Poor Bankers’ Feeling Hurt

Financial Times reports from Davos Switzerland: Stop bashing the bankers, Davos meeting told Governments around the world must stop banker-bashing and create the right environment for lenders to support economic growth, some of the world’s most powerful bankers will tell finance ministers on Saturday. Bankers say the meeting will be an effort to replicate internationally … Continue reading Poor Bankers’ Feeling Hurt

International Comparisons of Per Capita GDP

When we make comparisons between countries using per-capita GDP, we must always take a closer look.  The simple numbers don't say what you think.  For example, per capita GDP in France is only approximately 78-80% of per capita GDP in the U.S.  The temptation is to quickly assume that the U.S. is a more developed … Continue reading International Comparisons of Per Capita GDP

Income Inequality: Worse in US than Egypt/Tunisia

Washington's blog observes: Egyptian, Tunisian and Yemeni protesters all say that inequality is one of the main reasons they're protesting.However, the U.S. actually has much greater inequality than in any of those countries. Specifically, the "Gini Coefficient" - the figure economists use to measure inequality - is higher in the U.S. [Click for larger image] … Continue reading Income Inequality: Worse in US than Egypt/Tunisia

Demography and Revolutions

Continuing the discussion on Egypt, Tunisia, and the protests in North Africa/Middle East... One important characteristic of these nations is that they have very young populations. Young adults, those under say age 35, dominate the population, much the same way the Baby Boomers dominated the U.S. in the turbulent 1960's and 1970's.   Having a lot … Continue reading Demography and Revolutions

Tunisia, Egypt and “isms”

Note to regular readers: You may notice an increasing number of posts that deal with pure political economy or international issues.  In the past my posts have been dominated by macro-economic concerns and that's largely because my teaching schedule was heavily macro.  I'm teaching a new class this term that is essentially Political Economy 101, … Continue reading Tunisia, Egypt and “isms”