Ah, Thanksgiving. Savory food, family…and that pesky relative with a PhD in Fox News that keeps needling you to the point where you can’t even enjoy Cousin Chrissy’s carrot soufflé. [All references are to actual dishes at my family table! Also, usual disclaimer and Thanksgiving tidings to my bros-in-law–Jim, Clint, Sean, Andy, Tom. Earlier editions… Read more
Very nice internet connection in the hotel, too. http://www.guardian.co.uk/business/2011/nov/20/middle-class-employment-stagnation-economy?newsfeed=true Tomorrow, I’ll post my slides from the conference.
In various posts (e.g., here), I’ve stressed the relationship between inequality and mobility in the American income distribution. Although someone’s always going to complain about the evidence, it’s widely accepted that income inequality has grown considerably over the last few decades. What you sometimes hear about this is: “sure, inequality’s gone up, but there’s enough… Read more
Today’s jobs report gives us a look at the wage side of the job market. It’s not pretty, and it’s an obvious reason why families are facing tight budgets and the economy’s stuck in neutral. As the figure shows, real (inflation-adjusted) weekly earnings are down about 2% over the past year. There are three ingredients… Read more
Headlines from the AM’s NY Times: Top Earners Doubled Share of Nation’s Income, Study Finds New Poll Finds a Deep Distrust of Government Broadly speaking, I worry that most Americans now believe that key institutions and societal functions that we count on to improve our living standards, offset market failures, break down mobility barriers, protect… Read more