Utopia, you are standing in it!

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

This data tells more of a story than I expected. Firstly, New Zealand has not been catching up with the USA. Japan stopped catching up with the USA in 1990. Canada has been drifting away from the USA for a good 30 years now in labour productivity. Data extracted on 28 May 2016 05:15 UTC …

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 Markus Poschke and Barış Kaymak have just put out a paper arguing that increased social spending is a major driver of wealth inequality: Another important and often overlooked third factor is the rise in the generosity of government transfers since 1960, mostly due to the expansion of public pensions (social security) and the introduction of …

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1% to 1.5% is the usual estimate of bias in the consumer price index because of the introduction of new groups and quality upgrades in existing goods. I have adjusted the consumer price index inflation rate back to 1970 in New Zealand by 1.5% to see how long ago prices became stable. I know this …

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https://twitter.com/RobinHoodTax/status/648963471690698752/photo/1 @RobinHoodTax @helenkellyCTU notice great stagnation didn't touch female earnings. Where is your gender analysis?http://t.co/WZXqKVdtYg — Jim Rose (@JimRose69872629) September 29, 2015 @RobinHoodTax @helenkellyCTU male wage stagnation coincided with closing gender wage gaphttp://t.co/SouDZ4dXC7@greencatherine @CHSommers — Jim Rose (@JimRose69872629) September 29, 2015 For Economic Justice, America Badly Needs Some Raises goo.gl/iA3Ecp #RobinHoodTaxUSA robinhoodtax.org/why http://t.co/0wx4kCpb4Q— Robin Hood …

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Summary of the 222 pages of MSD's Household Incomes report: kids are still missing out BIG time. #itsnotchoice http://t.co/4x7dm1O0Wg— Child Poverty NZ (@povertymonitor) August 13, 2015 AHC = after deducting housing costs BHC = before deducting housing costs ‘anchored line’: this is the line set at a chosen level in a reference year (now 2007), …

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Originally posted on Whitman ECON 101: Principles of Microeconomics:
Up to now, I personally think we are yet to come up with a more accurate and adequate way of measuring our welfare, our quality or standard of living, that is, how happy we feel in our lives or how enjoyable and satisfying our lives are. If…

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Maxim Pinkovskiy and Xavier Sala-i-Martin last year suggested that national accounting estimates of poverty should be adjusted for the evolution of satellite-recorded night-time lights. I agree from personal experience. In India between 1994 and 2010, its survey income grew by 29% but its GDP per capita more than doubled during this time. We see that lights …

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The graph below shows two different series for unemployment in the 1930s in the USA: the official BLS level by Lebergott; and a data series constructed famously by Michael Darby. Figure 1: US unemployment rate, 1929 – 40: Darby and Lebergott estimates Source: Robert Margot (1993). Darby includes workers in the emergency government labour force …

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Only in 2013 did the US statistical agencies start publishing data on intellectual property products under the heading of investment. Previously, these investments were immediately expensed, which understated investment and overstated productivity. You will note the sharp rise in intellectual property investment during the 1990seconomic boom. The collapse of the IT bubble in 2000 coincided …

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