US top 1% turn about to be such lazy devils. Class war cancelled once again
14 Jun 2018 Leave a comment
in applied welfare economics, politics - USA, poverty and inequality Tags: top 1%
J.D. Vance on Hillbilly Elegy: A Memoir of Family and Culture in Crisis – Full interview
06 Jun 2018 Leave a comment
in economic history, human capital, labour economics, labour supply, minimum wage, occupational choice, poverty and inequality Tags: success sequence
European houses are really, really small
31 May 2018 Leave a comment
in labour economics, poverty and inequality
How do workers put food on table when they drop out of the labour force after unemployment insurance cuts?
27 May 2018 Leave a comment
in applied price theory, labour economics, labour supply, politics - USA, poverty and inequality, unemployment Tags: social insurance, unemployment insurance, welfare state
US child poverty rates depend on how you measure it
25 May 2018 Leave a comment
in labour economics, poverty and inequality, welfare reform Tags: child poverty, family poverty
European houses are really small
24 May 2018 Leave a comment
in labour economics, poverty and inequality
Down and out in America 2005
24 May 2018 Leave a comment
in labour economics, poverty and inequality, welfare reform Tags: The Great Enrichment
The last word on Piketty
16 May 2018 Leave a comment
in applied price theory, development economics, economic history, history of economic thought, labour economics, poverty and inequality Tags: Deirdre McCloskey
#Marx200 The private sector net labour share has been stable for decades in NZ! Our local top 1% should be drummed out of the international ruling class for just not trying, much less succeeding in any way in extracting more labour surplus to ensure the rich get richer and the poor get poorer
09 May 2018 Leave a comment
in economic history, politics - New Zealand, poverty and inequality
Source: Benjamin Bridgman & Ryan Greenaway-McGrevy (2016) The fall (and rise) of labour share in New Zealand, New Zealand Economic Papers, DOI: 10.1080/00779954.2016.1219763
To quote their abstract
The share of national income going to labour in New Zealand fell substantially between the 1970s and the end of the century. Approximately half of this decline was then recovered in the following decade. In this paper, we argue that the decline from the mid-1980s onwards is due to public sector reforms. Corporatisation re-orientated the public trading enterprises away from a broad range of social and trading objectives towards generating profits, while increased fiscal discipline in non-market government departments reduced payroll costs. Consistent with this hypothesis, we show that most of the decline in aggregate labour share from the mid-1980s onwards can be attributed to a significant fall in the labour share of the public sector. To more formally analyse the effects of the reforms, we build a simple model of structural transition. The model yields several predictions that are consistent with observed trends in sectoral labour share. First, there is a large and permanent decline in public sector labour share after the reforms. Second, there is a smaller, short-run decline in private sector labour share that is reversed over the long run. The model can, therefore, explain not only the decline in aggregate labour share from the mid-1980s onwards; it can also explain the partial recovery in labour share beginning in 2002.
Utopia, you are standing in it! 
Recent Comments