Edward Conard

Top Ten New York Times Bestselling Author

  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
Upside of Inequality Unintended Consequences Oxford
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Greg Mankiw

Mankiw shows rich parental resources have almost no impact on income inequality

Greg Mankiw reports that Chetty/Saez’s recent study on income mobility finds that “91 percent of the variance [in a person’s income] is unexplained by [their] parents’ income.” “Based on adoption studies,” Mankiw speculates that “conservatively…half…of that 9 percent… [stems from] genetics rather than environment… [which] leaves only 4.5 percent of the variance attributed directly to parents’ income.” He notes that even if universal preschool could “completely ... Read More

Mankiw explains why it’s illogical to raise the minimum wage rather than the earned income tax credit

Advocates for raising the minimum wage complain that the wage hasn’t kept pace with inflation.  They intentionally overlook a logical shift in policy to the earn income tax credit (EITC), which supplements the wages of low income workers with cash. Greg Mankiw, shows that the minimum wage plus the EITC has kept up with inflation. He explains why raising the minimum wage, which taxes the people who produce minimum wage employment—the customers and employers of minimum ... Read More


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