January 31, 2007
The State of the Economy
The White House released a report called the State of the Economy, which, if you've ignoring the media, you know is pretty damned fine.
Here's an image I found interesting. There are more people employed in this country than ever before.
Read a summary at Powerline.
Economics and Markets
Posted by AlexC at January 31, 2007 2:27 PM
Lotta graphs look like that, that's why they're running for the arguments the Sen. Webb/Paul Krugman claims that Alan Reynolds debunks: the poor are stagnating, the middle class is shrinking, all the gains are going to the top wage earners.
Reynolds provides a book full of great debunking using a lot of statistical analysis. One of my favorites is a throwaway in the last chapter.
If I may paraphrase, imagine everybody's wages double tomorrow. Well the gap between the rich and the poor would (divide by seven, carry the one...) double.
While Paul Krugman would pen a tearful column on wage disparity, everybody else with the 100% raise would head to the mall.
Lotta graphs look like that, that's why they're running for the arguments the Sen. Webb/Paul Krugman claims that Alan Reynolds debunks: the poor are stagnating, the middle class is shrinking, all the gains are going to the top wage earners.
Reynolds provides a book full of great debunking using a lot of statistical analysis. One of my favorites is a throwaway in the last chapter.
If I may paraphrase, imagine everybody's wages double tomorrow. Well the gap between the rich and the poor would (divide by seven, carry the one...) double.
While Paul Krugman would pen a tearful column on wage disparity, everybody else with the 100% raise would head to the mall.
Posted by: jk at January 31, 2007 3:55 PMNow THAT is a good analogy JK. I have every intention of stealing it for my next conversation on wage disparity! Thanks.
Posted by: Terri at January 31, 2007 6:54 PM | What do you think? [2]