When Steve Jobs died in 2011, Matt Yglesias said that he was a net-worth failure compared to other computer executives of his era like Michael Dell and Bill Gates: The rivalry between Steve Jobs and Bill Gates that dominated the…
Blog Archives
Steve Jobs got a small part of the Giant Turnip at Apple and a large part at Pixar
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…
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
Medianism 