The Great Escape = a big increase in life expectancy inequality

Image

How the welfare state reduces inequality

Would a living wage reduce poverty in America?

Only one line in this chart about India matters, ever

What happened when the rich got richer under capitalism?

The futility of increasing the minimum wage to reduce poverty

https://www.facebook.com/UnbiasedAmerica/photos/pb.123061011213236.-2207520000.1428903314./321903327995669/?type=3&src=https%3A%2F%2Ffbcdn-sphotos-d-a.akamaihd.net%2Fhphotos-ak-xpf1%2Fv%2Ft1.0-9%2F10885071_321903327995669_97470874276274507_n.jpg%3Foh%3Dac08be9e68c9c10376b445b6c1f3c3ec%26oe%3D55DD4EB6%26__gda__%3D1436042074_62b9a22e2b467800ad40d2a068ed8bf7&size=803%2C803&fbid=321903327995669

Everyone is at least 40% better off than 30 years ago and poverty has not increased

via A Guide to Statistics on Historical Trends in Income Inequality — Center on Budget and Policy Priorities.

Did poverty increase after the 1996 US Federal welfare reforms?

Poverty-fig3a

via The Top 3 Things You Need to Know About the 2013 Poverty and Income Data | Center for American Progress.

The US model does better for at least 85%, and in many cases 90%+

purchasing national income comparison by decile

via Do We Care About Income Inequality, or Absolute Well-Being?

HT:

Down and out in America in 2005 – Air Conditioning, Cable TV, and an Xbox

For decades, the U.S. Census Bureau has reported that over 30 million Americans were living in “poverty,” but the bureau’s definition of poverty differs widely from that held by most Americans.

In fact, other government surveys show that most of the persons whom the government defines as “in poverty” are not poor in any ordinary sense of the term. The overwhelming majority of the poor have air conditioning, cable TV, and a host of other modern amenities. They are well housed, have an adequate and reasonably steady supply of food, and have met their other basic needs, including medical care.

Some poor Americans do experience significant hardships, including temporary food shortages or inadequate housing, but these individuals are a minority within the overall poverty population.

Percentage of Poor U.S. Households Which Have Various Amenities

Amenities in Typical Households

Households with Air Conditioning

via What is Poverty in the United States: Air

Will a Handicapper-General delivers social justice at last?

Image

The Great Enrichment since 1979 in the USA

Over the past one-, two-, and three-decade periods, both middle class and poor households have experienced noticeable gains in living standards. Their gains are slower than those experienced by middle-income families in the earlier post-war era, but the gains are well above zero.

In 1980, in-kind benefits and employer and government spending on health insurance accounted for just 6% of the after-tax incomes of households in the middle one-fifth of the distribution. By 2010 these in-kind income sources represented 17% of middle class households’ after-tax income

…The broadest and most accurate measures of household income are published by the CBO. CBO’s newest estimates confirm the long-term trend toward greater inequality, driven mainly by turbo-charged gains in market income at the very top of the distribution. The market incomes of the top 1% are extraordinarily cyclical, however. They soar in economic expansions and plunge in recessions. Income changes since 2007 fit this pattern.

What many observers miss, however, is the success of the nation’s tax and transfer systems in protecting low- and middle-income Americans against the full effects of a depressed economy.

via Gary Burtless

Who benefits from a minimum wage increase in the USA

Embedded image permalink

HT David_Boaz’s Tweet – https://twitter.com/David_Boaz/status/477910953548197888?s=09

Roland Fryer: Racial Inequality in the 21st Century – The Declining Significance of Discrimination

Roland Fryer carried a gun at 14 as a member of the gang; worked extra jobs at college to pay off his father’s bail bondsman; and an assistant professor at Harvard at the age of 27. He is the sharpest economist around working on the economics of inequality and discrimination.

The Stigler diet is still as cheap as can be

The always excellent Matthew Kahn reminded me today of the Stigler diet: George Stigler’s famous 1945 journal article The Cost of Subsistence in the Journal of Farm Economics. Stigler posed this problem:

For a moderately active man (economist) weighing 154 pounds, how much of each of 77 foods should be eaten on a daily basis so that the man’s intake of nine nutrients (including calories) will be at least equal to the recommended dietary allowances suggested by the National Research Council in 1943, with the cost of the diet being minimal.

Stigler managed to find a nearly optimal daily diet of:

  • 1.6 pounds of wheat flour,
  • 0.3 pounds of cabbage,
  • 0.6 ounces of spinach,
  • 0.4 pounds of pancake flour,
  • 1.1 ounces of pork liver.

All of this food necessary to sustain health and weight of a moderately active man amounted to $0.16 per day in 1944, which is an annual cost of $39.93, not including leap years. A recent update for inflation put the annual cost of the Stigler diet at $561.43 in 2005. Not more than two dollars a day .

Stigler later concluded that the main issue about food consumption is a preference for a variety rather than a nutritional diet which could be obtained very low cost if you like cabbage, spinach, flour and a little bit of pork liver. For many years, pork liver was not available in my local supermarkets in Australia and New Zealand until recently when Asian buyers started to buy again.

photo

When various claims made about child poverty and children going without food, and adults too, the purpose of the Stigler diet in the calculations of the cost of subsistence is to show that it is actually extremely cheap to get the necessities of life in a capitalist society. Something more than either a lack of income in a modern welfare state or far from high prices of this extremely cheap, but spartan diet must be playing a role.

Previous Older Entries

Point of Order

Politics and the economy

New Historical Express

(Formerly Hatful of History)

Economics in the Rear-View Mirror

Archival Artifacts from the History of Economics

CAMERA UK

COMMITTEE FOR ACCURACY IN MIDDLE EAST REPORTING AND ANALYSIS

Truth on the Market

Scholarly commentary on law, economics, and more

Stockerblog

Philosophy, Politics, Culture from Barry Stocker, British philosopher based in Istanbul

Organizations and Markets

Economics of organizations, strategy, entrepreneurship, innovation, and more

John Quiggin

Commentary on Australian and world events from a socialist and democratic viewpoint

The Antiplanner

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

Pedestrian Observations

For Walkability and Good Transit, and Against Boondoggles and Pollution

Bet On It

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

Trade Diversion

Commentary on development, globalization, and trade by Jonathan Dingel.

Movie Nation

Roger Moore's film criticism, against the grain since 1984.

Conversable Economist

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.”

AwayPoint

Between An Island of Certainties and the Unknown Shore

Weapons and Warfare

History and Hardware of Warfare

fportier.wordpress.com/

Franck Portier's professional page

NZCPR Site

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

Anti-Dismal

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

Bowalley Road

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

History of Sorts

WORLD WAR 2,EIGHTIES,MUSIC,HISTORY,HOLOCAUST

Tudor Chronicles

News, reviews and talk all about the Tudors

Karl du Fresne

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

Roger Pielke Jr.

an undisciplined academic - @RogerPielkeJr on Twitter

Great Books Guy

Reading The Classics

@STILLTish. Gender Abolition

Examining Gender Identity ideology and its impact on Women's Sex based rights and Gay Rights. Exploring how this has taken such firm root in Western societies (Cognitive & Regulatory Capture).

200-Proof Liberals

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

What Paul Gregory is Writing About

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

Offsetting Behaviour

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

JONATHAN TURLEY

Res ipsa loquitur - The thing itself speaks

Conversable Economist

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

Barrie Saunders

Thoughts on public policy and the media

The Victorian Commons

Researching the House of Commons, 1832-1868

Coyote Blog

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

The History of Parliament

Blogging on parliament, politics and people, from the History of Parliament

Books & Boots

reflections on books and art

Legal History Miscellany

Posts on the History of Law, Crime, and Justice

Sex, Drugs and Economics

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

Climatism

Tracking Anthropogenic Climate Alarmism

FREEcology

Libertarian environmentalism

Doc's Books

A window into Doc Freiberger's library

%d bloggers like this: