A recent article reviewed the new debt agreement as follows: “It’s like a 400-pound man boasting that he plans to drop 20 pounds over a decade, while his doctors warn about the risks of losing weight so fast.” I found that analogy grossly misinformed. It’s much more like a 400-pound man who is gaining 50 […]
In this article, Cameron Daniels explains that the small decrease in poverty levels from 13.3% to 12.8% from 1967 to 2003 (36 years!) is not so bad as it initially seems as Simpson’s Paradox rears his ugly head.
Many debates revolve around the fact that both within group skill levels (as in amongst high school graduates or college graduates, for example) and between group skill levels (comparing high school to college graduates) income disparity has been increasing. This fact has been politicized many times and is used as a catch-all method to support almost any policy: why we need more of a welfare state, why we need less of a welfare state or a higher minimum wage, why we need more funding (or less) for public education, why we need higher or lower taxes, more progressive taxes, et cetera. I am not going to speculate on the need to change this trend or its best method but simply to offer an explanation… Most large socioeconomic phenomena such as these do not have a single solution, so consider this article to contain one of many explanations.
Much has been made about the gender disparity that has persisted in income levels. I decided to delve into some of the finer points of the income distribution for men and women and found some interesting trends that exist when stratifying education levels.
Cameron Daniels looks at trends of highschool dropouts.
In early May 2007, a study gained publicity that claimed NBA referees altered their habits of calling fouls based on the racial makeup of the offending players. Maria Rainier helped write an article about discrimination in gender, I felt that it would be appropriate to continue the discussion with a look at racial bias.
Charitable contributions are an important part of the American political system and the American tax code. In this article, Cameron Daniels questions whether the tax exemption for charitable contributions is a good policy decision.
Live blogging for the midterm 2010 elections. Keep refreshing! 5-10 minute updates.
It’s October and fantasy football is in full swing. Fantasy football, for the neophytes out there, is a game played by fans of the NFL who select players to fill a simulated team and then are awarded points based off of their real life performance. It has left an indelible mark on the viewing patterns and marketing techniques of NFL firms. Over 27 million people play today, leading Jake Plummer to claim that “it has ruined the game”.
The incidence of a tax (who truly pays for it) is very significant in welfare analysis. Cameron Daniels analyzes this concept using the real life example of gas prices.
Substitution and Income Effect: These two terms are very familiar to anybody who has taken an intermediate course in macroeconomics. With the recent articles regarding volunteerism and labor statistics, I thought that it was very timely to write on these two very important concepts.
Let’s start with a thought experiment: if you were to receive a 10% increase in your hourly wage, would you increase, decrease, or maintain your hours worked? Believe it or not, any answer is correct, despite many assumptions regarding the positive slope of labor supply curves. The reason that any answer is correct lies in an understanding of substitution and income effects.