Celebrating humanity's flourishing through the spread of capitalism and the rule of law
24 Sep 2015 Leave a comment
in economic history, politics - USA, poverty and inequality Tags: Occupy Wall Street, top 1%
https://twitter.com/Mark_J_Perry/status/646427815693434880/photo/1
We hear a lot about rising income inequality but Census data show it's been stable for 20 yrs
aei.org/publication/th… http://t.co/Cb2u0j97fv—
Mark J. Perry (@Mark_J_Perry) September 22, 2015
20 Aug 2015 Leave a comment
in applied price theory, human capital, income redistribution, labour economics, labour supply, politics - USA, poverty and inequality, Public Choice, rentseeking, sports economics Tags: expressive voting, Left-wing hypocrisy, Leftover Left, mass kidnappings, Occupy Wall Street, rational ignorance, rational irrationality, superstar wages, superstars, top 0.1%, top 1%
Ratio of Median Salary of Top 25 Highest Paid MLB Player to Avg. Worker Pay Increased from 100:1 to 700:1 Since 1988 http://t.co/5zLktBXS3D—
Mark J. Perry (@Mark_J_Perry) August 18, 2015
29 Jul 2015 Leave a comment
in sports economics Tags: CEO pay, Occupy Wall Street, superstar wages, superstars, top 0.1%, top 1%
Rising incomes in sports: Top salaries in baseball & basketball are higher than in football
bit.ly/1DEfFtc http://t.co/DUyJld5iah—
Max Roser (@MaxCRoser) July 21, 2015
The rising incomes of major league baseball players since 1890
Part of the inequality story in the USBy @VisualEcon http://t.co/m5GgaKGwSv—
Max Roser (@MaxCRoser) July 19, 2015
15 Jun 2015 Leave a comment
in applied welfare economics, economics of media and culture, income redistribution, movies, politics - USA, poverty and inequality, Public Choice, TV shows Tags: comedy, Left-wing hypocrisy, Leftover Left, Occupy Wall Street, top 1%, Twitter left
The 25 richest comedians (or why not to go into standup comedy) from @randal_olson randalolson.com/2015/03/04/top… http://t.co/cp3lSnuPOf—
Tyler Vigen (@TylerVigen) March 17, 2015
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”.
01 May 2015 Leave a comment
in applied welfare economics, labour economics, poverty and inequality Tags: capitalism and freedom, Left-wing hypocrisy, mass kidnappings, Occupy Wall Street, The Great Enrichment, top 1%
Mass kidnappings is the only reason why the Occupy activists are not dancing seen in the streets to celebrate the steady fall of poverty in New Zealand over the last 20 years but for the hick-up of the GFC.
15 Apr 2015 Leave a comment
in applied welfare economics, entrepreneurship, Marxist economics, politics - USA, Public Choice, Rawls and Nozick, rentseeking Tags: Occupy Wall Street, top 1%
This top 1% gets a pass from the Occupy activists
28 Nov 2014 Leave a comment
in income redistribution, liberalism, Marxist economics, politics - USA, rentseeking Tags: corporate welfare, Occupy Wall Street, rent seeking, tea party, top 1%
06 Nov 2014 Leave a comment
in labour economics, poverty and inequality, welfare reform Tags: bottom 1%, economics of personality traits, Occupy Wall Street, poverty and inequality, top 1%
The Occupy Wall Street protesters had free food provided by kitchens staffed by volunteers.
These self appointed representatives of the bottom 99% didn’t appreciate brushing shoulders with the bottom 1 percent of the social stratum:
The Occupy Wall Street volunteer kitchen staff launched a “counter” revolution yesterday — because they’re angry about working 18-hour days to provide food for “professional homeless” people and ex-cons masquerading as protesters.
For three days beginning tomorrow, the cooks will serve only brown rice and other spartan grub instead of the usual menu of organic chicken and vegetables, spaghetti bolognese, and roasted beet and sheep’s-milk-cheese salad.
They will also provide directions to local soup kitchens for the vagrants, criminals and other freeloaders who have been descending on Zuccotti Park in increasing numbers every day.
To show they mean business, the kitchen staff refused to serve any food for two hours yesterday in order to meet with organizers to air their grievances, sources said…
Overall security at the park had deteriorated to the point where many frightened female protesters had abandoned the increasingly out-of-control occupation, security- team members said.
05 Nov 2014 Leave a comment
in labour economics, poverty and inequality, welfare reform Tags: Bryan Caplan, do gooders, Occupy Wall Street, poverty and inequality, top 1%
Bryan Caplan drew up a nice list of factors that contribute to poverty
Caplan argues that there is an undeserving poor if they fail to follow the following reasonable steps to avoid poverty and hardship:
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