Benjamin Studebaker

Yet Another Attempt to Make the World a Better Place by Writing Things

Tag: Income Growth

Why American Families are Worse off Now Than They Were in 1997

When we evaluate whether or not the economy is performing well, we sometimes pay too much attention to GDP. Gross domestic product tells us about the total amount of exchange going on in an economy, but many of those exchanges only serve to enrich those at the top of the economic ladder. To get a better sense of how ordinary people are doing, we need to look at real (inflation-adjusted) median household income. Today I checked in on the American figures, and they are bleak:

The median American family is not only poorer than they were before the 2008 crisis–they’re poorer than they were during the Monica Lewinsky scandal. What on earth is going on?

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Bartels Redux: The Fed’s Political Influence

I have been somewhat dissatisfied with the explanations I offered a few days ago for the surprising gap between democratic and republican economic performance in election years. Today I have decided to dig a little deeper, and I believe I have found a more satisfactory explanation for the gap.

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The Incredible Statistical Difference between Democrats and Republicans

Lately I’ve been reading a book by Larry Bartels entitled Unequal Democracy: The Politics of the New Gilded AgeBartels has conducted an incredible study that produced statistical outcomes I was not, to this point, aware of. Given the amount of time and energy I devote to politics, it stands to reason that the general public is not aware of them either, and it is absolutely imperative that, so long as this remains a democracy, every citizen be made aware of what Bartels has found, so I set out today to communicate these figures to whoever might be out there reading, in the hope that perhaps they will be shared more widely.

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