Artificial intelligence is taking over more and more jobs. The NYT reports that more and more journalism is actually being written by robots including nearly 1/3 of Bloomberg articles. “robot reporters have been prolific producers of articles on minor league…
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1/3 of Bloomberg articles are written by artificial intelligence!
Posted in Globalization & International, Inequality
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
New bill would require better measures of median income (plus a lot more)
GDP is a measure of total income in a country. For at least the two decades before 1980, American median income grew about as fast as GDP and Americans below the median income saw faster growth than Americans who were…
Posted in Inequality, Medianism
Occupational licensing is the new unionization
Back in 2011, which kind of license would cost more money to obtain in New York City? A license to practice medicine or a license to drive a taxi cab? A taxi cab medallion cost over $1 million in 2011…
Posted in Inequality, Labor
Innovative societies must have equality of opportunity
The current tax bill is largely motivated by the theory that if you give tax cuts to successful rich people, even though it increases inequality, it will be worth it because these elites will create jobs through innovation with the…
Posted in Inequality, Public Finance
Money can’t buy you love, but can it buy you life?
Raj Chetty et al. published a study of the correlation of class and life expectancy that got a lot of press, but I hadn’t actually looked at the original publication until this week. Here is the correlation between life expectancy…
The end of the efficiency-equity curve
In rich nations, inequality dramatically dropped during the first decades of the 20th century and although inequality has been creeping up again over the past half century (especially in the US) it has remained lower than it was during most…
