Blog Archives

Shoulda bought Bitcoin a year ago…

The WSJ found a great way to show how much bitcoin has risen this year: Their video is fun too. Many bitcoin fans argue that this price rise is based on the fundamental value of bitcoin. I agree with the

Posted in Medianism

Rural politics

Farming communities have always been less cosmopolitan than urban areas, and that makes them more culturally conservative, but my sense is that they used to be more economically liberal in the past than today. Today, the most solidly conservative parts

Posted in Medianism

Escaping the tyranny of climate

Note: this is an abbreviated repost of an article I wrote for my Economic Development class that I’ll be using for a guest lecture on climate change. Humans co-evolved with our technological inventions for warming up in the cold: fire,

Posted in Medianism

Imputed rent

Suppose you own a house worth $240,000, but your job forces you to move to Chicago for two years where you will have to pay $12,000 ($1,000/month) to rent another house with nearly identical characteristics. Fortunately, you can rent out

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

Median vs. mean life expectancy

Life expectancy is the mean number of years someone is expected to live if conditions would remain the same in the future as they are in the current year. But because life expectancy is slightly skewed to the left, David

Posted in Health, Medianism

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