In National Review, Kevin Hassett, the former Chairman of the Council of Economic Advisers, asks Ed Conard to defend conservative free market capitalism and how it promotes entrepreneurial risk-taking that has grown middle-class incomes faster than Europe. Five Questions for Ed Conard National Review Online August 21, 2020 1) Many liberals claim capitalism no longer works for the middle and working class. Is it true? No. According to the Congressional Budget ... Read More
My Oxford University Press Chapter, “The Economics of Inequality in High-Wage Economies,” Is Available Free Online
Oxford University Press has provided free online access to my chapter, “The Economics of Inequality in High-Wage Economies,” for a limited time in their new book “United States Income, Wealth, Consumption, and Inequality.” In the chapter, I argue, “Inequality is mostly the result of an increasing premium on returns from risk and high-skilled labor ushered in by technological disruption and the feedback loop of elite talent working to increase their own productivity—a ... Read More
My chapter, “The Economics of Inequality,” joins Saez, Burkhauser, and other distinguished economists in Oxford University Press’ new “United States Income, Wealth, Consumption, and Inequality”
In my chapter, “Economics of Inequality in High-Wage Economies," I argue, “Inequality is mostly the result of an increasing premium on returns from risk and high-skilled labor ushered in by technological disruption and the feedback loop of elite talent working to increase their own productivity—a logical outcome when properly trained talent constrains growth. The answer … lies in increasing the ratio of high- to low-skilled workers chiefly by training and recruiting ... Read More
Ed Conard Discusses the Economy and Impact of Midterm Elections on Stock Market on Fox Business’s “Varney & Co”
Ed Conard discusses the state of the economy and the impact of the midterm elections on the stock market with Stuart Varney on Fox Business's "Varney & Co." https://edwardconard.wistia.com/medias/qtplbqkb53?embedType=async&videoWidth=640 ... Read More
Krugman’s Misleading Scandinavian Comparison
Paul Krugman wrote a misleading post comparing U.S. wages and productivity growth to Scandinavia without admitting that Scandinavia’s test scores are much higher than America’s. Comparing Scandinavia to Scandinavian-Americans instead of to Americans more broadly is a simple way to factor out the benefit of higher Scandinavian test scores. (If anything, Scandinavians with lower socioeconomic status immigrated to America.) On average, Scandinavian-Americans earn ... Read More
Breakdown of Productivity Growth From 1990-2017
This chart shows the breakdown of productivity growth from 1990-2017. ... Read More
New Study Claims IQ Predicts Job Performance
A new study claims IQ measurements predict two thirds of job performance—both pay and output. While measures of EQ are inherently less precise, EQ seems to predict another 10 to 15%. The study averages pay across gender and race, so these variables were not included in the study. ... Read More
