Monthly Archives: January 2014

The New Piketty Book and Social Security Privatization

I have not read it, but Tyler is touting it. Apparently, Piketty argues that it is normal for the return on capital to exceed the growth rate of the economy. I always thought that this was impossible. Ten years ago, … Continue reading

Posted in books and book reviews, income distribution-wealth-poverty, Tyler Cowen is my Favorite Blogger | 32 Comments

The Medical Analogy

Michael Huemer writes, Voters, activists, and political leaders of the present day are in the position of medieval doctors. They hold simple, prescientific theories about the workings of society and the causes of social problems, from which they derive a … Continue reading

Posted in Libertarian Thought, PSST and Macro | 5 Comments

Claude S. Fischer vs. Libertarianism

He writes, using the Human Development Index, which measures a population’s well-being in terms of health, education, and wealth. The HDI, corrected for internal distribution (the Bill Gates-makes-all-Americans-look-rich factor), is typically higher in OECD nations where governments are relatively large. … Continue reading

Posted in Libertarian Thought, links to my essays | 8 Comments

My Macro Book

IF you go here, you will find a link to a download page. I am not sure how many downloads my internet host will allow before siccing the bandwidth police on me. So please do not download it unless you … Continue reading

Posted in PSST and Macro | 8 Comments

Two Interesting Abstracts of NBER Papers

1. Philip J. Cook and many co-authors write, This paper reports on a randomized controlled trial of a two-pronged intervention that provides disadvantaged youth with non-academic supports that try to teach youth social-cognitive skills based on the principles of cognitive … Continue reading

Posted in Economics of Education, Growth Causes and Consequences | 2 Comments

Assortative Mating Matters for Inequality

The new paper by Greenwood, et al. The wife’s contribution to household labor income is significantly larger in 2005 relative to 1960. This share rises with the income percentile. At the 80th percentile the share that married woman provided to … Continue reading

Posted in income distribution-wealth-poverty | 1 Comment

As the Economy Churns

Mark Perry finds an article by Richard Foster, who wrote, US corporations in the S&P500 in 1958 remained in the index for an average of 61 years. By 1980, the average tenure of an S&P500 firm was 25 years, and … Continue reading

Posted in Uncategorized | 7 Comments

Mankiw on the Chetty Paper

He writes, Chetty et al. finds that the regression of kids’ income rank on parents’ income rank has a coefficient of 0.3. (See Figure 1.) That implies an R2 for the regression of 0.09. In other words, 91 percent of … Continue reading

Posted in income distribution-wealth-poverty | 5 Comments

Save the Death Panels!

Thomas A. Firey writes, imagine how quickly and dramatically the iPAB provisions will be altered when the news media begin reporting on how some telegenic children or senior citizens will be deprived of vital medical treatment because of the pencil-pushing … Continue reading

Posted in Economics of Health Care | 5 Comments

The Propagation Issue

In the event featuring Tim Harford and Alex Tabarrok, this issue came up. The issue is how fluctuations in output and employment become broad and long-lasting. For advocates of real business cycles, the challenge is to explain the breadth of … Continue reading

Posted in PSST and Macro | 3 Comments