Homines libenter quod volunt credunt
Posted in Classical Liberalism, Government Gone Wild, Government Thuggery, If I Really Hated the Poor ..., Inequality, Special Privilege on Dec 6th, 2014
As we’ve said here many times, we are NOT permitted to speak freely and honestly about race and the current state of affairs in America, But please allow me the following: Will the guilt-ridden and angry people of all stripes please spell out for me what someone like me is supposed to do. I am told […]
Posted in Economic Illiteracy, Economics Problems, Inequality, media, Methodology, Standards of Living on Oct 24th, 2014
If the income and wealth of every single American were to double over the next decade in REAL terms, then in a decade, the amount of measured poverty would remain unchanged. You’d also very likely see no change in inequality according to the way most people talk about it, i.e. “the income share of the […]
Posted in Inequality, Standards of Living on Sep 2nd, 2014
This article from the Wonkblog (the Vox folks’ old stomping grounds) argues that America has a growing food inequality problem. Let’s not dispute that claim. With growing income inequality it would not at all be surprising to see consumption inequality follow-suit, even if you expect it to be less dramatic. But awkwardly, the article vaguely references […]
Posted in Inequality on May 8th, 2014
Even if we accept that some important measures of inequality have increased in the United States (and ignoring the increases elsewhere), has anyone actually demonstrated that this is any kind of a problem? And when I say problem, I don’t mean that some people don’t like it, or that it’s because the authors of such […]
Posted in Inequality, Methodology on Apr 25th, 2014
Yes, I said the “R’ word. In order to persuade folks about the problems of “inequality” it would of course be nice to: Define precisely what inequality is. Are we talking about absolute inequality? Relative inequality. Tell us how we can actually measure it. Follow the SAME people over time. I’m sorry, but there is […]
Posted in ethical foundations, Inequality, Taxation on Apr 24th, 2014
He just wants to fix it. No comments from this peanut gallery. But Scott Sumner hits a 600 foot homer, do read the whole thing: Here’s what Yglesias misses. Unequal consumption matters because of opportunity cost—another bedrock of economics. The resources that went into that $200 million yacht could have produced lots of other goodies […]
Posted in Inequality, You Can't Have it Both Ways on Feb 6th, 2014
The causes of income inequality are numerous, complex and poorly understood. Therefore I am going to present an entirely simplified thought experiment that would “solve” the problem and then take myself really seriously in terms of advancing the idea. We should endorse the immediate and rapid end of Harvard and any other elite university in […]
Posted in Economic Illiteracy, Economics Problems, Economists, Inequality, Price Controls, Taxation on Dec 14th, 2013
Try this on for size: Evidence indicates that the price elasticity of demand for labor is quite high, at least 3. That is, an increase in average wages of 1% would lead to at least a 3% decline in the number of hours of work demanded by employers. Labor economists believe, however, that the price […]
Posted in ethical foundations, Inequality, Methodology on Oct 1st, 2013
For those of you looking for good reasons to support progressive taxation (note that is different than asking one group to pay more, we are asking them to pay more than more), I would suggest you stay away from the idea that “a dollar is worth more to a poor person than a rich person.” For starters, […]
Posted in Economic Illiteracy, Inequality, Price System on Sep 25th, 2013
I’ve been met by two common complaints lately. First that the rich have undue political power in America. Second, that the poor have too little labor market power. Both may be true. I don’t know. But then riddle me these: (1) If the rich have so much influence, then how come the vast majority of […]
