OpenStax is another high-quality open-source economics textbook provider and they produced a graph comparing the distribution of global income versus the distribution of global population. Hans Rosling found that most people incorrectly think that most of the world is poor,…
Yearly Archives: 2019
Corporations see a high-income world even though it is mainly middle-income
Posted in Development, Globalization & International
Odd patterns in American foreign investment
Core Economics is an open-source economics textbook project based in Europe which has produced an innovative approach to teaching economics. They produced the graph below which shows “the destination of investments by US companies when they invested directly in other…
Posted in Globalization & International
World inequality updates
Last month the World Inequality Lab, located at the Paris School of Economics, released their first World Inequality Report. Here is one result: The top 1% richest people saw their income growth skyrocket and the poorest people in the world…
Posted in Inequality
Peak globalization?
Updated 2/19/23 The first wave of globalization happened due to technological advances in transportation and communication that dramatically reduced transactions costs in the 1800s: Railroads, steel-hulled ships, the screw propeller, telegraph, etc. Then politicians raised tariffs, restricted immigration, and went…
Posted in Globalization & International
A history of the Corporation
There have always been large organizations that have done the kinds of things corporations do, but for most of human history, large organizations were run by religious hierarchies or governments rather than for-profit businesses. For-profit businesses were always small which…
Posted in Managerial Micro
The average Canadian became richer than the average American a decade ago.
Most people think that most Americans are richer than Canadians because that was true for most of history, but that ended a decade ago. The Great Recession of 2008 hurt Americans more than Canadians and the median income in Canada…
Posted in Medianism
Medianism 