Edward Conard

Top Ten New York Times Bestselling Author

  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “Unintended Consequences offers deep and well-argued analyses on almost every issue.” - The New York Times
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “Unintended Consequences is far smarter and more thought-provoking than most economics written for the general public” - Greg Mankiw, Harvard University, Former Chairman of the Council of Economic Advisors
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “A full-throated defense of economic dynamism.” - The Wall Street Journal
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
Upside of Inequality Oxford Unintended Consequences

Macro Roundup


Friday, January 10, 2014

AI Summary. Census Bureau data show the U.S. foreign-born population approaching 37m, or 12% of the total population. An additional 33m people, 11% of the population, are U.S.-born with at least one foreign-born parent.

U.S. Census Bureau U.S. Census Bureau
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The foreign-born population in the U.S. is approaching 37m, representing 12% of the total population, according to recent @USCensusBureau data. This demographic shift highlights the role of immigration in shaping the nation’s economic landscape.

How large are the foreign-born population and their U.S.-born children?

Core argument: The U.S. foreign-born population is approaching 37m, or 12% of the total population, according to Census Bureau data.

The foreign-born population in the U.S. is approaching 37m, representing 12% of the total population, according to recent Census Bureau data. This demographic shift highlights the significant role of immigration in shaping the nation's economic landscape. Additionally, 33m individuals, or 11% of the population, are U.S.-born with at least one foreign-born parent, underscoring the growing influence of immigrant families. These figures suggest a substantial impact on labor markets, consumer demand, and cultural dynamics, as foreign-born individuals and their descendants contribute to workforce diversity and economic growth. The data excludes institutionalized populations, providing a focused view on the civilian demographic trends. As policymakers and economists analyze these trends, understanding the implications for labor force participation, social services, and economic integration becomes crucial for informed decision-making.

Takeaways by Macro Roundup® AI

  1. The U.S. foreign-born population is approaching 37m, or 12% of the total population, according to Census Bureau data.
  2. An additional 33m people, 11% of the U.S. population, are U.S.-born with at least one foreign-born parent, according to Census Bureau data.
  3. The Census Bureau figures exclude institutionalized populations, covering only the civilian demographic.

More than one in five persons in the United States are either first or second generation Americans. According to the Census Bureau’s “Foreign-Born Population of the United States: 2009” 36.7 million people, or 12 percent of the nation’s population are first generation immigrants and another 33 million people, 11 percent of the population were born in the U.S. with at least one foreign-born parent. The data excludes the institutionalized population.U.S. Census Bureau, “Nation’s Foreign-Born Population Nears 37 Million,” 19 October, 2010. Available at: http://www.census.gov/newsroom/releases/archives/foreignborn_population/cb10-159.html#immigration #importinglabor #demographics

Monday, January 27, 2014

AI Summary. Estimated intergenerational earnings elasticity is about 0.5 in the US, meaning roughly 50% of parental income advantage passes to children, versus 0.2–0.3 in Nordic countries, indicating economic advantage and disadvantage persist more across generations in the US.

Robin Naylor, Eva Osterbacka, Andres Bjorklund, Tor Eriksson Forschungsinstitut zur Zukunft der Arbeit
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Intergenerational earnings mobility varies significantly across countries, with the US exhibiting lower mobility compared to Nordic countries and the UK. In the US, 50% of parental income advantages are passed to children, compared to 20-30% in Nordic countries.

Does parental income advantage persist more across generations in the US?

Core argument: The intergenerational earnings elasticity in the United States is roughly 0.5, meaning 50% of parental income advantages pass to children, versus 0.2–0.3 in the Nordic countries.

Intergenerational earnings mobility, a key indicator of economic opportunity, varies significantly across countries, with the US exhibiting lower mobility compared to Nordic countries and the UK. In the US, the elasticity of intergenerational earnings is approximately 0.5, indicating that 50% of parental income advantages are passed to children, compared to 0.2-0.3 in Nordic countries, where only 20-30% is transmitted. This suggests that economic advantages or disadvantages are more persistent across generations in the US. The Nordic model, characterized by robust social safety nets and equitable education systems, facilitates greater mobility. These findings highlight the need for policy interventions in the US to enhance economic mobility and address structural barriers that perpetuate income inequality across generations.

Takeaways by Macro Roundup® AI

  1. The intergenerational earnings elasticity in the United States is roughly 0.5, meaning 50% of parental income advantages pass to children, versus 0.2–0.3 in the Nordic countries.
  2. Comparison of the Nordic countries, the United Kingdom, and the United States finds lower intergenerational earnings mobility in the US, suggesting economic advantages and disadvantages persist more across generations there.
  3. Greater Nordic mobility is attributed to robust social safety nets and equitable education systems, with US policy interventions urged to address structural barriers that perpetuate income inequality across generations.

Denmark study. Jantti, Markus, Bernt Bratsberg, Knut Roed, Oddbjorn Raaum, Robin Naylor, Eva Osterbacka, Andres Bjorklund, Tor Eriksson, "American Exceptionalism in a New Light: A Comparison of Intergenerational Earnings Mobility in the Nordic Countries, the United Kingdom and the United States" Forschungsinstitut zur Zukunft der Arbeit, January 2006. New Available at:http://ftp.iza.org/dp1938.pdf