Help needed, very important assignment needs to be answered in great depth. Thank you very much.

Question 1:

Both Krugman's and Lucas' papers explored inequality. Krugman discussed individual workers while Lucas discussed inequality among nations. Compare the two. How are their arguments alike? How are they different? Do you have confidence that eventually Lucas' prediction will come true? If so, would that give you confidence that inequality among individuals will also eventually become less? (In answering, remember why Krugman thinks there is an increase in inequality.)

Krugman Article Link: https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.362.6402&rep=rep1&type=pdf

Lucas Article Link: https://www.jstor.org/stable/2647059?seq=1

Question 2

We read a long Cochrane piece about growth, https://static1.squarespace.com/static/5e6033a4ea02d801f37e15bb/t/5ee3ec429b345437d2e440fc/1591995459024/Cochrane_growth.pdf

That article created some debate. You can see that debate here:

http://johnhcochrane.blogspot.com/2015/12/smith-meet-jones.html

Describe what Smith means when he talks about levels vs growth. Do you think Cochrane's suggestions are more about levels or growth?