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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

Posted in Health, Inequality, Medianism, Public Finance

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

Posted in Development, Inequality, Public Finance

Anyone who is a true advocate for the middle class must accept a little class warfare

The American Enterprise Institute, a conservative think tank, wrote a position paper arguing that Americans are saving a lot more for retirement than a Pew study showed. The AEI objected to the sort of media reports about the Pew study saying,

Posted in Inequality, Middle class

The socialism-prosperity curve.

Jordan Ellengerg’s book, How Not To Be Wrong: The Power of Mathematical Thinking  has an entire chapter about how surprisingly difficult it is for people to think in terms of non-linear relationships like the equity-efficiency curve. On page 23, he draws

Posted in Development, Inequality, Public Finance

Inequality in South Africa and Ukraine

Consider the economic wellbeing of South Africa and Ukraine in 2003. South Africa’s mean income at $10,400 was 67% higher than Ukraine’s at only $6,220 but Ukraine’s life expectancy was 67.4 years which is 25% higher than in South Africa at 53.7

Posted in Inequality, Medianism

A new indicator of economic development: How many years would you work to buy your life?

Although most people find it distasteful to put a dollar value on human life, people have been doing it for centuries and these judgements have always had a big impact on people.   Before the 1960s, the motivation for putting an

Posted in Development, Health, Inequality, Medianism, MELI & Econ Stats, Public Finance

Median individual income is still fairly stagnant, particularly for men.

The Census just announced a historically rapid rise in median household income which is cause for celebration, but the reason why it rose is a bit less heartening.  Basically, households are working more hours.  The median earnings of individuals is still somewhat stagnant:

Posted in Inequality, Medianism

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