Here’s is a great deck by Mark Pearson from the OECD from the National Academy of Social Insurance conference yesterday. Pearson compares inequality across various countries, as well as the extent and impact of taxes and transfers on market-based income dispersion. He covers a ton of great stuff here but misses a chance to make… Read more
I may be a bit out of my depth here but let me offer a few thoughts on a debate among progressives that leaves me scratching away at the old noggin.’ Here are the bones of the thing, as I kinda understand them: Argument 1: “Bernie supporters, you’re going to blow this for us!” –Hillary’s… Read more
I focus a lot on market failures, but gov’t failures and just as threatening. See Flint, MI’s water crisis. Moreover, gov’t failure is not a mere accident caused by bumbling bureaucrats. It is a strategy to shrink gov’t. Over at WaPo.
Well, there’s the stock market and there’s the real economy. They’re related but they’re not the same thing. Here’s why. To be clear, nobody knows when the next recession will hit, so I’m decidedly not saying all clear, happy-dappy! To the contrary, I strongly urge us to be ready for the worst.
One can decompose the growth in real (inflation-adjusted) weekly earnings into the parts due to: a) hourly wage growth b) weekly hours worked c) inflation So, the growth in real weekly earnings = a + b – c, or nominal hourly wage growth plus hours growth minus the rate of inflation. Now that we have… Read more