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Tag Archives: inequality

Trudeau’s proposed speculation tax

Posted by Nick Falvo under BC, bubble, cities, economic thought, foreign investment/ownership, globalization, housing, inequality, interest rates, investment, Liberal Party policy, monetary policy, municipalities, Ontario, party politics, prices, private equity, regulation, Role of government, taxation, Toronto, wealth. September 25th, 2019Comments: none I’ve written a blog post about the Trudeau Liberals’ recently-proposed speculation tax on residential real estate owned...

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Thomas Piketty’s New Book

Thomas Piketty is out with a new book Capital Et Idéologie.Picture credit L’ObsHis tweet, announcing. The English version will be released in a few months.Branko Milanovic has already read it and his review has this explanation of Piketty’s brilliant phrase, Brahmin Left:… In [the second] part, we find the Piketty who plays to his strength: bold and innovative use of data which produces a new way of looking at phenomena that we all observe but were unable to define so precisely. Here, Piketty...

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Unbound: How Inequality Constricts Our Economy — Heather Boushey

Inequality constricts growth by: Obstructing the supply of people and ideas into our economy and limiting opportunity for those not already at the top, which slows productivity growth over time Subverting the institutions that manage the market, making our political system ineffective and our labor markets dysfunctional Distorting demand through its effects on consumption and investment, which both drags down and destabilizes short- and long-term growth in economic output Capitalism...

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Thomas Piketty’s New Book Brings Political Economy Back to Its Sources — Branko Milanovic

In the same way that Capital in the Twenty-First Century transformed the way economists look at inequality, Piketty’s new book Capital and Ideology will transform the way political scientists look at their own field. ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of BusinessThomas Piketty’s New Book Brings Political Economy Back to Its Sources Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior...

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Production and then distribution, or distribution and production together — Branko Milanovic

Must-read! Branko Milanovic sums up the fundamental issue affecting political economy as economics in relation to society. Neoclassical economic is like doing engineering with a total focus on efficiency and ignoring resilience. This approach views redundancy as inefficient. This is like eliminating the emergency brake on vehicles. An economy is the material life-support system for a society and its culture. It is the welfare and progress of the society that set the priorities....

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Economic Policy Institute — Labor Day Series

Economic Policy InstituteBlack workers endure persistent racial disparities in employment outcomesPart of the series Labor Day 2019: How Well Is the American Economy Working for Working People? Summary: Black workers are twice as likely to be unemployed as white workers overall (6.4% vs. 3.1%). Even black workers with a college degree are more likely to be unemployed than similarly educated white workers (3.5% vs. 2.2%). When they are employed, black workers with a college or advanced degree...

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Top 1% Up $21 Trillion. Bottom 50% Down $900 Billion. — Matt Bruenig

The insights of this new data series are many, but for this post here I want to highlight a single eye-popping statistic. Between 1989 and 2018, the top 1 percent increased its total net worth by $21 trillion. The bottom 50 percent actually saw its net worth decrease by $900 billion over the same period.… People's Policy ProjectTop 1% Up $21 Trillion. Bottom 50% Down $900 Billion.Matt Bruenig

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The Federal Reserve’s new Distributional Financial Accounts provide telling data on growing U.S. wealth and income inequality — Raksha Kopparam

Wealth disparities between the rich and the poor in the United States have broadened over the past 30 years, according to a new dataset released earlier this month by researchers at the Federal Reserve Board. Their Distributional Financial Accounts is the new dataset that provides quarterly estimates of wealth distribution in the country from 1989 to 2019. 2 The new dataset was created by integrating the Federal Reserve Board’s Financial Accounts with the Survey of Consumer Finances....

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