Comments on: Taxes and Transfers Have Become Less Effective at Reducing Inequality

By: Pasquino

Pasquino — Thu, 29 Nov 2012 02:56:10 +0000

Something significant has also happened during this period: Baby Boomers have neared and reached retirement age, distorting the national mindset in ways no one is commenting on. Notably this: as Boomers have become more and more obsessed with their retirement accounts their loyalties have shifted from “Working for a Living” to “Owning for a Living”, with all that that entails, including perhaps voting like David Koch or his rich brother. They vote their stocks. This shift in loyalties has a knock on effect in other areas and demographics too. It might be worth adding (would be well worth adding) this realization to the mixture of cause and effect that economists measure. We don’t want to assume current trends are correct, rational and durable, because assuming that makes events self-validating, despite factors, such as the one I am asserting, which are not being noticed and may be only momentarily weighted.

By: Kenneth D. Franks

Kenneth D. Franks — Wed, 28 Nov 2012 08:14:57 +0000

Many models are not perfect however that doesn’t mean that they don’t serve the purpose of trying to explain complicated realities.

By: Nick Batzdorf

Nick Batzdorf — Wed, 28 Nov 2012 07:29:56 +0000

I sure hope that the outcome of this election doesn’t sweep the influence of $ in politics under the rug!

Imagine a model in which politicians weren’t constantly worried about raising money for campaigns. That would make solutions to literally all our problems a lot closer, whether they’re local, global, or…I hesitate to use the word “existential,” but it’s probably not hyperbole to categorize climate change and the other ecological issues we’re facing that way.

(This is why I volunteer at http://www.CAclean.org – the first baby step is full disclosure in political advertising.)

By: Jared Bernstein

Jared Bernstein — Wed, 28 Nov 2012 02:46:56 +0000

Like any model–if it’s predictions didn’t match reality. And, in fact, some don’t. EG, there’s an argument that $ in politics is less influential than the model predicts. Also, declining share of gov’t spending comes out of the model–while that’s aspirational to many, it has yet to occur. So, the model is far from perfect.

By: D. C. Sessions

D. C. Sessions — Wed, 28 Nov 2012 02:24:31 +0000

How would you propose to falsify that model?

By: Ken Houghton

Ken Houghton — Tue, 27 Nov 2012 15:26:36 +0000

Dang, man, you’ve created a model that comes close to mimicking reality.

Time to find another field. (And I wish I were joking.)