“What the American people really should feel awkward and defensive about is the level of inequality and excess of political power. Instead of asking ourselves what we can do about Warren Buffett or Bill Gates, we should be asking ourselves about what we can do about the Clintons and the Spitzers. Those who want more […]
Archive for the 'Inequality' Category
Apr10th2008
Quote Of The Day
Published by in (modern day) Liberalism, Economics, General, Inequality and ModernPolitics. 8 CommentsApr7th2008
Quote Of The Day
Published by in (modern day) Liberalism, Capitalism, Economics, General and Inequality. 0 Comments“Krugman and Bartels think the problem is the influence rich people have on public opinion and the policy process….They also keep banging straight into the problem that if government is empowered to heavily affect people’s fortunes, then people with the biggest fortunes will have the most at stake when it comes to influencing government. The […]
Apr1st2008
“We examine changes in the characteristics of American youth between the late 1970s and the late 1990s, with a focus on characteristics that matter for labor market success. We reweight the NLSY79 to look like the NLSY97 along a number of dimensions that are related to labor market success, including race, gender, parental background, education, […]
Mar11th2008
Brad Schiller, professor of economics at American University and the University of Nevada, Reno writes on the inequality myth:
While there is some substance to these fears of widening inequality and middle-class stagnation, the situation is not nearly as clear-cut. Demographic changes in the size and composition of U.S. households have distorted the statistics in important […]
Dec13th2007
Arthur Laffer On President Clinton And The Economy
Published by in (modern day) Liberalism, Economics, General, Inequality, ModernPolitics, Poverty and Taxes. 4 CommentsI met Arthur Laffer in July of this year, at the Libertarians FreedomFest Convention in Las Vegas. I found him to be, by far, the most entertaining and provocative speaker (He is also, btw, a HUGE illegal immigration supporter). Since then, I added him to my “Must Read Anything They Write” list of economists. […]
Nov27th2007
The Importance Of Early Education And School Choice’s Part
Published by in Economics, Education, General, Inequality and Vouchers. 0 Comments“Dutch parents can indeed choose their children’s school. The schools are good, even though the country spends less on education than the OECD average. And, crucially, Dutch schools are selective - something that Britain supposedly lost when it abolished most grammar schools in the 1960s and 1970s. Whereas British kids used to be selected for […]
Nov14th2007
The Irrelevance Of Income Inequality
Published by in Economics, General, Inequality and StdOfLiving. 0 Comments“Nevertheless, measures of inequality of incomes do indeed vastly overstate the inequality of material living standards. Nearly all Americans enjoy easy access to the likes of microwave ovens, cell phones, the Internet, and MP3 players, as well as, of course, to food, clothing, and shelter. So the differences separating the super-rich from ordinary […]
Nov13th2007
“However, if poverty is defined in the relative sense, the lowest fifth of income-earners, “poverty” will always be with us. No matter how poverty is defined, if I were an unborn spirit, condemned to a life of poverty, but God allowed me to choose which nation I wanted to be poor in, I’d choose the […]
Nov1st2007
“the impact of gender equality on family inequality could be quite large. As I’ve suggested before, when a man with high earnings potential starts to look for a wife with high earnings potential instead of a wife who can cook and clean, you are going to see fewer inter-class marriages. That raises inequality. Then the […]
Oct31st2007
Quote Of The Day
Published by in (modern day) Liberalism, Economics, General and Inequality. 0 Comments“There is a reason many commentators on the left are allergic to evidence that economic well-being has improved up and down the income ladder: Americans are largely indifferent to the relative size of their income as long as it gets bigger absolutely. Absolute gains, from bottom to top, really take the wind out of populist […]
Oct25th2007
Martin Feldstein, president of the National Bureau of Economic Research and professor of economics at Harvard University, said in his speech upon acceptance of a 2007 Bradley Prize:
There are always those who want to turn back the intellectual clock and return to counterproductive policies. They are willing to sacrifice economic efficiency and growth in order […]
Jul13th2007
Abolish The SAT
Published by in Discrimination, Economics, Education, General, Inequality, Poverty and University. 1 CommentSo argues, persuasively and surprisingly, Charles Murray here.
Because upper-middle-class families produce most of the smartest kids, there is no way to reform the system (short of disregarding intellectual ability altogether) to prevent their children from coming out on top. We can only make sure that high-ability students from disadvantaged backgrounds realize that the nation’s best […]
Jun15th2007
“Is your employer poorer by the amount of money he pays you? Probably not, or you would never have been hired. Why then should we assume that a corporation or its customers are poorer by the amount paid to its chief executive officer?” — Thomas Sowell
Jun14th2007
From the Wall Street Journal:
A new study by the Congressional Budget Office says the poor have been getting less poor. On average, CBO found that low-wage households with children had incomes after inflation that were more than one-third higher in 2005 than in 1991.
The CBO results don’t fit the prevailing media stereotype of the U.S. […]
May21st2007
Why Is Income Inequality in America So Pronounced? Consider Education
Published by in Economics, General and Inequality. 2 CommentsEconomist Tyler Cowen, writting in the New York Times, gives the most prominent reason for rising inequality:
Economic Scene
Why Is Income Inequality in America So Pronounced? Consider Education
By TYLER COWEN
Published: May 17, 2007
The most commonly cited culprits for the income inequality in America — outsourcing, immigration and the gains of the super-rich — are diversions […]
Jan26th2007
“Much of the measured growth in income inequality has resulted from natural demographic trends. In general, there is more income inequality among older populations than among younger populations, if only because older people have had more time to experience rising or falling fortunes. Furthermore, more-educated groups show greater income inequality than less-educated groups. Uneducated people […]
