Secular stagnation usually refers to some sort of structural problem with aggregate demand that will maintain high unemployment along with low inflation and interest rates as you can see in this free ebook about secular stagnation written by famous economists. …
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Secular Stagnation of The Median
Secular stagnation is a concept that Alvin Hansen developed after nearly a decade of Great Depression in the US because he feared that the stagnation could continue forever. Then WWII brought the biggest government spending stimulus in history and the…
Progressive Taxes Could INCREASE Inequality
UPDATED 2015/01/28 Cathie Jo Martin and Alexander Hertel-Fernandez wrote an interesting article on Vox arguing that progressive taxation increases inequality. It is a counter-intuitive argument, but their graph gives evidence for it: Their theory is that progressive taxation leads to…
The Median Is A Powerful And Neglected Statistic
The median is so neglected that Microsoft Excel’s pivot tables which are designed to display statistical summary data don’t even give the option of displaying medians. The arithmetic mean was independently invented several times for reducing measurement error including by Isaac…
Posted in Medianism
Our Monetary Overlords Want Low, Low Wages
Josh Bivens has the scoop: Dallas Federal Reserve Bank President Richard Fisher has a secret paper telling us how to fight inflation: stop progress in reducing unemployment so that nominal wages never grow fast enough to actually boost living standards…
Were “The Good Old Days” in the 1990s Really Better Than Today?
For most Americans, according to official economic statistics, the 1990s were the best of times. Anne Lowry explains: This week, the Census Bureau came out with its big annual report on income and poverty in the United States, and it…
Economic “Recoveries” Are Not benefitting the Median American
Pavlina Tcherneva tweeted a graph last month showing how the macroeconomic policy has increasingly left behind 90% of Americans. @ptcherneva: I’d like to see the data that generated this graph because it has gotten a lot of attention and I’d…
Medianism 