changes taking place in America's working class are the result of sharply rising inequality and not its cause, Krugman says.
Asked on the following book summary:
“Zombie ideas” simply refuse to die despite mountains of evidence to disprove them. How do you fight them? Paul Krugman, Nobel Prize winner in Economi...
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