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Mmutilitarianism: The accidental ethical foundation of economics and business.

Note: This is an adaptation for students of an old post. Everyone has some sort of moral philosophy whether they realize it or not.  The three major schools of ethics are deontology, consequentialism, and virtue ethics.  Deontology is an ethical system

Posted in Medianism

Real median wage growth highest in 15 years

The Atlanta Fed regularly publishes a measure of median nominal wage growth for several interesting demographics, but for some reason, they don’t publish any measure that is adjusted for inflation, so I created one using a running 2-month average of

Posted in MELI & Econ Stats

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 Middle class

The State of The USA is mmutilitarian

The State of The USA is an organization that receives federal funding with the mission to measure “the nation’s progress… with the best quality measures and data on the most important issues facing the country” by creating a “Key National

Posted in Medianism

The State of the USA is… Unclear

Jon Gertner wrote a great article about the history of GDP and other social welfare indicators on the New York Times.  The occasion for the article was a new “challenge to the G.D.P. …known as State of the USA” which was

Posted in Medianism

History of GDP

In 2010, Jon Gertner at the NYT published an excellent history of the idea of GDP and its deficiencies.  One paragraph mentions that median income is better than GDP, but  the article focuses more on a “willfully obscure” initiative called

Posted in MELI & Econ Stats

Rising house sizes are NOT an accurate measure of wellbeing

AEI employees, James Pethokoukis and Mark J. Perry, both wrote separate arguments that Americans are “substantially better off” now than in the 1970s because, as Pethokoukis titles his essay, “The median US home is 61% larger than 40 years ago.”

Posted in Medianism

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