Hostage Uses Pizza Hut App to Order a Police Rescue
13 Jun 2015 Leave a comment
in economics of crime, law and economics, politics - USA Tags: crime and punishment, entrepreneurial alertness
Hostage Uses Pizza Hut App to Order a Police Rescue popularmechanics.com/default/a15405… http://t.co/gxFq0zqBCn—
Popular Mechanics (@PopMech) June 10, 2015
Entrepreneurial alertness and riot shields
12 Jun 2015 Leave a comment
in economics of media and culture Tags: entrepreneurial alertness
TIL America Online is still in business
12 Jun 2015 Leave a comment
in economic history, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, entrepreneurial alertness, market selection
After 18 years of acquisitions, sales, and spinoffs, AOL is still holding its own bloom.bg/1IwBaQp http://t.co/Qjwd94THPB—
Bloomberg VisualData (@BBGVisualData) May 17, 2015
Richard Branson has announced a great paid leave policy for .2 percent of his workers
11 Jun 2015 Leave a comment
in discrimination, entrepreneurship, gender, labour economics, labour supply, occupational choice, politics - Australia, politics - New Zealand, politics - USA Tags: entrepreneurial alertness, maternity leave, paternity leave, Richard Branson
The US share market since 1900
10 Jun 2015 Leave a comment
in business cycles, economic growth, economic history, entrepreneurship, financial economics, macroeconomics Tags: active investing, efficient market hypothesis, entrepreneurial alertness, passive investing
Here’s how Warren Buffett sees the stock market read.bi/1HsUe1p http://t.co/Zm6fDTYpf9—
BI Chart of the Day (@chartoftheday) April 23, 2015
Vintage McDonald’s Advertisement
10 Jun 2015 Leave a comment
in economic history, entrepreneurship Tags: economics of advertising, entrepreneurial alertness, McDonald's
Vintage McDonald’s Advertisements in the 1960s http://t.co/XnKaW8Burn—
History Pics (@HistoryPixs) February 24, 2014
The rising gales of creative destruction in brewing
09 Jun 2015 Leave a comment
in economic history, economics of regulation, entrepreneurship, health economics, industrial organisation, survivor principle Tags: alcohol regulation, beer brewing, creative destruction, entrepreneurial alertness, innovation
Breweries in the US http://t.co/rcYlpmJspa—
Charts and Maps (@ChartsandMaps) April 11, 2015
Should the New Zealand superannuation fund try to beat the market?
09 Jun 2015 Leave a comment
in entrepreneurship, financial economics, politics - New Zealand Tags: active investing, ageing society, demographic crisis, efficient markets hypothesis, entrepreneurial alertness, New Zealand superannuation fund, old age pensions, passive investing, retirement savings
Most mutual funds still can't beat their benchmark read.bi/1GkTig1 http://t.co/r7ezoDGJbV—
BI Chart of the Day (@chartoftheday) June 03, 2015
Rise of private R&D and the fall of public R&D
06 Jun 2015 Leave a comment
in applied price theory, economic history, entrepreneurship, industrial organisation, politics - USA, rentseeking, survivor principle, technological progress Tags: creative destruction, entrepreneurial alertness, private R&D, public R&D, R&D
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”.
The market erodes discrimination
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
Creative destruction in digital devices
01 Jun 2015 Leave a comment
in economics of media and culture, entrepreneurship, industrial organisation, survivor principle, technological progress Tags: cell phones, creative destruction, entrepreneurial alertness, PCs, smart phones, The Great Enrichment
1993 vs 2013: http://t.co/tdnNqmRmcS—
History Pics (@HistoryPixs) January 08, 2014
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.
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