It’s always the same map. Here from Brad Delong is the map of the percentage who were slave by county in 1861 here is the corresponding area of a map of intergenerational relative income mobility by county from R Chetty 2014 (warning pdf) update: link updated thanks to Amanda. thanks

by J Tzimiskes (who is currently juggling a job in the private sector while studying for a Wayne State MBA, getting a blog post or two in when he can. Previously, he worked for New York State and  holds a Masters in Political Science from University at Albany and a biology degree from University of Toronto.  He […]

Dean Baker at the Center for Economic and Policy Research offers a smackdown of Abby Huntsman’s warnings to millenials on MSNBC. For today I want to highlite several points. Dean Baker offers essentially Dale’s Northwest Plan as a way to deal with any problems of funding. Center for Economic Policy and Research lifted from an […]

I sense that we are witnessing a special moment in economics with Paul Krugman’s article today, Notes on Piketty. He is exploring the new work by Thomas Piketty, Capital in the 21st century. He focuses on the difference between r, the rate of return on assets, and g, the overall rate of economic growth. When […]

I remember a couple of years ago, when I was a constant commentator on Mark Thoma’s blog, I said that low wages and rising inequality were damaging the economy. Finding that comment is like finding a needle in a haystack. But Mark Thoma criticized the remark saying that inequality was necessary in the economy. Others […]

In case you haven’t seen Charles Gaba’s great website ACAsignups.net, you really need to see it. It is the best source available for tracking Obamacare enrollments, covering all categories of signups, including Medicaid, the federal and state exchanges, off-exchange signups, and estimated under-26ers. One of the most notable achievements of Obamacare is in the President’s […]

Usually, I would leave this type of post to the Steves, Jazz, Ken, Roberts, Edwards, Mikes, Thomas, etc. of Angry Bear Blog and stick to my manufacturing expertise to which flow the big bucks for me; but, this is in laymen’s terms and it makes sense to me at least.  Arend Brett’s latest article on […]

James Kwak at Baseline Scenario writes about wealth inequality and supports systematic redistribution. And our own Steve Roth wrote on this too here at Angry Bear. What is the propensity to consume by capital income? Well, for every dollar of capital income, roughly 18% is being spent on consumption. (15% effective tax rate, 67% savings […]

by Joseph Joyce Riding the Waves   The volatility in emerging markets has abated a bit, but may resume in the fallout of the Russian takeover of the Crimea. The capital outflows and currency depreciations experienced in some emerging market nations have been attributed to their choice of policies. But their economic situations reflect the domestic […]

I’m surprised that nobody highlights what for me is the key takeaway from that report. They predict, with a $10.10/indexed increase: Low-end incomes increase $19 billion. High-end incomes decline $17 billion. For a net GDI increase of $2 billion. Table 1, page 2: Pie gets bigger, all that rot. The increase is presumably explained by […]