This is only tangentially related to economics, but I'm pretty excited about some coverage I got for my other project (besides blogging here and teaching at LCC). If you teach in higher education yourself, you might be interested. If so, contact me. The article is from Converge Magazine yesterday: Economics Professor Starts Designing Tools for … Continue reading Malartu, My Other Project
When people think about "income distribution" there's a tendency to think of it only in terms of what different people or households have available to spend. In other words, we focus on the fairness or equity of whether some households should only have a small amount of money to live off of vs. others who … Continue reading Income Distribution Does Matter. It’s Wrong Now and Stopping Growth.
It's not just the lack of jobs that's hurting workers. Even those workers who have jobs are suffering from a historic lack of wage growth. Workers' wage growth over the last ten years has been lower than even the Great Depression. The American dream of "doing better than Dad did" is effectively over. For the … Continue reading The Depression in Wages: End of the American Dream
For economic geography and comparative economic systems students from Dani Rodrik: Another U-curve in economic development During the course of research my co-author Maggie McMillan and I were doing on broad patterns of structural change, our research assistant Inigo Verduzco stumbled on an interesting stylized fact that is captured in the figure below. What it … Continue reading Labor Productivity in Development
Macroeconomic productivity measures don't really measure productivity. These measures, which purport to measure how much output is created per worker in the U.S. are actually pretty faulty. Unfortunately this leads to poor polices and a mis-reading of what's really happening. From the the NYTimes: FOR a quarter-century, American economic policy has assumed that the keys … Continue reading Macroeconomic Productivity Measures Don’t Really Measure Productivity