As you probably all know, social security is a transfer program, not a retirement program. Aside from eliminating the program entirely, which advocating for would have you removed from polite company, here are some things to consider about it. The system is in far better shape than Medicare. Medicare is the big elephant in the […]
Category Archive for 'Standards of Living'
… I wished that people could stop for a moment to celebrate the life and contributions of people like Norman Borlaug. He is probably the greatest “farmer” of all-time, and arguably has done more good for humanity than the entire combination of leaders and rulers who have ever walked the face of this Earth. If […]
Suppose World Total GDP, which now stands at apx. $70 trillion, grows at about only 2% per year (ignoring population for a moment). This means that over the next 100 years, GDP will double approximately three times (use the rule of 69.3!). If you think total growth will be 3%, not at all unlikely, it will […]
How do you feel about the increasingly popular meme of “Rich People Problems” or “Rich Country Problems?” I tend to be sympathetic to the intention of the meme – that the things we complain about or worry about are extraordinarily trivial when compared to the problems of people-times that were not as well-off as we […]
You might think the answer is easy, “Tax the owners of capital!” Of course, capital is highly mobile today, it will only be moreso in the future as better ways to identify and locate off-shore (or off-planet) will surely be discovered. You might say, “Tax the robots when they come in?” Remember your basic tax […]
Just finished the thoroughly enjoyable A History of Pi by Petr Beckmann. It is over 40 years old but has aged well. It’s more than just a math book: Then there is Roman engineering: the Roman roads, aqueducts, the Colosseum. Warfare, alas, has always been beneficial to engineering. Yet there are unmistakable trends in the engineering of […]
What the technological singularity implies for “how do the millions of people who do not own the machine” manage to eat?
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 […]
I think the modern concern about stagnation is entirely overblown. I am not arguing that it is not real or not happening, just that I think “we” care too much about it. Here is the latest illustration of someone worrying about stagnation and looking for reasons to be optimistic: Greg and Jill Henderson, founders of […]
►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 […]