Posts Tagged ‘income distribution’

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    The Big Tradeoff

    Oct 1, 10 • 772 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

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    Conspicuous Consumption

    Jun 20, 10 • 193 Views • Economic Thinkers, HouseholdsNo Comments

    I once read that Thorstein Veblen let his dirty dishes accumulate until his cupboard was bare, then sprayed them with a hose and started all over again. Maybe a good idea, but unusual. This early 20th century scholar (1857-1929) was somewhat eccentric. We

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    Money and Happiness

    Jun 8, 10 • 145 Views • Thinking EconomicallyNo Comments

    Does money buy happiness? A 2006 report from the Pew Research Center said yes and no. If we compare income groups, the answer is yes. Almost 50% of people earning more than $100,000 annually said they were happy. However, as income levels dropped, so too did

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    (Fictitious) Billionaire Facts

    Apr 20, 10 • 199 Views • Macroeconomic MeasurementNo Comments

    Did you ever wonder how rich Jed Clampett (the Beverly Billbillies) would be? According to Forbes Fictional 15, because of oil, gas, and banking investments, Clampett, worth $7.2 billion, is #5 on the list. C. Montgomery Burns, hometown Springfield, U.S.A.,