Ray Person sent me an article from Money Magazine that compares mean wealth with median wealth which suggests that although the US is one of the wealthiest countries in the world on a per-capita (mean) basis, unfortunately the US is…
Blog Archives
A Parable About Efficiency and Equality
Updated Dec 13, 2023 A commentator recently asked how efficiency and equity could both increase at the same time. I have outlined the idea in previous posts, but I also think a parable is a good way to illustrate the…
Posted in Inequality, Medianism
Updates About MELI
I added some additional pages about Median Expected Lifetime Income (MELI) to the Medianism FAQ this week: M1. What is Median Expected Lifetime Income (MELI)? M2. Why is MELI better than GDP? M3. Why is MELI better than the United…
Posted in Medianism
MELI Is Better Than The Human Development Index (HDI)
I added a page to the Medianism FAQ to explain why Median Expected Lifetime Income (MELI) is better than the United Nations’ Human Development Index (HDI). There are four main reasons: MELI is simpler to understand, more transparent in its…
Posted in Medianism
Median Expected Lifetime Income (MELI) vs. GDP
I added another article to the Medianism FAQ: Why Is Median Expected Lifetime Income (MELI) Better Than GDP? As I was writing it, I noticed a nice infographic at the Social Progress Imperative which tells about the long history of…
Posted in Medianism
Happy Anniversary, Medianism.Org
I started this website a year ago and I have written much more content than I expected: 69,000 words, the equivalent of 276 pages. Although I haven’t gotten as many total hits as I had expected due to a very…
5 Times More Economists Support Raising the Minimum Wage Than Oppose It
Economics textbooks leave most students with the distinctive impression that raising the minimum wage creates a market failure and only creates unemployment because that is the simplest story you can tell using the most revered tool in economics: the supply…
Posted in Medianism, Public Finance
