Utopia, you are standing in it!

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Not a lot of point for a 2nd earner in an ordinary family going back to work in the English-speaking countries once you consider the childcare fees for a 2-year-old and a 3-year-old. These calculations were released today in Paris in the OECD’s Going for Growth 2016. Source: Economic Policy Reforms: Going for Growth – …

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Originally posted on Orderstatistic:
Larry Summers has an excellent review of Thomas Piketty’s Capital in the Twenty-First Century. In many ways, his reaction is similar to Greg Mankiw’s. He agrees completely with the factual record but does not fully endorse Piketty’s proposed explanation for the patters or Piketty’s policy recommendations. Some excerpts that caught my…

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Originally posted on owenzidar:
The NY Times has a nice feature that compares the Greek economy from 2007-2012 to that of the US from 1929-1934. Besides the disturbing similarity, the most notable feature of this figure is how different the government spending response has been. Although it is hard to know the exact counterfactual, austerity really…

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Originally posted on NEP-DGE Blog:
By Sagiri Kitao http://d.repec.org/n?u=RePEc:eti:dpaper:16013&r=dge In an economy with aging demographics and a generous pay-as-you-go social security system established decades ago, reform to reduce benefits is inevitable unless there is a major increase in taxes. Often times, however, there is uncertainty about the timing and structure of reform. This paper explicitly…

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