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The Fed Finally Adds Median Income To Its Data

I have given formal presentations about medianism in 4 different countries in 2014: the USA, Lebanon, Mexico, and now Canada.  Two weeks ago I presented at the Mennonite Economic Development Associates (MEDA) Convention in Winnipeg Canada. A lot of the

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Posted in Inequality, Macro, Medianism

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

Posted in Development, Inequality, Medianism, Public Finance

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

Posted in Inequality, Labor, Macro

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

Posted in Inequality, Macro, Medianism

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

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Posted in Inequality, Macro, Medianism

Doctors Don’t Put Up With Much Moral Hazard From Medicaid Patients

I teach health economics to medical professionals and every year many of them say they perceive greater moral hazard among Medicaid recipients than among the rest of us.  I think this perception is partly due to the way the economics

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Posted in Health, Inequality

Inequality vs Unemployment: Similar Causes, But Different Cures

David Autor has a new paper that he presented at the Federal Reserve conference in Jackson Hole, Wyoming last week where he argues that labor-saving robots (and other new technologies) won’t raise unemployment.  This has been a worry at least since the

Posted in Inequality, Labor, Macro, Medianism

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