Tag Archives: inequality

Grasping Reality Thomas Piketty and Emmanuel Saez (2002-2018): Income Inequality in the United StatesBrad DeLong | Professor of Economics, UCAL Berkeley

(June 24, 2019-Calgary) With Alberta’s economy still facing challenges and vulnerabilities, the Alberta government should not be doling out tax cuts or cutting social spending, according to the Alberta Alternative Budget (AAB) released today. “Alberta still has, by far, the lowest debt-to-GDP ratio of any province,” says Nick Falvo, editor of the report. “We are in a good position to increase spending on education, invest in affordable child care, offer free dental care to Albertans...

(June 24, 2019-Calgary) With Alberta’s economy still facing challenges and vulnerabilities, the Alberta government should not be doling out tax cuts or cutting social spending, according to the Alberta Alternative Budget (AAB) released today. “Alberta still has, by far, the lowest debt-to-GDP ratio of any province,” says Nick Falvo, editor of the report. “We are in a good position to increase spending on education, invest in affordable child care, offer free dental care to Albertans...

In its new Distributive Financial Accounts data series, the central bank offers a granular picture of how American capitalism has been distributing the gains of economic growth over the past three decades. Matt Bruenig of the People’s Policy Projecttook the Fed’s data and calculated how much the respective net worth of America’s top one percent and its bottom 50 percent has changed since 1989. He found that America’s superrich have grown about $21 trillion richer since Taylor Swift was...

Still clueless. Caught in the bubble and out of touch. “For every one positive article about capitalism, there are 11 negative ones,” said Nathan Rosenberg, founding partner of Insigniam, a management consulting firm. “CEOs should seize their job. Capitalism has created more elevation of [the] human condition than any religion or government ever has. We don’t tell our story. We don’t talk about the benefits. We have to get out and tell our story.”... FortuneDoes Capitalism Have a PR...

Most important, after a 40-year period in which capital has won out decisively over labor, there is much likelihood that global economic policy is to shift back in a much less business-friendly direction. Not only will that weigh on economic growth, but it’s also likely to push inflation higher. And that’s something markets are not currently prepared for. FinenewsDarren Williams: «How Populism Affects Our Business» Darren Williams | Global Economic Research Group for Fixed Income

Labor’s share of national income—that is, the amount of GDP paid out in wages, salaries, and benefits—has been declining in developed and, to a lesser extent, emerging economies since the 1980s. This has raised concerns about slowing income growth, inequality, and loss of the consumer purchasing power that is needed to fuel demand in the economy. The decline has been much discussed and the rising power of companies vis-à-vis workers—whether from new technology, globalization, the hollowing...

Trade in intermediates (or ‘unbundling of production') and trade in capital have become increasingly important in last 25 years. This column shows that trade in intermediates generates a reallocation of capital across countries that exacerbates world inequality in both income and welfare. Unbundling of production hurts middle-income countries but helps those with high productivity. Trade in intermediates also increases within-country inequality, and this increase is U-shaped in the...

I can't stop looking at this table. Mortality rates in England rose between 2011-16 for teenagers and most working-age adults under 50: That's bad enough. But what should give all of us pause is the reason that Public Health England (PHE) gives for rising mortality among young and middle-aged adults: Among people aged 20-44, an increase in mortality rates from accidental poisoning had a negative effect on life expectancy between 2011 and 2016 of -0.06 years in males and -0.11 years in...

A wealth tax is not needed to "pay for" anything, since the US funds itself directly using currency issuance. That is, the US is a currency issuer rather than a user of currency.  The purpose of taxation is to: control for inflation  discourage taxed behavior  address social needs A wealth tax would address 2 and 3. Regarding 2, the negative behavior being discouraged is rent-seeking and a wealth tax would serve to preempt rent extraction. Regarding 3,  the social need being addressed...