"I think I was trying to suggest something about the duality of man, sir ... the Jungian thing, sir."
Private Joker, Full Metal Jacket
Thursday, September 15, 2011
Poverty is winning
This is an extraordinary chart showing a rapid fall in the poverty rate that more or less ended with passage of the War on Poverty. Since then the rate moves up and down within a relatively narrow band in correlation with the general performance of the economy. Of course, past results are no indication of future performance and it is not at all clear that the poverty rate would have continued to decline. But Vietnam was not the only war that LBJ escalated and lost.