Pavlina R.Tchemevra is the source of the data for this chart which appeared in September 2014 in the New York Times in an article by Neil Irwin “The Benefits of Economic Expansions Are Increasingly Going to the Richest Americans”.  Can anyone source or provide an updated version of this chart?  

Uncovering the Truth About Foreign Debt

There is no ‘tragedy of the Commons.’ But a tragedy of the absence of Commons-as organizations, let’s call it ‘the tragedy of uncommons’, does exist. Below, I will provide the example of the island of Ameland in the Northern Netherlands, in line with the historical examples of successful Commons mentioned by Elinor Ostrom (especially those for Switzerland).  Ownership is a multi-dimensional concept. Up to the 1795 revolution, the island of Ameland, north of Friesland, was not a part...

Housing Market Ponzi Scheme Explained

Millions of People Who Could Benefit from Obamacare Don’t Because They Don’t Know About It, and Neither Does the New York Times Center for Economic and Policy Research, Dean Baker. I and others have written about the PPACA multiple times over since it came out and has been improved repeatedly since its introduction. Lets start with the subsidy cliff which was at 400% FPL. President Biden changed the law on it allowing higher incomes to receive...

Infidel753, A ray of hope from the grassroots, Infidel753 Blog Mid-December commentary by Infidel753 as taken from his site as known by the same title. Much of the intensity of political polarization in the US comes from a strangely mirror-image-like pair of personal-freedom issues — abortion rights and gun rights.  In each case one side, or rather its most militant exponents, is grimly determined to attack and destroy what the other side...

Manufacturing and construction show softness to start the month  – by New Deal democrat As usual, the new month’s data starts out with information on manufacturing and construction. The ISM manufacturing index has been a good leading indicator in that sector for 75 years. The difference over time, especially the last 20 years, is that manufacturing makes up a smaller share of the total US economy. As a result, even though it has almost...

 Taking on Boeing, A senior manager for Boeing’s 737 MAX program testimony about Boeing manufacturing issues and its supply chain. The fatal MAX 8 crashes occurred in 2018 and 2019. He decided to speak up publicly and was then called to testify before Congress on the problems he says he saw up close. The story is at Politico and is accessible. I wanted to read the Congressional Investigation hearing. Below is part of it and an easy read....

The Surprising Link Between Deficits

Why not all economists like yours truly Yesterday, one of my economics students amused herself by asking a famous AI chatbot “Why not all economists like Lars Syll” and got this — I guess pretty accurate — response … Professor Lars Pålsson Syll is a vocal critic of mainstream economics and advocates for pluralism in economic thinking. Overall, Lars Syll is recognized as a prominent figure in the realm of heterodox economics and critical inquiry into the...