Posts Tagged ‘Lorenz Curves’

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    Why Are Most of Us Middle Class?

    Aug 28, 12 • 285 Views • No Comments

    “What then is the American, this new man?…He is an American, who, leaving behind him all his ancient prejudices and manners receives new ones from the new mode of life he has embraced, the new government he obeys, and the new rank he...  [read more]

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    Are the Rich Getting Richer?

    Jun 30, 11 • 248 Views • No 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,...  [read more]

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    Baseball Salaries and Taxes

    Apr 14, 11 • 230 Views • No Comments

    There is a connection between baseball and President Obama’s budget proposals. Let’s start with USA Today’s baseball salary database. For 2011, at $32 million, NY Yankees’ 3rd baseman Alex Rodriguez earns the most; #2 is LA...  [read more]

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    The Big Tradeoff

    Oct 1, 10 • 1243 Views • No 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...  [read more]

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    Conspicuous Consumption

    Jun 20, 10 • 310 Views • No 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...  [read more]