The concept of “the middle class” has never been well defined and has outlived its usefulness. Because we have more precise statistical terms like ‘median,’ we should use them. Wikipedia’s academic sources demonstrate that “the middle class” is often defined as…
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What Is Middle Class?
Politicians like to talk about “the middle class.” For example, Obama said that his reelection was “a mandate to help middle-class families and families that are working hard to try to get into the middle class.” But the ‘middle-class’ is…
Philanthropy and The “Social Welfare”
Currently there is a scandal over the IRS targeting of Tea Party groups for investigation of whether they qualify for their tax exempt status or whether they are primarily political. The main issue at stake is whether the groups can…
Introducing Medianism.Org
Economics is sometimes called the Dismal Science because of the dismal ethical implications of the discipline. Yesterday I was reminded of that when one of my smart students told me that I teach that altruism is impossible. I do not…
The Topic of Depression Economics in a Nutshell
Brad Delong has a good post on depression economics: Grasping Reality with Both Hands: …how you should think about the topic of “depression economics. …Why should there be such crashes in the level of employment? How can it be that there…
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