Two charts show income inequality hasn’t risen as much as we’ve been led to believe. ... 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
One Reason GDP Growth Accelerated Under Trump
One reason why real (peak-to-peak) GDP growth has accelerated from 1.5% per year during the Obama Administration to 3.3% per year under the Trump Administration. ... Read More
Why the U.S. Needs A Lot More Ultra-High-Skilled Immigration
Why the U.S. needs a lot more ultra-high-skilled immigration via @AbacusNews. ... Read More
Breakdown of Productivity Growth From 1990-2017
This chart shows the breakdown of productivity growth from 1990-2017. ... Read More
Rates of Return Are Low for American Big Pharma
The Economist reports that rates of return are low for American pharmaceutical companies: Given the rapid pace of scientific advances in medicine, you might think Big Pharma is in rude health. You would be wrong. Last year consultants at Deloitte estimated that returns on investment among the biggest American drugmakers fell to 3.2% from 10.1% in 2010 (see chart). Many observers blame the rising cost of bringing new drugs to market. It now costs an average of $2bn to ... Read More
NYT Graph Shows GOP Tax and Budget Bills Will Have a Relatively Small Impact on the Deficit
A graph in the New York Times shows Republican Tax and Budget bills had a relatively small impact on the budget. ... Read More
