The further to the left or the right you move, the more your lens on life distorts.

Friday, April 18, 2014

Academic Justice

I have commented on Paul Krugman, the left's favorite economist, many times over the years. His extreme ideological positions, coupled with his many factual inaccuracies, exaggerations, and downright bad advice about the federal government's economic strategy makes him an amusing read. Over the past six months, Krugman has joined the president and other leaders of the Democratic party in lamenting "income inequality." He has been an outspoken critic that lambasts "the rich," and the tax structure (the rich don't pay enough taxes) at every opportunity. He fervently believes in income redistribution and is a champion of that position.

James Taranto comments on Krugman's latest job:
Being a "distinguished professor" of economics at the City University of New York is nice work if you can get it. "During year-one," the boss explains in a letter to the new hire, "you will not be expected to teach or supervise students." In subsequent years, "you will teach one seminar per year." In addition, the boss informs the distinguished professor that he "will play a modest role in our public events" and "will be asked to contribute to the buildup" of one of the university's programs.

The pay is $225,000 a year, plus a $10,000 expense budget--and the distinguished prof gets summers off. reports that CUNY's new distinguished professor is none other than former Enron adviser Paul Krugman. The program he'll be helping build up in exchange for this generous compensation is the Luxembourg Income Study Center and particularly its "inequality initiative."

Isn't that rich?

Yes, it turns out lamenting income inequality can be quite a lucrative occupation. By comparison, Gawker notes that adjunct professors at CUNY make about $3,000 per course, or 1/75th Krugman's rate, and undistinguished tenured professors earn a maximum of $116,364, a little over half Krugman's salary, although presumably many of them teach a full course load. According to 2010-12 census data reported by the public radio station WNYC, the median household income in New York City is $50,711, or 22.5% of Krugman's CUNY salary.

Typical of many limousine liberals, Krugman arrogantly talks the talk, but when it comes to walking the walk, well ...

If Professor Krugman feels as strongly about income inequality as he himself suggests, it would seem only reasonable that he reject the "generous" monetary offer from CUNY and accept no more than the average pay for a tenured professor.  After all, income inequality is a really, really bad thing, isn't it? And ... in the interest of 'academic justice,' he should offer to teach just as many credit hours as the average tenured professor.