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]
CBS Sunday Morning Features “The Upside of Inequality”
“CBS Sunday Morning” feature on inequality, which includes Hitler, Marie Antoinette, beatings, starving paupers in coffins, Thomas Piketty, and poverty statistics that don’t account for the trillion dollars America spends helping the poor, gives me 20 seconds to defend capitalism. Here are all the things I said that they chose not to use. https://edwardconard.wistia.com/medias/bm46pvbgkl?embedType=async&videoFoam=true&videoWidth=640 ... [Read More]
Ed Conard Featured in CQ Researcher Report “Inequality in America: Can the Growing Wealth Gap Be Closed?”
CQ Researcher released its latest report “Inequality in America: Can the Growing Wealth Gap Be Closed?” featuring an interview with Ed Conard. Excerpts from the report: On incentivizing risk-taking to grow the economy: Edward Conard, a visiting scholar at the conservative-leaning American Enterprise Institute (AEI), calls the wealth gap an inevitable byproduct of an economy that prospers by rewarding innovators and risk-takers. Before the coronavirus struck, the ... [Read More]
Democrats Are Campaigning for European Socialist Policies That Would Hurt the Middle Class on FBN’s Varney & Co
David Asman and I discuss how Democrats are campaigning to bring European socialism to America which would slow growth and hurt the middle class. https://edwardconard.wistia.com/medias/6fbonilv0q?embedType=async&videoFoam=true&videoWidth=640 ... [Read More]
Joe Scarborough and Ed Conard Debate Pres. Trump’s Immigration Plan on MSNBC’s “Morning Joe”
Joe Scarborough and I debate President Trump’s new immigration plan and its emphasis on high-skilled immigration to produce economic growth on MSNBC’s “Morning Joe.” https://edwardconard.wistia.com/medias/uq081761pc?embedType=async&videoFoam=true&videoWidth=640 ... [Read More]
Americans Pay 26% Less Than the True Cost of Government
In a Wall Street Journal op-ed, economists Steve Hanke and Stephen Walters show how most Americans pay 26% less than the true cost of the government services they consume because politicians hide the true cost in long-term deficits. When taxpayers pay 26% less than the true cost of government—even less as they earn less—what incentive do they have to optimize government spending and taxes? I wrote about this in my book The Upside of Inequality (pp. 108 and 248). ... [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]
