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Here are the key findings of Scott Winship’s latest research [3]:
- An accurate accounting of who is gaining and losing in the U.S. economy requires a broad view across an entire business cycle: while the richest households tend to gain the most during economic expansions, this is partly because they also lose the most during recessions.
- In the current, ongoing, business cycle, real incomes declined between 2007 and 2014; the top 1 percent experienced nearly half of that total decline.
- From 1979 to 2007, 38 percent of income growth went to the bottom 90 percent of households, amounting to a 35 percent increase ($17,000) in its average income.
Here’s the conclusion of Logan Billman’s “Too Bad Flint Wasn’t Run Like a Business [4]“:
Flint was not run as a business. If a business had been running Flint, it is likely that the crisis would have been smaller and its residents would be much better off than they are today.
Just how crumbly is America’s infrastructure? [5]
Here’s a new blog; it’s from the University of Chicago’s Stigler Center [7]. (HT Greg Mankiw)
Speaking of Greg Mankiw, he posts this telling picture [8].
Peter Minowitz, writing over at Library of Law and Liberty, explores today’s campus activism [9].