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Home / Tag Archives: Inequality

Tag Archives: Inequality

Credit Suisse wealth inequality data

Bob Gregory's latest rant against the evils of neoliberals inspired me to pull together the latest Credit Suisse wealth figures. The social democracies in Europe usually turn up as a lot more unequal in wealth than NZ, and I was curious where the latest numbers might put things. The latest iteration has NZ with the 145th most unequal wealth distribution of the 168 countries in the data set, or the 24th most equal. I've highlighted NZ in red and Sweden, Germany, Finland and Denmark in Green...

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Afternoon roundup

A very long overdue closing of the browser tabs brings these worthies:There's now a big solar plant running in South Taranaki. Remember: this is the ETS and the electricity market working. The electricity market doesn't care about the source of the power; it pays the going rate. The ETS increases the cost of thermal and especially increases the cost of coal. This plant's from Todd Energy. If I'm reading this right, we could have a free trade agreement with India if we had more liberal...

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Movements in income inequality in Canada, 1944-2010

Here are the estimates for the Gini coefficients for Canada, taken from individual tax files (see here for more about where the data came from): As was the case for median incomes, I am encouraged by the fact that the benchmark Statistics Canada series and the tax file data say basically the same thing about the evolution of income inequality over the period in which they overlap: the Gini coefficient starts to increase from the late 70s/early 80s until about 2000 and then...

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Garicano’s conversations with economists

Luis Garicano has just posted a very interesting free e-book, "Capitalism after covid: Conversations with 21 economists." I was honored to be one of his interviewees, video here. Luis has a VoxEU column summarizing conversations, and twitter thread if you like reading such things. Luis is a great interviewer. This is not an endorsement of all the ideas! Luis found a wide spectrum of ideas, and I think that is the strong thing about the project. You can see how really smart people, on top...

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Project Link update: The evolution of the distribution of income in Canada, 1944-2010

Project Link has been updated; the Excel file with the data updated through to June 2021 is available here. I skipped the 2020 update for Project Link for a couple of reasons. There was obviously the distraction of the pandemic, but mainly because I hadn't yet finished the next extension. Every year, I try to extend the data base, and the latest extension took more time than I had originally expected. This year's extension is the data set behind this animation I posted on twitter a while...

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More inequality

Paul Graham adds interesting thoughts on inequality, looking at the Forbes 100. Maybe we don't have enough inequality, and maybe the rise in inequality (especially of wealth) since the 1970s represents too little inequality then, not too much now. Contra the usual in politics, a change is not always a problem, but sometimes for the better. How? Read on. Contra the mantra of inherited wealth, the super-rich in America today largely earned their way there from middle class, by starting new...

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Inequality mirage?

David Splinter and Gerald Auten gave last week's Hoover Economic Policy Working Group seminar, summarizing their past and some work in progress on the distribution of income.  Link in case the above embed does not work. A recent paper. Splinter's web page. Splinter and Auten are very even handed, just-the-facts, economists. I'll pass on their facts. Grumpy interpretations are my own. It is a fact generally accepted that income inequality has grown a lot recently, and this is a...

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Ip on Bidenomics

Greg Ip has a great column in the WSJ on Bidenomics.  It's not long, it's so well written that it's hard to condense the good parts, and you should really read it all. There is an intellectual framework to Bidenomics, and with that a scarily more durable move on economic policy. There used to be "certain rules about how the world worked: governments should avoid deficits, liberalize trade and trust in markets. Taxes and social programs shouldn’t discourage work."By...

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Defining inequality so it can’t be fixed

In one of their series of excellent WSJ essays, Phil Gramm and John Early notice that conventional income inequality numbers report the distribution of income before taxes and transfers. After taxes and transfers, income inequality is flat or decreasing, depending on your starting point. Source: Phil Gramm and John Early in the Wall Street JournalIf your game is to argue for more taxes and transfers to fix income inequality, that is a dandy subterfuge as no amount of taxing and...

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