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Great article about replacing GDP

David Leonhardt has a great new article about measuring economic progress. This graph shows the main problem with GDP. It has become completely divorced from the reality for 90% of Americans: By The New York Times | Source: Thomas Piketty, Emmanuel

Posted in MELI & Econ Stats

Income growth for different age groups in America

The distribution of income deserves more attention. One reason why college seems less affordable is that average real wages for young people have fallen since the 1970s whereas tuition has risen. A lot. Of course, the average college student doesn’t

Posted in MELI & Econ Stats

New bill would require better measures of median income (plus a lot more)

GDP is a measure of total income in a country. For at least the two decades before 1980, American median income grew about as fast as GDP and Americans below the median income saw faster growth than Americans who were

Posted in Inequality, Medianism

Beer Companies Don’t Care About The Median Drinker

Updated February 9, 2018 Mark Kleiman has done some of the most insightful policy analysis of illegal drugs available.  He argues that home grown marijuana should be legal (and polls show that the majority of Americans have agreed for some

Posted in Health, Labor, Medianism

#Pence2018 because Pence wouldn’t need to illegally use campaign funds to pay hush money to porn star to cover up an affair

Nor would a president Ryan nor just about any other plausible president I can think of. Let’s put this ugliness behind us as soon as possible. The Republicans who control both houses of Congress have a choice and it should

Posted in Medianism

US median income finally rises above record set in 1999. Yea!

Kevin Drum reports that the official census bureau measure of: household income is now at an all-time high: And now for the buzzkill portion of this post: this means household income has increased a whopping 0.6 percent since 1999. That’s $22

Posted in MELI & Econ Stats

Trickle-up economics

Supply-side economics is often derided as trickle-down economics. It is the idea that we should reduce taxes on the wealthy who will then use their increased disposable income to grow the economy so fast that it will benefit everyone. That

Posted in Medianism, Public Finance

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