Tag: median household income
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Economics Links
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1. Carpe Diem: 5 Reasons Why 2013 Was The Best Year In Human History Fewer people are dying young, and more are living longer. … Global economic growth in the past five decades has dramatically reduced poverty and made people around the world happier. … War is becoming rarer and less deadly. … Rates of…
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Economics Links
1. Poor and Middle Class Incomes Have Increased Significantly "… Using this more sophisticated cost-of-living adjustment, which is preferred by the Congressional Budget Office and Federal Reserve Board, the increase in median household income was not 5 percent but 16 percent from 1979 to 2012. In 2007, like 1979 a peak in the business cycle,…
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Why Income Inequality Went Missing in the 2012 Campaign
Bloomberg: Why Income Inequality Went Missing in the 2012 Campaign Why did inequality never become the defining issue of the 2012 campaign? It appears that voters, intuitively, don’t see it as the problem some politicians would have us believe. Even economists disagree over how bad inequality is, the correct way to measure it, why it’s…
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Economic Status (Part 2)
SOCIAL INDICATORS 2007 Economic Mobility Most societies, through the ages, have had flat income distributions. The overwhelming majority of people lived near subsistence levels, with a tiny minority living in splendor. There was equal distribution but little opportunity for an individual to improve economic status. Since the Industrial Revolution, we have seen a great expansion…
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Social Indicators: Economic Status (Part 1 of 2)
Economic status is usually cast in terms of income and wealth. When discussing economic justice, we typically have one of two things in mind. First, we ask if each person has sufficient resources to live on. Second, we are asking how income and wealth are distributed throughout society. Is it concentrated in the hands of…