Archive for the ‘Income’ Category

The Current Economy: Green Shoots or Brown Ones?

May 29th, 2014

I was listening to an interview with Tim Geithner this weekend, and after going through his (highly readable) new book, they asked him where he thought the economy was headed.  “I don’t believe forecasts,” he said, which sounded smart to me (he then proceeded to forecast). He was pretty bullish about growth, generally arguing what… Read more

Piketty’s Mistakes, What They Mean for the Message of Cap21, and Other Data Thoughts

May 24th, 2014

Industrious data probers at the Financial Times have raised good, tough questions about some of the wealth data in Thomas Piketty’s influential book (specifically, the material in his Chapter 10).  Though we’ll need to wait for a full response from the author to questions they raise, their careful forensics provide a must read by anyone… Read more

Arguing Taxes, Transfers, and Market Outcomes

May 22nd, 2014

Inequality analyst Scott Winship feels “systematically ignored” by “writers and researchers” including myself.  Since he’s a smart and interesting critic in this space, not to mention an old fellow traveler, allow me to correct that. Scott is one of a number of analysts who criticize Thomas Piketty’s work for focusing largely on market incomes, thus… Read more

A Picture of Fragile Retirement Preparedness

April 30th, 2014

Here’s an important picture and tight argument by Alicia Munnell, a renowned expert on retirement-security, or lack thereof, posted at MarketWatch.  Though I assiduously defend Social Security, the broader question of retirement security is one I don’t post enough about here, so I wanted to be sure to call attention to Alicia’s piece. The figure… Read more