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
Defending JPMorgan CEO Jamie Dimon’s $31m Salary on FBN’s Making Money with Charles Payne
Charles Payne, Heather Higgins, and I defend JP Morgan Chase CEO Jamie Dimon’s $31 million annual salary on “Fox Business’s Making Money with Charles Payne.” https://edwardconard.wistia.com/medias/z8tn98sce3?embedType=async&videoFoam=true&videoWidth=640 ... Read More
Debating a Book’s-Worth of Economic Issues on “Conversations with Bill Kristol”
I cover a book’s-worth of economic issues in my 90 minute discussion with Bill Kristol on “Conversations with Bill Kristol.” ... Read More
Frank Hill Reviews The Upside of Inequality for The North State Journal
Review: The Upside of Inequality by Frank Hill for The North State Journal Many people hear the term “income inequality” and think: “We gotta do something to fix that!” Which almost always means pass more legislation and give more power to government officials. Ed Conard, former managing partner of Bain Capital, thinks differently. He sees rising income inequality as a good sign for an economy, not as a negative. As he writes in his eminently readable book, ... Read More
Atlanta’s Living Standard Is Higher Than San Francisco (When Adjusted for Real Estate Cost)
After adjusting for the cost of real estate, Demographia finds the median standard of living in Atlanta is higher than San Francisco. ... Read More
Millennial Incomes Are Comparable to Prior Generations
A new Pew study finds Millennial household incomes are higher today than they have been for every other comparable generation, except in the year 2000. Using the Pew data, Ernie Tedeschi finds Millennial household incomes today are comparable to past generations after adjusting for education. But such comparisons assume education is as productivity-enhancing today as it was in the past when America educated fewer people at the margin. Bryan Caplan, for example, ... Read More
U.S. Is Not An Outlier on Economic Mobility
Scott Winship’s indispensable review of economic mobility studies finds the “U.S. (is) not an outlier” even if absolute mobility is less because growing income gap between rich and poor “says nothing” about whether it’s harder for poor kids to become rich. ... Read More
