The Golden State is now home to 111 billionaires, by far the most of any state. In total, California billionaires personally hold assets worth $485 billion, more than the entire GDP of all but 24 countries in the world. At
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John Cochrane writes in the Wall Street Journal An Autopsy for the Keynesians Excerpts: Inequality was fashionable this year. But no government in the foreseeable future is going to enact punitive wealth taxes. Europe’s first stab at “austerity” tried big taxes
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Like the Russian oligarchs, the moguls of turn- of- the- twentieth- century America have become so powerful because, unlike many firms in other industries, software giants such as Google, Facebook, Microsoft, and Oracle face still limited foreign or domestic competition.
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Between 2001 and 2011, the number of nonprofits increased 25 percent to over 1.5 million today. Their total employment has also soared and at 10.7 million in 2010 was larger than that of the construction and finance sectors combined, expanding
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The most profound level of inequality and bifurcated class structure is found in the densest and most influential urban environment in North America— Manhattan. In 1980, Manhattan ranked seventeenth among the nation’s more than 3,000 counties in income inequality; by
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University of Chicago economist John Cochrane has written one of the most unique and insightful perspectives on inequality in his blog, The Grumpy Economist. Read Why and how we care about inequality in its entirety. It is about 6 pages long. excerpts:
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As a blogger with a day job, I often find myself curating other posts- selecting and commenting. Over the years I have found a few writers that I frequently return to. My Favorite writers for 2014: 1. Kevin Williamson- National
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Scott Grannis writes in his blog, Calafia Beach Pundit, Too much poverty, or too much aid? excerpts: In 1970, the population of the U.S. was just over 200 million. Today it is approaching 320 million. When the food stamp program
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University of Chicago economist John Cochrane has written one of the most unique and insightful perspectives on inequality in his blog, The Grumpy Economist. Read Why and how we care about inequality in its entirety. It is about 6 pages long. excerpts:
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University of Chicago economist John Cochrane has written one of the most unique and insightful perspectives on inequality in his blog, The Grumpy Economist. Read Why and how we care about inequality in its entirety. It is about 6 pages long. excerpts:
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In The Wall Street Journal Phil Gramm and Michael Solon write How to Distort Income Inequality- The Piketty-Saez data ignore changes in tax law and fail to count noncash compensation and Social Security benefits. excerpt: An equally extraordinary distortion in the
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University of Chicago economist John Cochrane has written one of the most unique and insightful perspectives on inequality in his blog, The Grumpy Economist. Read Why and how we care about inequality in its entirety. It is about 6 pages long.
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Kevin Williamson writes in National Review, Who Boycotts Walmart Excerpts: It is easy to scoff, but I am ready to start taking the social-justice warriors’ insipid rhetoric seriously — as soon as two things happen: First, I want to hear
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In The Wall Street Journal Phil Gramm and Michael Solon write How to Distort Income Inequality- The Piketty-Saez data ignore changes in tax law and fail to count noncash compensation and Social Security benefits. excerpt: Messrs. Piketty and Saez also did
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University of Chicago economist John Cochrane has written one of the most unique and insightful perspectives on inequality in his blog, The Grumpy Economist. Read Why and how we care about inequality in its entirety. It is about 6 pages long. excerpts:
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Economist John Cochrane writes in the WSJ- What the ‘Inequality’ Warriors Really Want Excerpts: Yes, the reported taxable income and wealth earned by the top 1% may have grown faster than for the rest. This could be good inequality—entrepreneurs start
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In The Wall Street Journal Phil Gramm and Michael Solon write How to Distort Income Inequality- The Piketty-Saez data ignore changes in tax law and fail to count noncash compensation and Social Security benefits. excerpt: The chosen starting point for
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Economist Mark Perry writes in Carpe Diem When we consider all US CEOs and all US workers, the ‘CEO-to-worker pay ratio’ falls from 331:1 to below 4:1 Excerpts: The AFL-CIO is comparing: a) the average salary of a small sample (350)
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Jonah Goldberg writes Mr. Piketty’s Big Book of Marxiness in the July issue of Commentary. Excerpt: Of course, America has poor people, though it has relatively few who go hungry because capitalism has failed them. The average poor person in America, in
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Kevin Williamson writes What to Do About Wages in The National Review. Excerpts: The Left sees inequality as a cause of economic facts, not an effect of them. As EPI sees things, inequality is an independent actor, a motive force
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Piketty’s Absence of Historical Context
Jonah Goldberg writes Mr. Piketty’s Big Book of Marxiness in the July issue of Commentary. Excerpt: Of course, America has poor people, though it has relatively few who go hungry because capitalism has failed them. The average poor person in America, in