Exactly one person identified themselves as a sociologist & gave money to Republicans (in the past 2 election cycles) http://t.co/JP9RAoRgiF—
Justin Wolfers (@JustinWolfers) June 04, 2015
Is there a Republican sociologist in America?
05 Jun 2015 Leave a comment
in occupational choice, politics - USA, population economics, Public Choice Tags: campaign finance regulation, voted demographics
Economists are actually centre-left but are conservative compared to anthropologists
04 Jun 2015 Leave a comment
in economics, labour economics, occupational choice, personnel economics, politics - Australia, politics - New Zealand, politics - USA Tags: academic bias, voter demographics
Verdant Labs published charts on the average political affiliations of various professions. Data from the Federal Election Commission on contributions to political parties was used that information as a proxy for political views. The ratios are Democrats (blue) vs. Republicans (red).
via Chart: The most liberal and conservative jobs in America – The Washington Post.
Who among the top 1% and top 0.1% increased their share of income most between 1979 and 2005?
03 Jun 2015 Leave a comment
in economic history, entrepreneurship, financial economics, human capital, industrial organisation, labour economics, labour supply, occupational choice, survivor principle Tags: CEO pay, entrepreneurial alertness, Occupy Wall Street, separation of ownership and control, superstar wages, superstars, top 0.1%, top 1%, Twitter left
The members of the top 1% whose income increased the most between 1979 and 2005 were real estate professionals followed by financial professionals – see figure 1.
Figure 1: increase in share of national income (including capital gains) received by top 1% for each primary taxpayer occupation in top 1% between 1979 and 2005
Source: Jon Bakija, Adam Cole and Bradley T. Heim “Jobs and Income Growth of Top Earners and the Causes of Changing Income Inequality: Evidence from U.S. Tax Return Data”.
Figure 2 shows that the fastest-growing shares among the top 1% as in figure 1 are not necessarily the largest occupational group are those income earners. Moreover, their fortunes seem largely unrelated to each other.
Figure 2: Percentage of national income (including capital gains) received by top 1%, and each primary taxpayer occupation in top 1%
Source: Jon Bakija, Adam Cole and Bradley T. Heim “Jobs and Income Growth of Top Earners and the Causes of Changing Income Inequality: Evidence from U.S. Tax Return Data”.
The next members of the top 1% in terms of income growth were rather respectable group:professionals and scientists and arts, media and sports. The latter,arts, media and sports get a complete pass on their membership of the top 1% despite their great success in increasing their incomes since 1979 at the expense apparently on the bottom 99% if the Twitter Left is to be believed.
Figure 3: increase in share of national income (including capital gains) received by top 0.1% for each primary taxpayer occupation in top 0.1%between 1979 and 2005
Source: Jon Bakija, Adam Cole and Bradley T. Heim “Jobs and Income Growth of Top Earners and the Causes of Changing Income Inequality: Evidence from U.S. Tax Return Data”.
Arts, media and sports superstars are one of the fastest-growing members of the top 0.1% – see figure 3. Again, the arts, media and sports superstars get a complete pass on their membership of the top 0.1% from the Twitter Left. Most of the other occupations in the top 0.1% don’t strike me as anything other than working rich – see figure 3 and figure 4.
As with the top 1%, the top 0.1% of income earners are a mixed bag of occupations – see figure 4. Their fortunes are unrelated to each other terms of the forces driving there are increased incomes.
Figure 4: Percentage of national income (including capital gains) received by top 0.1%, and each primary taxpayer occupation in top 0.1%
Source: Jon Bakija, Adam Cole and Bradley T. Heim “Jobs and Income Growth of Top Earners and the Causes of Changing Income Inequality: Evidence from U.S. Tax Return Data”.
Unemployment by educational level and degree level
02 Jun 2015 Leave a comment
in business cycles, economics of education, human capital, job search and matching, labour economics, labour supply, macroeconomics, occupational choice, unemployment Tags: education premium, graduate premium
Don't listen to naysayers. College is worth it, even for so-so students. nyti.ms/1JC1ZiN http://t.co/Wnr5BnwumM—
The Upshot (@UpshotNYT) April 24, 2015
How much of the top 0.1% are now working rich in the USA, 1916–2013, and Canada, 1946–2007
01 Jun 2015 Leave a comment
in economic history, entrepreneurship, human capital, industrial organisation, labour economics, labour supply, occupational choice, survivor principle Tags: Canada, CEO pay, creative destruction, entrepreneurial alertness, super-entrepreneurs, superstar wages, superstars, top 0.1%, top 1%, working rich
Piketty and Saez (2003) concluded that a substantial fraction of the rise in top incomes was due to surging top wage incomes. They concluded that top executives (the ‘working rich’) replaced top capital owners (the ‘rentiers’) at the top of the income hierarchy.
That conclusion still holds for both the USA and Canada. The largest portion of the top 0.1% in both countries have become those earning wages. The top 0.1% are top wage earners who work for their livings founding, building or directing businesses.
Figure 1: percentage of top 0.1% with wages, salaries, pensions or entrepreneurial incomes, USA, 1916 – 2013
Source: Alvaredo, Facundo, Anthony B. Atkinson, Thomas Piketty and Emmanuel Saez, The World Top Incomes Database.
Figure 2: percentage of top 0.1% with incomes from interest, dividends and rents, USA, 1916 – 2013
Source: Alvaredo, Facundo, Anthony B. Atkinson, Thomas Piketty and Emmanuel Saez, The World Top Incomes Database.
Figure 3: percentage of top 0.1% with wage salary and pension incomes, business incomes and professional incomes, Canada, 1946 – 2007
source : Alvaredo, Facundo, Anthony B. Atkinson, Thomas Piketty and Emmanuel Saez, The World Top Incomes Database.
Figure 4: percentage of top 0.1% with dividend, interest or investment incomes, Canada, 1946 – 2007
Source: Alvaredo, Facundo, Anthony B. Atkinson, Thomas Piketty and Emmanuel Saez, The World Top Incomes Database.
Hardhats on construction sites were pretty optional back in the day
31 May 2015 Leave a comment
in economic history, health and safety, labour economics, labour supply, occupational choice Tags: Empire State Building, New York City, The Great Escape
The Empire State building is dedicated in NYC. Here's a cool construction photo of the building, May 1st, 1931. http://t.co/map6v6A5dI—
Classic Pics (@classicepics) May 30, 2015
Pay is always net of human capital accumulation
31 May 2015 Leave a comment
in economics of education, human capital, labour economics, labour supply, minimum wage, occupational choice, poverty and inequality Tags: College premium, education premium, internships, on-the-job human capital
The NYT must be slipping with "When Family-Friendly Policies Backfire”
27 May 2015 2 Comments
in discrimination, economics of regulation, gender, labour economics, occupational choice Tags: gender wage gap, maternity leave, offsetting behaviour, The fatal conceit, The pretence to knowledge, unintended consequences
The best part of the article is its frank admission about how bare the cupboard is in dealing with the impact of generous maternity leave on the gender gap. Maternity leave should not be too generous, should not be paid by employers but by taxpayers, and should extend to both men and women.
Male labour force participation has been in a long-term decline
24 May 2015 Leave a comment
in gender, labour economics, labour supply, occupational choice, unemployment Tags: labour demographics, labour force participation, male labour force participation, reversing gender gap
NEWS FLASH: The Labor Force Participation Rate for Men Has Been Steadily Trending Downward for the last 67 Years! http://t.co/N66WJJnHsF—
Mark J. Perry (@Mark_J_Perry) May 08, 2015
Why do middle-aged German men become sensitive new age guys?
24 May 2015 Leave a comment
in economics of love and marriage, labour economics, labour supply, occupational choice, population economics Tags: economics of family, Germany, household production, marital division of labour, marriage and divorce
The gender gap in housework narrows as men in Germany approach and enter retirement family-studies.org/how-mens-retir… http://t.co/5Q8IaHkSC4—
Inst. Family Studies (@FamStudies) May 04, 2015
The education premium illustrated
22 May 2015 1 Comment
in economics of education, human capital, labour economics, labour supply, occupational choice Tags: education premium
America’ s mums
20 May 2015 Leave a comment
in discrimination, economics of love and marriage, gender, labour economics, labour supply, law and economics, occupational choice Tags: economics of marriage, female labour falls participation, marriage and divorce, single mothers
America's moms: pewrsr.ch/1uJD07V by @pewresearch #MothersDay http://t.co/o8TIH9xWSH—
Neil Shah (@NeilShahWSJ) May 10, 2015
The geography of the global talent pool, now and 2030
19 May 2015 1 Comment
in economics of education, human capital, labour economics, labour supply, occupational choice Tags: College premium, economics of migration, graduate premium, tertiary education, university premium
The global talent pool has never been larger, will grow to 2030, read bit.ly/1Dg7heM (pdf) #education #stats http://t.co/aiIiTDbZt9—
(@OECD) April 24, 2015
Utopia, you are standing in it! 
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