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Steve Jobs got a small part of the Giant Turnip at Apple and a large part of it at Pixar

When Steve Jobs died in 2011, Matt Yglesias said that he was a net-worth failure compared to other computer executives like Michael Dell and Bill Gates: The rivalry between Steve Jobs and Bill Gates that dominated the computer industry for

Posted in Labor, Managerial Micro

The Just Deserts of Capitalism and the Giant Turnip

≈35 minutes to read. Why do some people earn more money than others? The overly simplistic answer from neoclassical economics is that people earn what they produce. If a doctor earns four times as much as her pastor it is

Posted in Inequality, Labor

Race Vs. Class At College

David Leonhard found that elite colleges have very little economic diversity.  At elite schools, only a little over 10% of the student body comes from families below the median income. William Bowen, …was a co-author of a study several years ago that

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Posted in Discrimination, Labor

Unions and the mafia

There is very little scholarly research about unions and organized crime according to an article and book I found on the topic. At this point the topic now seems unimportant because unions have been in decline in the USA and

Posted in Labor

Why buy a lotto ticket when other kinds of gambling are much more profitable?

The lottery is much less efficient than most form of gambling than most because each lottery ticket has an expected loss of more than 50% after taxes whereas slot machines have an expected loss of only about 10% and the

Posted in Labor

Racial progress: compare the riots of 1967 with the riots today. We’ve come a long way baby.

Read this classic Esquire essay from 1968. Police brutality was way worse back then. They just massacred people in some cases. White supremacist militias were more dangerous and shot more people. Entire neighborhoods burned for days. It was close to

Posted in Discrimination, Violence & Peace

Black lives matter more in countries with fewer guns. Even most police don’t need guns.

As I’ve written before, I’m not a gun-control advocate because there are lots of other factors that can reduce violence that are more politically feasible. For example, Franklin Zimring has numerous suggestions for how to change the rules of engagement

Posted in Discrimination, Violence & Peace

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