Thursday, April 17, 2008

Tale of two graphs 

The first was a picture Krugman drew yesterday of median family income in the Midwest vs the rest of the nation:
The other comes from a 2006 Midwest Economy entry from the Chicago Fed:I'm going to say those two are related. Is it any accident that the convergence of the midwest's median income the the nation coincides with the beginning of the slide in manufacturing? The question is, what can be done about it?