Celebrating humanity's flourishing through the spread of capitalism and the rule of law
24 Jul 2016 Leave a comment
in economic history, economics of education, human capital, labour economics Tags: Australia, Canada, France, Germany, Italy, tertiary educational attainment.
The British, Australians, and Italians experienced strong growth in tertiary attainment since the year 2000. In the case of the Italians, it was from a low base. There is still a big difference in tertiary attainment between English-speaking and other countries.
Source: OECD Factbook 2015-2016.
24 Jul 2016 1 Comment
in economic growth, economic history, labour economics, macroeconomics, politics - New Zealand, unions Tags: economic reform, Employment Contracts Act, employment protection laws, employment regulation, Leftover Left, neoliberalism, pessimism bias
Source: Low Wage Economy | New Zealand Council of Trade Unions – Te Kauae Kaimahi, with extra annotations by this blogger.
23 Jul 2016 Leave a comment
in discrimination, economics of education, gender, labour economics, occupational choice Tags: gender wage gap
20 Jul 2016 Leave a comment
in economics, industrial organisation, Joseph Schumpeter, labour economics, politics - USA, population economics, technological progress Tags: creative destruction
19 Jul 2016 Leave a comment
in economic history, human capital, industrial organisation, labour economics, occupational choice, politics - Australia, poverty and inequality Tags: Australia, CEO pay, superstar wages, superstars, top 1%, top incomes
Australia has had a working rich for a long time now. Australian top income earners are top wage earners. They are athletes, celebrities, business executives and in the professions.
Source: The World Wealth and Income Database.
18 Jul 2016 Leave a comment
in applied welfare economics, economic history, human capital, industrial organisation, labour economics, occupational choice, politics - USA, poverty and inequality, survivor principle Tags: CEO pay, entrepreneurial alertness, superstar wages, superstars, top 1%, top incomes
The rich in the USA long ago became a working rich; most top incomes are from wages and salaries.
Source: The World Wealth and Income Database.
17 Jul 2016 Leave a comment
in economic history, human capital, labour economics, occupational choice, politics - New Zealand, poverty and inequality Tags: Leftover Left, pessimism bias, top 1%, top incomes, Twitter left
Max Rashbrooke was good enough to remind us that the 2013 update of New Zealand top income shares came online a few days ago.
As is well known to everyone except those obsessed with top income shares, New Zealand top income shares have not changed much since the late 1980s. They are now no higher than in the good old days when New Zealand was an egalitarian paradise in their eyes.
Source: The World Wealth and Income Database.
11 Jul 2016 Leave a comment
in gender, labour economics, labour supply Tags: female labour force participation, female labour supply, part-time work, social insurance, taxation and labour supply
To account for full-time work being 35 hours per week in some countries but 40 hours others I have included both in the chart below. Not many Dutch women work full-time.
Data extracted on 11 Mar 2016 14:08 UTC (GMT) from OECD.Stat.
11 Jul 2016 Leave a comment
in Alfred Marshall, Gary Becker, history of economic thought, human capital, labour economics
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10 Jul 2016 Leave a comment
in applied welfare economics, economic history, economics, politics - New Zealand, poverty and inequality Tags: The Great Enrichment, The Great Escape
06 Jul 2016 Leave a comment
in economic growth, economics of education, human capital, labour economics, macroeconomics Tags: endogenous growth theory, graduate premium
Some countries have experienced large increases in the number of young people graduating from University when compared to their parents. Germany and the USA aside, all countries have experienced a noticeable increase in young adults with tertiary degrees.
Source: Education at a Glance 2015 – © OECD 01-01-2015.
If human capital is such a major driver of economic growth, should not these countries with large increases in tertiary educated workers be anticipating a growth spurt? The gaps in tertiary attainment across the OECD are much less than they used to be for young adults. Ireland’s burst in tertiary educated workers was after the Celtic Tiger years, not before or during.
Source: Education at a Glance 2015 – © OECD 01-01-2015.
06 Jul 2016 Leave a comment
in economics of love and marriage, labour economics, labour supply, poverty and inequality, welfare reform Tags: child poverty, family poverty, single mothers, single parents
Looks like the greed of the top 1% was targeted exclusively as single parents since the 1980s. Child poverty in two-parent families has not risen much at all. These households often have jobs and will presumably be under the jackboot of neoliberalism stripping away their bargaining power through the decimation of unions and the introduction of the Employment Contracts Act. Despite these horrors, family poverty did not increase much if there are two parents in the house.
Source: Bryan Perry, Household Incomes in New Zealand: trends in indicators of inequality and hardship 1982 to 2014 – Ministry of Social Development, Wellington (August 2015), Table H.4.
Bryan Caplan argues that there is an undeserving poor if they fail to follow the following reasonable steps to avoid poverty and hardship:
05 Jul 2016 Leave a comment
in human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: creative destruction, entrepreneurial alertness, top 1%
The average top income in New Zealand is that of a professional, executive or entrepreneur.
Source: The World Wealth and Income Database.
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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