Category: Weatlh and Income Distribution
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The Rise in Global Per Capita Income and Decline in Global Inequality
The Economist: Some good news for development economists
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Top 1% Income Share Is The Same As 1999
From a post by Greg Mankiw (The One Percent, Updated): Over the last sixteen years, the share of pre-tax income earned by the top 1% has ranged between 17% and 23%. I calculate an average of 20% over that time frame, precisely where it is today. Read Mankiw's post for more details. A peculiar note:…
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Globalization and Inequality: Two Complex Decades in One Simple Graph
Pew Research Center: Chart of the Week: How two decades of globalization have changed the world (Source: Milanovic, B., Lead Economist, World Bank Research Department, Global income inequality by the numbers. Annotations by James Plunkett.) I have seen the unannotated version of this graph several times, but the annotations really make things clear. The graph…
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GDP Growing Fastest in Poor Countries
The world's poorest regions have been growing the fastest for at least twenty years. The Economist forecasts world GDP to be 2.9%, Asia and Australasia (less Australia) at 5.7%, and Sub-Saharan Africa at 4.5%. These rates indicate a considerable slowing of growth from recent years. The US forecast is 3.2%. This is more evidence that…
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The Hockey Stick of Human Prosperity
From MRUniversity, Everday Economics: "We are pleased to announce a brand new course at MRUniversity, Everyday Economics. The new course will cover some of the big ideas in economics but applied to everyday questions. The first section, premiering now and rolling out over the next several weeks, features Don Boudreaux on trade. Tyler will appear…
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Measuring Inequality: On Using Snapshots When Only Video Will Do
When it comes to understanding inequality, the debate is frequently burdened with many misunderstandings about data. When talking about wealth inequality, we see statements like "85 people own more wealth than the bottom half of humanity." Wealth is routinely misunderstood to mean money and things someone owns. It isn't. Wealth is someone's total assets minus…
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Economic Development Links
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in Africa, Capitalism and Markets, Central America, China, Demography, Economic Development, Education, Environment, Gender and Sex, Globalization, Health and Medicine, Human Progress, International Affairs, Links – Economic Development, Poverty, Technology (Food & Water), Wealth and Income, Weatlh and Income Distribution1. Economist: March of the Middle Class 2. Chrsitianity Today: Poverty Is a Moral Problem – Interview with William Easterly … The sad thing is that the field and practice of development have too often been on the wrong side of this debate. They’ve implicitly painted themselves into a corner where they’re on the authoritarian…
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Deirdre McCloskey vs Thomas Piketty – a clash of the inequality titans
The Spectator: Deirdre McCloskey vs Thomas Piketty – a clash of the inequality titans Well, I think I might have met his match. She's called Deirdre McCloskey. … … McCloskey on the other hand, who is meant to be the conservative one, has the zeal of a revolutionary. She describes herself as an ex-Marxist, Christian…