Updated 4/12/2018 Arindrajit Dube wrote a paper in 2004 that explains several ways that the minimum wage is flawed in the US, including: The minimum wage is too low. It isn’t adjusted for inflation. It isn’t adjusted for local cost of living…
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Highest International Inequality Zones
Branko Milanovic wrote a good article about global inequality measures which ends with an examination of the pressures for immigration. if you classify countries by their GDP per capita level into four ‘worlds’, going from the rich world of advanced…
Posted in Medianism
¡¿”No one actually knows who is in the middle class”? That is crazy. It isn’t rocket science.
Ezra Klein complains today that “no one actually knows who is in the middle class” because he wants to define a dollar income that can define the “middle-class line” like the way we define the poverty line. In the New…
Posted in Middle class
See page about The Positivist Fallacy
I wrote a new page about The Positivist Fallacy which explains why positivism is impossible and the whole normative-positive distinction is illogical and useless at best or may even be harmful at worst. An example of how positivism has been harmful is the…
Posted in Medianism, Philosophy and ethics
The Emasculization Of The American Workforce
A Brookings Institution paper by Michael Greenstone and Adam Looney has a particularly salient introductory quote about male workers. Not only did the median income stagnate after the 1970s, but median male income plummeted. A lot of great things happened…
Robert Samuelson Bravely Bashes The Uppity Middle Class
Robert Samuelson is an economics columnist for the Washington Post who is usually wrongheaded. I suspect the only reason that he has his prominent position is that he has the same last name as one of the most influential Nobel…
The Fed Needs A Better Dashboard
The Brookings Institution updated a good article earlier this month showing the dashboard that the Federal Reserve leadership uses to steer the US economy using the “most important[¡¿]” measures. This “array of gauges” gives useful information, but it lacks anything…
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