Posts Tagged ‘income distribution’

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    Placing the Poverty Line

    Sep 15, 11 • 104 Views • Economic Debates, Government, Households, Labor, Macroeconomic Measurement, Thinking EconomicallyNo Comments

    Any family that earns less than 3 times the annual cost of a nutritionally adequate diet is below the poverty line. But should we agree with the placement of the line? If we say that poverty is “relative deprivation, ” then a definition could take...

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    Are the Rich Getting Richer?

    Jun 30, 11 • 89 Views • Government, Households, Labor, Macroeconomic MeasurementNo Comments

    Their conclusion was clear. A recent Federal Reserve study tells us that the rich are getting richer. A closer look, though, reveals it is a lot more complicated. We need to be aware of two issues. How should we define income and wealth? Calculating income,...

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    Presidential Pay and the GDP

    Mar 17, 11 • 124 Views • Government, Households, Macroeconomic Measurement, Thinking EconomicallyNo Comments

     The Economist decided it would be interesting to know how a political leader’s pay compares to what a typical citizen from that country earns. Here are some of the numbers with salary first and then the multiple of per capita GDP next. I’ve...

  • Like the 3 Bears, the Middle Class is Not too Rich Not too...

    Are You Middle Class?

    Dec 16, 10 • 98 Views • Behavioral Economics, Economic Debates, Government, Households, Macroeconomic MeasurementNo Comments

    What is the “middle class?” In a recent NPR interview, a painting contractor, an employee of Healthy Montana Kids, a man who runs a hi-tech robotic firm, and a hospice worker, all earning between $25,000 and $100,000 annually, said they were...

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    The Big Tradeoff

    Oct 1, 10 • 514 Views • Businesses, Government, Households, Macroeconomic MeasurementNo Comments

    During the 2008 presidential campaign, when asked who is rich, John McCain jokingly said the dividing line was $5 million while Barack Obama said $150,000. Now, referring to proposed tax legislation, President Obama says that a family earning $250,000 is rich...