Celebrating humanity's flourishing through the spread of capitalism and the rule of law
05 Jun 2015 Leave a comment
in labour economics, sports economics Tags: baseball, superstar wages, superstars, top 0.1%, top 1%
Why Baseball Players Are Actually Underpaid theatlantic.com/business/archi… | http://t.co/qBgcmxLWca—
Charts and Maps (@ChartsandMaps) April 04, 2015
Major league baseball salary growth is slowing http://t.co/Jw6gYG1ylQ—
Charts and Maps (@ChartsandMaps) April 04, 2015
Baseball salaries hit a record high http://t.co/AfvlMEVHbf—
Charts and Maps (@ChartsandMaps) April 12, 2015
05 Jun 2015 Leave a comment
in labour economics, occupational choice, politics - USA, Public Choice Tags: vast right-wing conspiracy, voted demographics
There were 2,412 donations from Economists, in the last two election cycles. They gave 3 times as often to Democrats. http://t.co/c8tnQ9Vv15—
Justin Wolfers (@JustinWolfers) June 03, 2015
via How Democratic or Republican is your job? This tool tells you. – The Washington Post.
05 Jun 2015 Leave a comment
in occupational choice, politics - USA, population economics, Public Choice Tags: campaign finance regulation, voted demographics
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
05 Jun 2015 Leave a comment
in labour economics, minimum wage, poverty and inequality, welfare reform Tags: child poverty, family poverty, living wage, welfare state
Tough times? On #MayDay, compare % of low-paid #workers in yr country bit.ly/1EFrrV7 #LabourDay http://t.co/jNBrmjcom9—
(@OECD) May 01, 2015
Working for minimum wage? See how your country compares, then read oe.cd/mw2015 ( PDF) #wages http://t.co/DJsLYawtfw—
(@OECD) May 06, 2015
04 Jun 2015 Leave a comment
in economic history, labour economics, unions Tags: British economy, France, Germany, Italy, trade union density, union power
Figure 1: French, German, Italian and British trade union densities, 1960 – 2013
Source: OECD Stat Extract
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.
03 Jun 2015 Leave a comment
in economic growth, economic history, job search and matching, labour economics, labour supply, macroeconomics, unemployment Tags: Eurosclerosis, France, Germany, Italy
Figure 1: French, German and Italian unemployment rates, 1956 – 2013
Source: OECD StatExtract.
03 Jun 2015 Leave a comment
in economic history, labour economics, politics - Australia, politics - New Zealand, politics - USA, unions Tags: the withering away of the proletariat, union power, union wage premium
The economics of low wages: When what comes down doesn’t go up econ.st/1zlP1G0 http://t.co/AujgeDIAUX—
The Economist (@EconEconomics) May 02, 2015
03 Jun 2015 Leave a comment
in gender, labour economics, labour supply, welfare reforms Tags: U.S welfare reforms
The share of poorly educated single mothers with earnings rose from 49 percent in 1995 to 64 percent in 2000. This group was thought to be the least employable.
Employment gains of welfare reform’s early years have disappeared: bit.ly/19HTGBh http://t.co/4IRuqi6x7X—
Center on Budget (@CenterOnBudget) June 28, 2013
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”.
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
02 Jun 2015 Leave a comment
in discrimination, economics of media and culture, gender, labour economics, Public Choice Tags: Age of Enlightenment, maps, racial discrimination, racial tolerance, racism
01 Jun 2015 Leave a comment
in applied price theory, discrimination, economic history, entrepreneurship, international economics Tags: entrepreneurial alertness, racial discrimination, sex discrimination
Great excerpt on #immigration as #development from @bill_easterly's Tyranny of Experts @AlexNowrasteh @m_clem http://t.co/5eruOdEcGm—
David Bier (@myfreesociety) May 09, 2014
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.
A History of the Alt-Right
Econ Prof at George Mason University, Economic Historian, Québécois
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Scholarly commentary on law, economics, and more
Beatrice Cherrier's blog
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
Why Evolution is True is a blog written by Jerry Coyne, centered on evolution and biology but also dealing with diverse topics like politics, culture, and cats.
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
A rural perspective with a blue tint by Ele Ludemann
DPF's Kiwiblog - Fomenting Happy Mischief since 2003
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
The world's most viewed site on global warming and climate change
Tim Harding's writings on rationality, informal logic and skepticism
A window into Doc Freiberger's library
Let's examine hard decisions!
Commentary on monetary policy in the spirit of R. G. Hawtrey
Thoughts on public policy and the media
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Politics and the economy
A blog (primarily) on Canadian and Commonwealth political history and institutions
Reading between the lines, and underneath the hype.
Economics, and such stuff as dreams are made on
"The British constitution has always been puzzling, and always will be." --Queen Elizabeth II
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
WORLD WAR II, MUSIC, HISTORY, HOLOCAUST
Undisciplined scholar, recovering academic
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Res ipsa loquitur - The thing itself speaks
In Hume’s spirit, I will attempt to serve as an ambassador from my world of economics, and help in “finding topics of conversation fit for the entertainment of rational creatures.”
Researching the House of Commons, 1832-1868
Articles and research from the History of Parliament Trust
Reflections on books and art
Posts on the History of Law, Crime, and Justice
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Exploring the Monarchs of Europe
Cutting edge science you can dice with
Small Steps Toward A Much Better World
“We do not believe any group of men adequate enough or wise enough to operate without scrutiny or without criticism. We know that the only way to avoid error is to detect it, that the only way to detect it is to be free to inquire. We know that in secrecy error undetected will flourish and subvert”. - J Robert Oppenheimer.
The truth about the great wind power fraud - we're not here to debate the wind industry, we're here to destroy it.
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
Utopia, you are standing in it! 
Recent Comments