Archive for the ‘Income’ Category

You Ask, I Answer

September 30th, 2011

Q: What is the mechanism by which higher incomes from increases in productivity get back to workers? A: Well, the problem is: it doesn’t.  I mean, sometimes it does, and it should, but in recent decades, productivity growth has diverged from the compensation and incomes of middle- and lower-income families.  This is really another way… Read more

The Policy Backdrop of Inequality and Its Implications for “Class Warfare”

September 23rd, 2011

Hey, no fair fighting back!! That’s what I hear when conservatives go on about “class warfare” in response the President’s call for balance in deficit reduction.  It’s particularly grating to hear Rep Paul Ryan use the CW talking point, when the lions’ share of his deficit savings come from cuts to low-income programs and Medicare,… Read more

Class Warfare, My A__!

September 19th, 2011

There’s an old trick in politics: if you’re winning a fight and the other side tries to do something about it, deny there’s any fight at all. “Class warfare!” is the big pushback talking point of the R’s in response to President Obama’s call for a balanced deficit reduction plan that calls for more revenue… Read more

Economic Policy Chutzpah

September 16th, 2011

It was my fate today to debate numerous conservatives on MS and CNBC. I’m still thinking about the release of the Census data and the look-back at the lost decade for the poor and middle class.  With figures like the one below in mind—the vividly different performance in middle-class income for working age households in… Read more

The Lost Decade for the Middle Class

September 13th, 2011

The poverty and income results for 2010 came out this morning and they’re a) about what you’d expect, and b) pretty bad.  Here’s some Q&A on what they show and what I think they mean, both in short-term (cyclical) and longer-term (structural) contexts. What do the numbers show, both in the short run and over… Read more