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Category Archive for 'Standards of Living'

►1967 – one in 25 families earned $100k in today’s dollars ►2013 –22.5 % of families earned $100k (up 2% over 2008) ►1967 – 9% families earned $75k in today’s dollars ►2013 –34.4% of families earned $75k (up 3% over 2008) ►1967 – 16.3% of families earned less than $15,000 and 27.7% earned less than […]

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One of the great ones, a former student of mine, gets a hearty shout out from Marginal Revolution today.I’ll leave it for readers to evaluate the ideas Dan summarizes there. Per usual, as much as I think I agree with the general gist of the argument, I think there are also reasons to be worried […]

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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 […]

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This time on Ebola. So we can’t be surprised about the current Ebola outbreak. We can’t lament the fact that there’s no cure or that it’s an unstoppable and violent virus when remedies could be expedited; we just don’t prioritize them over other, more potentially profitable health problems. As long as we perpetuate this global […]

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Humans are to electricity like fish are to water … or something close to it. Electricity has become so vital to our lives, yet so reliable, that we hardly think about it, perhaps even as we pay our monthly electricity bills. reflecting on our reliance upon electricity may lead one into a paradox, and it […]

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The federal government collected $350 billion from corporations in corporate income taxes last year. Economists have long understood and explain that the US federal (and state) corporate income tax rates are at the same time both too high and too low. Why do we say this? Well, the tax rate is, at the margin, very […]

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Coming up with a policy to deal with “climate change” (assume we need one for now) requires that we come up with some estimate of how much we care about future generations. There is simply no avoiding that. In all the sciency-goodness out there, I see very little discussion of this – it is merely […]

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A popular canard of the “progressive” line of thinking is that interest rates are a tool of exploitation – yet another in the long line of misunderstood stories of oppressors versus oppressed. To suggest that interest is unique to capitalism or comes from capitalism is in itself a laughable claim, particularly since nothing like capitalism […]

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This is a true story. My income today is 9% lower (in pure nominal terms) than it was a full seven years ago in 2006. Furthermore, if you would compute my expected lifetime income path like our dear “leaders” in DC do, and you would have suggested that my income each year since 2006 “should” […]

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Since the 1950s, it is clear that American incomes have skyrocketed, and in fact I have argued in classes for years that our income understates this by a good deal. Yet, there is a not insignificant number of laymen and experts alike that believe Americans are no more happy today than they were in the […]

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