Monthly Archives: February 2015

Four Forces Watch: Gentrification

Luke Juday and others report, Since 1990, downtowns and central neighborhoods in cities across the country have attracted significantly more educated and higher-income residents. Young adults (22-34 years old) have increased as a proportion of residents in the center of … Continue reading

Posted in Four Forces Watch | 7 Comments

Kevin Erdmann Revisits the Housing Boom

He writes, the commonly repeated anecdotes of janitors and checkout clerks being handed $300,000 mortgages on a hope and a prayer do not appear to be representative. On net, all the new mortgages went to families with incomes around $45,000 … Continue reading

Posted in Housing and housing finance, PSST and Macro, Three-Axes Model | 9 Comments

Piketty and Mort Sahl

Timothy Taylor quotes from a recent journal article by Piketty, and then summarizes, In case you didn’t catch all that, Piketty is noting that r>g is not useful for discussing income inequality, and does not necessarily lead to wealth inequality, … Continue reading

Posted in books and book reviews, income distribution-wealth-poverty, Timothy Taylor is my Favorite Blogger | 1 Comment

Reluctant Heroes Austan Goolsbee and Alan Krueger

They write, It is fair to say that no one involved in the decision to rescue and restructure GM and Chrysler ever wanted to be in the position of bailing out failed companies or having the government own a majority … Continue reading

Posted in Economic education and methods, Timothy Taylor is my Favorite Blogger, Tyler Cowen is my Favorite Blogger | 9 Comments

Human Capital and Chainsaw Arms

Noah Smith offers this: So how should we think about human capital? Here’s an analogy that I think works well. You agree that a chainsaw is capital, right? OK, now imagine a chainsaw that you graft permanently onto someone’s arm, … Continue reading

Posted in Uncategorized | 1 Comment

New Commanding Heights Watch

From the NYT. Ms. Waugh, like many other hard-working and often overlooked Americans, has secured a spot in a profoundly transformed middle class. While the group continues to include large numbers of people sitting at desks, far fewer middle-income workers … Continue reading

Posted in Four Forces Watch, Tyler Cowen is my Favorite Blogger | 1 Comment

Four Forces Watch: Larry and the Robots

Mike Konczal writes, There’s been a small, but influential, hysteria surrounding the idea is that a huge wave of automation, technology and skills have lead to a massive structural change in the economy since 2010. He goes on to say … Continue reading

Posted in Four Forces Watch, PSST and Macro, Scott Sumner is Coherent | 9 Comments

The Harm of Government Debt

Tyler Cowen writes, I worry that the general decline of discretionary government spending may make politics less stable (but also more interesting, not necessarily in a good way). When there is plenty of spending to bicker about, politics revolves around … Continue reading

Posted in government debt crisis, Tyler Cowen is my Favorite Blogger | 2 Comments

Four Forces Watch: Coastal Incomes

Derek Thompson reports, For Flint, Detroit, Youngstown, Cleveland, and Milwaukee, the demise of manufacturing, steel production, and other off-shored blue-collar work have gutted these foundries of good middle-class jobs. Pointer from Mark J. Perry, who provides two interesting tables and … Continue reading

Posted in Four Forces Watch | 4 Comments

The Closed Network of Faculty Hiring

Colleen Flaherty reports on a study of academic hiring. The study, published this week in Science Advances, is based on hand-curated data about placements of 19,000 tenure-line faculty members in history, business and computer science at 461 North American institutions … Continue reading

Posted in Economic education and methods | 8 Comments