Paul Krugman notes that average household income has grown markedly less than GDP per household since 1973. He discusses the two most important factors. The cost of employee benefits (health insurance) have increased more than wages and are not counted in personal income, and household income is top coded — the very highest incomes are […]
Hat tip Mark Thoma for Brad Delong’s catch of the ‘can’t hire workers’ complaint without checking for real reasons or facts: Quote: Grasping for Reality about Labor Market Conditions Fresno is not a microcosm of the US. Brad DeLong explains why “it has never been wise to generalize from the state of Fresno’s labor market […]
I wasn’t going to mention Melissa Mia Hall’s death here—this is economics and politics, not sf—but now it is clear that, as usual, there is an overlap: If she had seen the doctor, most likely he would have suspected more than a pulled muscle and would have ordered a life-saving EKG. As Texas lawyer, writer […]
by Beverly Mann Roger Vinson, Sophism King Federal District Judge Roger Vinson’s opinion issued the other day ruling the Healthcare Act an unconstitutional overreach by Congress is so replete with sophisms that it’s hard pick the most ridiculous of them. But my candidates are: “[W]hat if two of the purported “unique” factors — inevitable participation […]
by Dale Coberly Eyes on the Prize A Social Security summary. We have had twenty years and a billion dollars spent by Pete Peterson and friends telling the people that Social Security is going broke and will create huge deficits that will kill the economy and be a crushing burden to the young. Peterson has […]
by Mike Kimel Prices and Quantity for Whale Oil and Whale BoneCross posted at the Presimetrics blog. The following graph shows the price and quantity of Sperm whale oil (which is actually more of a wax). Figure 1 The positive correlation is a bit of a problem, and the fact that Quantity seems to lead […]
Snow today and tomorrow Reporting in so far from Mass., Rhode Island, Ohio, New York, Michigan, Illinois, on the snow storm surging across a third of the US. No pictures yet. Dan B. says: I’ve had enough. Between plowing my office, the shop, the home and mom’s. Then snow blowing the piles to make room […]
Just how easy is it to use FRED ? I will find out starting four minutes ago, I am trying to set up a FRED account and generate a graph of interest (CPI inflation and nominal wage inflation plotted on time). I have an account. 19 minutes in. I have downloaded data. Not the data […]
The NYT reports today of further developments in the Middle East. Jordan’s Royal Palace says the king has sacked his government in the wake of street protests and has asked an ex-army general to form a new Cabinet. King Abdullah’s move comes after thousands of Jordanians took to the streets — inspired by the regime […]