Prosperity, growth and the truth

Paul Krugman is getting quite a bit of pushback for reminding us in a post last week of an inconvienent truth in conservative circles (and one of my favourite factoids):

The era of strong unions, high minimum wages, high top marginal tax rates, etc. was also a period of rapid growth and rising living standards. That doesn’t prove causation; it does disprove the widespread dogma that these things are always economically devastating.

via Economics and Politics – Paul Krugman Blog –