Archive for the ‘Wages’ Category

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

A Striking Picture of Pay and Deregulation in Finance

April 12th, 2014

I’m crunching on a longer piece on “rents” versus merit in US high-end salaries and their role in our uniquely high levels of inequality (“rents” here means being paid above your marginal product, or your individual contribution to your firm’s bottom line). Anyway, for good and I think obvious reasons, a strain of this literature… Read more

The President, the Pen, the Phone, and the States

April 3rd, 2014

I’m often asked what President Obama can really accomplish on the economy with just “the pen and the phone,” i.e., what can he do without Congress.  It’s a tough question, because moving the needle on unemployment or implementing economic policies that reach lots of people requires Congressional cooperation, of which there ain’t hardly none these days…. Read more