Trading across the Mexican, Puerto Rican and US borders – World Bank Doing Business rankings, 2015

Source: World Bank Doing Business database 2015.

Much more than a high minimum wage – Puerto Rican, Mexican and U.S. Doing Business rankings 2015

Having a high minimum wage is the least of the problems that the US territory of Porto Rico has when you consider reasons from its recent sovereign default. It owes about US$70 billion. It is a terrible place to do do business – worse than Mexico! Mexicans find it easier to export to the USA!

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Source: Doing Business Project – World Bank Group.

@OwenJones84 @K_Niemietz Ease of Doing Business in Latin America and the Caribbean – World Bank rankings

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Source: World Bank Doing Business Database 2015.

@OwenJones84 @K_Niemietz GDP per capita has not more than doubled @chavezcandanga

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Source: The Conference Board. 2015. The Conference Board Total Economy Database™, May 2015, http://www.conference-board.org/data/economydatabase/

US, Danish, British, Canadian, Australian and New Zealand tax and social security burden net of cash benefits as a % of labour costs, one-earner married couple with two children since 2000

For some reason the Labour government in New Zealand in the mid-2000s could not bring itself to admit it was introducing a huge tax cut for families. To avoid admitting it ever gave a tax cut, that Labour government called the huge family tax credit introduced in 2004 and 2005 Working for Families.

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Source: Taxing Wages 2015 – OECD 2015

The above data does not include the effects of GST and VAT.

@BernieSanders MRI rationing – US v. Single-payer UK, Canada and Denmark

Single payer health insurance systems may have their advantages but one of which is not ready access to an MRI scan in the UK, Denmark or Canada.

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Source: OECD Health Statistics.

Remember that those aged over 65 in the USA are covered by Medicare; the poor and welfare beneficiaries are covered by Medicaid; and children of the working poor are covered by CHIPS.

I am told that dogs to get an MRI scan in Canada far quicker than humans. This is because dog owners can pay for the MRI scan. Private health insurance is unlawful in 9 of the 10 Canadian provinces.

There is considerable medical tourism from Canada to the USA, including by politicians who passionately support the single-payer system.

The Inability to Understand Exponential Growth

Source: EconomicPolicyJournal.com: The Inability to Understand Exponential Growth…

Skills for growth: human capital composition and economic performance

A good analysis based on Schumpetarian endogenous growth theory.

Skills and Work

By Fabio Manca.

The role played by human capital and skills in fostering economic growth and technological progress has been the focus of a large strand of economic literature for decades. That said, at the beginning of the century, economists were still struggling to clearly pin down the contribution of human capital on the economic growth of a large sample of countries.

In 2001, for instance, Lant Pritchett was still wondering: “Where has all the education gone?” when referring to the weak and sometimes contradictory macroeconomic empirical evidence of a large collection of panel studies on education and growth.

Partly as a reaction to such puzzling ‘absence-of-results’, more recent empirical literature (Acemoglu et al. (2006), Vandenbussche et al. (2006), Aghion et al. (2009) or Papakostantinou (2014)) argued that the composition of a country’s human capital (e.g. the share of skilled over unskilled workers) rather than average measures of…

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Labour force participation rates of US, UK, Australian and New Zealand male workers aged 65 to 69 since 1960

Up until the early 1990s, New Zealand had a universal old age pension that was paid from the age of 60. There was no means test or assets test. The eligibility age for this old age pension was increased to age 65 over the course of the 1990s and early 2000s. It obviously showed up in the labour supply of workers aged 66 and over in New Zealand after the change in the eligibility age.

Data extracted on 05 Feb 2016 04:49 UTC (GMT) from OECD.Stat.

Labour force participation rates of US, UK, Australian and New Zealand workers aged 60 to 64 since 1960

Up until the early 1990s, New Zealand had a universal old age pension that was paid from the age of 60. There was no means test or assets test. The eligibility age for this old age pension was increased to age 65 over the course of the 1990s and early 2000s. It obviously showed up in the labour supply of workers aged 60 to 64 in New Zealand both before and after the change in the eligibility age.

Data extracted on 05 Feb 2016 04:49 UTC (GMT) from OECD.Stat.

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