Economics Thread

sturg33 said:
Being both 100% parent and 100% income earner greatly reduces your ability to earn higher income, in my personal opinion.

I don't have a child, which frees up a heck of a lot more time for me to find other ways to focus on making money.. whether that's working longer hours to earn better performance reviews/bonuses... researching investment opportunities... or creating my side business... all of which I have done

(oh, and before 57 screams about my privilege, I grew up lower class)
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I think though what is causing the two groups to diverge is the increasing premium to education. And looking at well-educated single parents would show this. We are talking about somewhat different things. You point has to do with the gap between various groups. My point has to do with why the gap is growing.
 
nsacpi said:
I think this graph is misleading. The Gini coefficient looks flat because of the scale chosen. Nice try by the person putting out the tweet. And by you.
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Uh... Why is the scale misleading? It starts at 0 and goes to 1 in intervals of 0.2
 
sturg33 said:
Uh... Why is the scale misleading? It starts at 0 and goes to 1 in intervals of 0.2
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If you have a variable that moves between 1% and 2% and put up a graph where the Y axis is scaled 0% to 100% any movement in the variable is not going to be noticeable.

We could better see what is happening to the Gini coefficient if the Y axis was scaled 40 to 60 rather than 0 to 100.
 
nsacpi said:
If you have a variable that moves between 1% and 2% and put up a graph where the Y axis is scaled 0% to 100% any movement in the variable is not going to be noticeable.

We could better see what is happening to the Gini coefficient if the Y axis was scaled 40 to 60 rather than 0 to 100.
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Not being blind can allow us to see that it ranges between low 40s and high 40s at most... So at worst, a 10 percent move in 25 years? I'll try to dig up the raw numbers
 
sturg33 said:
The left likes to celebrate single parent households but the data shows this is a losing recipe.

Having kids out of wedlock is not a good thing for anyone

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I don’t think the left is in favor of single parent households. In fact, I’m pretty sure this chart just explains why the Left talks about them.
 
sturg33 said:
Not being blind can allow us to see that it ranges between low 40s and high 40s at most... So at worst, a 10 percent move in 25 years? I'll try to dig up the raw numbers
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The thing is a 10% shift is the Gini coefficient is a pretty big deal to the people who study that kind of stuff. But hey if you and Mark J Perry see it as flat, that's ok too.
 
nsacpi said:
The thing is a 10% shift is the Gini coefficient is a pretty big deal to the people who study that kind of stuff. But hey if you and Mark J Perry see it as flat, that's ok too.
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Yeah, almost every country in the world is within 25 points of each other on this metric. A roughly 10 point swing is massive given that context.
 
mqt said:
Yeah, almost every country in the world is within 25 points of each other on this metric. A roughly 10 point swing is massive given that context.
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For the record, I

1. Do believe we have wealth inequality

2. Do not believe wealth inequality is bad, as long as everyone is doing better

3. Recognize that everyone is doing better (thanks trickle down)

4. Posted some data to discuss
 
sturg33 said:
For the record, I

1. Do believe we have wealth inequality

2. Do not believe wealth inequality is bad, as long as everyone is doing better

3. Recognize that everyone is doing better (thanks trickle down)

4. Posted some data to discuss
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For the record, I think

1. Wealth or income inequality are great topics to discuss

2. I pointed out the graph you linked was misleading in terms of how the Y axis was done

3. Look forward to additional discussion as to whether inequality has been increasing or not.
 
nsacpi said:
I think though what is causing the two groups to diverge is the increasing premium to education. And looking at well-educated single parents would show this. We are talking about somewhat different things. You point has to do with the gap between various groups. My point has to do with why the gap is growing.
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As far as I know, the single largest correlation with future income is parents’ educational achievement.
 
Maybe y’all have seen some of the articles on the wire about the risk of environmental hazard from the prospect of flooding of so-called manure lagoons at NC pig farms in the upcoming storm.

It brought to mind some of our conversations about regulation and externalities. If NC ends up swimming in toxic pig**** stew, who is going to end up paying the toll for successful lobbying efforts to prevent ecologically-sound storage of waste?
 
Julio3000 said:
Maybe y’all have seen some of the articles on the wire about the risk of environmental hazard from the prospect of flooding of so-called manure lagoons at NC pig farms in the upcoming storm.

It brought to mind some of our conversations about regulation and externalities. If NC ends up swimming in toxic pig**** stew, who is going to end up paying the toll for successful lobbying efforts to prevent ecologically-sound storage of waste?
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not all regulation is a bad idea...shocking eh
 
Julio3000 said:
Maybe y’all have seen some of the articles on the wire about the risk of environmental hazard from the prospect of flooding of so-called manure lagoons at NC pig farms in the upcoming storm.

It brought to mind some of our conversations about regulation and externalities. If NC ends up swimming in toxic pig**** stew, who is going to end up paying the toll for successful lobbying efforts to prevent ecologically-sound storage of waste?
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The NC GOP will just redraw the district lines so the manure lagoons fall under (D) districts so they can get the blame.
 
The most workers since 2001 quit their jobs in July, with openings rising to an 18-year high. The number of positions waiting to be filled rose by 117,000 to 6.94 million from June, according to the Job Openings and Labor Turnover Survey. Those voluntarily leaving their jobs rose to 3.58 million, or 2.4% of the workforce, as economic expansion and confidence buoyed workers' confidence.
 
Julio3000 said:
Maybe y’all have seen some of the articles on the wire about the risk of environmental hazard from the prospect of flooding of so-called manure lagoons at NC pig farms in the upcoming storm.

It brought to mind some of our conversations about regulation and externalities. If NC ends up swimming in toxic pig**** stew, who is going to end up paying the toll for successful lobbying efforts to prevent ecologically-sound storage of waste?
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I don't have any idea what this is about or what may be causing it or what would be a potential solution.

But I certainly am comfortable with state and local government making their own laws that is best for their own people
 
I always laugh when idiots say that education spending has been gutted... on the contrary - education spending has been accelerated and has been in control of the government... always bad results

[TW]1040307848180318208[/TW]
 
sturg33 said:
I always laugh when idiots say that education spending has been gutted... on the contrary - education spending has been accelerated and has been in control of the government... always bad results

[TW]1040307848180318208[/TW]
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If I didn't know better, I would think that a huge portion of taxpayer dollars are used to feed the bureaucracy and never make it to the school district.
 
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