Archive for the ‘Inequality’ Category

Dude, Where’s Your Piketty Review??!!

April 19th, 2014

I’m way late in weighing in on Thomas Piketty’s great book “Capital in the 21st Century,” (note the lack of subtitle–I like that–gives the title that much more weight!).  That’s because I’m reading it really slowly but I’m almost done. Why so slow?  In part, because I’m savoring it–it’s a wonderful read, with trenchant insights… Read more

Rents, Rents, Everywhere Rents!

April 17th, 2014

Once you start seeing rents at the high end of the US compensation scale, it’s hard to stop (“rents” in this context means being paid well above your actual contribution to your firm’s value-added). There’s all the “front-running” stuff by high-frequency traders that’s finally getting a lot of press, which is a close cousin of the… Read more

What’s Driving the Growth of US Inequality: Labor or Capital Income?

April 13th, 2014

As noted yesterday, I’m working on a longer piece about sky-high salaries—merit vs. “rents”—so I was interested to see this piece (“Invasion of the Supersalaries”—nice!) in the NYT this AM.  That piece reports that “the median compensation of a chief executive in 2013 was $13.9 million, up 9 percent from 2012…”  I’m assuming that 9%… Read more

Profits and Jobs: Not that Into Each Other

March 31st, 2014

Over at the NYT Economix blog.  This one looks at other recoveries that have lasted as long as this one and asks about, among other things, the relationship between historically quite high corporate profits, yet weak employment and wage growth.  It makes you wonder, “who are those job creators everybody around here’s always going on… Read more