2/28/2006

Graduates vs. oligarchs

I read an interesting article by Paul Krugman, he talks about the discrepancy of the often preached idea that the higher the education you receive the higher the income. The 80-20 fallacy is mentioned that 20 percent of the people control 80 percent of the wealth, and he argues this is not the case. He says that it has become less than a percent of the people that are controlling the wealth "income at the 99th percentile rose 87 percent; income at the 99.9th percentile rose 181 percent; and income at the 99.99th percentile rose 497 percent. No, that's not a misprint." Many of our goals as MBA’s is to be the best and work hard to be in the top percent, are the odds on our side? I believe they can be.

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