Eine Kleine Link Love

This is horrifying

Cloud is on point in this thread

Economists are also upset about income inequality. #2: how do they think we should fix it? #1: well, electing Trump was the wrong way to fix it. As to how we should fix it, there are two camps:Conservative economists believe we should invest more in education and job training so that poor people have more skills because there are too many unskilled laborers. Liberal economists believe that we should do that, but also we should be investing more in children and making sure that income is less variable and precarious for families with children so that these kids so that they can make investments in the future and can become more skilled. They also believe we need to tax the rich a hell of a lot more. BOTH sets were pro-Clinton

Faculty offices?

What do academic employers want?

Career crossroads

How long 1 million in retirement savings will last by state

I heard Laurel, but DC2 heard Jerry and DH and DC1 both heard Yarry

Reliable

Armed in her fashion

Delagar with a link to a Fault Lines giveaway

It took three years to work

The pain of homeownership

I wonder what they did with the pig this year

Disconcerting

#rebrandaspecies

A warning from basement cat

DH has been reading a lot of cat pic reddits

Aww

Mama Cass says vote

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15 Responses to “Eine Kleine Link Love”

  1. delagar Says:

    Thanks for the link!

    That story about ICE and the Dreamer is indeed horrifying. >:(

  2. becca Says:

    The gin and tacos thread, and the comments, were deeply satisfying. I enjoyed the evisceration of Tim mansplainer McMustachcian cult creepoid way more than I should have.

    If what you’ve posted were the only answers economists had to income inequality, I’d find that pretty distressing. Education is a credentialing rat race, and we have a skills surplus in wide swaths of the economy.
    Taxation can get us to where many of the more enlightened European countries are with regard to income inequality- and there is a huge moral argument in favor of that. However, it doesn’t change the very big picture problem- the accumulation of wealth in the hands of a very few on the global scale is truly astonishing.
    Also, for the US the political implementation problems are very serious. As long as inter-group resentments are such an easy lever with which to manipulate the US voting population, we can’t have nice things.

    The Atlantic article link jjiraffe posted on your last post was really useful in terms of putting the economy into context- we are very much in another gilded age (not to mention the teapot dome parallels).
    I am… unsettled, that the people who seem to see the problems as systematic and entrenched as I do seem to have only “well historically war or a plague solved this” as an answer. But I don’t have anything better, and many of the economists seem to be arguing for things that will make it worse.

    • nicoleandmaggie Says:

      Economists can’t/don’t do anything about politics– that job goes to other kinds of social scientists. It’s very frustrating when we know what the optimal answer is but can never get there because of politics. But that’s why we have other kinds of social science.

      And no, economists are not arguing for things that will make things worse. By more education we mean more high school completion, more 2 year degrees, more health degrees, more 4 year degrees (people with 4 year degrees are more productive even in jobs that don’t require them) and so on. They’re not arguing for more bio grads to do lab work. If you want to see economists talking about this kind of stuff, look for David Autor on Youtube– he lays it out clearly with evidence (there are other folks too, but he’s the one I’ve seen twice and so have on top of my brain). We have had an overabundance of skill-biased technical change which has caused widening income inequality not just among the Koch brothers demographic (which is caused more by politics than by SBTC) but among the post-high school education vs no post-high school demographics. So… basically you’re wrong that what conservative economists want will make things worse. You’re also ignoring that liberal economists want what you’re arguing for– higher taxes and more investment in children, equality, etc. (basically a Scandinavian version of socialism).

      • becca Says:

        Our healthcare expenditures as a percent of GDP are impressively higher than all peer nations- our healthcare workers are not impressively less skilled or educated. With medical bankruptcies being where they are, yeah, I do think more healthcare degrees could easily make things worse.

        Similarly, with student loan burden ballooning, I don’t calls for more education, without any thought to the *efficacy* of schooling- as anything more than rearranging deck chairs on the titanic.

        To my mind, the most damning part of that Atlantic article is this: “The metric that has tracked the rising college premium with the greatest precision is—that’s right—intergenerational earnings elasticity, or IGE. Across countries, the same correlation obtains: the higher the college premium, the lower the social mobility.”
        I see nothing about conservative economists that isn’t consistent with the hypothesis that they understand perfectly well that advocating for education is a way of avoiding changes that could actually impact economic justice.

        All those associated with American higher education, all those propping it up with their labor and earning their living from it, should realize it’s role in being the fig leaf of meritocratic decency on the obscene inequality at the core of our system. Is education a good thing? Of course. Is schooling serving as a way of enhancing job-relevant skills instead of anointing the already advantaged in a rapidly escalating and fundamentally unscalable-by-definition game of prestige? That is far from a given.

      • nicoleandmaggie Says:

        There’s efficacy to more schooling. Watch one of the David Autor videos. There’s no point in arguing with you if you don’t know the baseline facts.

    • Debbie M Says:

      What strikes me about the income inequality in America is that we are doing nothing about the problems of the market system (tragedies of the commons, tendencies toward monopoly). We need to legislate decent minimum standards in conjunction with decent labelling laws. Instead we have people buying based only on price and looks or taste rather that what’s going on behind the scenes, and we have our biggest companies getting there by cutting corners that decent human beings are not willing to cut. And then they bribe the politicians to make laws that reduce or eliminate their competition. And they try to make the general populace feel that they are deserving (plus keep us so busy trying to earn a living and do all the things “successful” people are supposed to do that we don’t have the time or energy to pay attention to what’s going on behind the scenes).

      [Basically, whenever I find out more about what’s going on behind the products and services I buy and behind the companies that are big enough that I’ve heard of them, it’s almost never good. And even when it is–Chick Fil-A is closed on Sundays because they’re Christian. They are are living their values even though it means fewer profits. And they use actual recognizable pieces of chicken in their sandwiches! So exciting that they’re not cutting corners to make a profit. And then I have to learn that they contribute to gay torture (“de-gayification) places. Ben and Jerry’s (which I toured) shows how they have a decent system of having the cows fertilize the land that is growing the grass that feeds them. Well, maybe some of their ice cream is from places like that, but nevertheless, somehow there’s Round-Up in some of their ice cream. (I’m sure that’s true of most of our food.) And let’s not even get into Monsanto, Microsoft, AT&T, etc.]

      Even if most people are decent human beings, if only the scumbags achieve “success,” we have a problem. (I’m sure there are exception. Thank goodness.)

      Now out-and-out lies are considered to be the norm, not just lies of omission. I’m so glad I’m not trying to teach kids how to deal with our world. I can barely do it myself.

  3. Debbie M Says:

    I enjoyed “Aww.” It feels good to have “mastered all four elements.”

  4. bookishbiker Says:

    I’m not sure I buy that article about how long $1m will last in retirement. Sure, I live in a coastal/more expensive state, but I bought a house 5 years ago, so a lot of what is going on with the price of housing feels like it doesn’t apply to me. I would expect that taxes and maintenance may cost more than in other states, but not SO much more that it cuts a decade off how far a million might take me.

  5. Revanche @ A Gai Shan Life Says:

    $1M will last … : I tend to believe that we need at least $2M per person to retire because of the possibility of health related devastation, which basically means we’re never retiring.

    Other already-retired friends think that I’m overly pessimistic.

    • nicoleandmaggie Says:

      We have friends who have a house out in Northern CA in 2008 for a little over 800,000. It is now worth well over 2 million. Their property tax is based off of 800K. They need a lot less to retire on than someone buying now!

      • Revanche @ A Gai Shan Life Says:

        Well that’s true, having bought now but not in the $2M range. The absolute numbers are scary. I’m thinking of how our taxes alone are somewhere in the neighborhood of $10-12K a year, plus unless the mortgage is PIF there is that huge note every month for the next 29 years, and then we’ve got to eat and run some heat … Retirement feels like a tougher nut to crack than it did before we had to move out of the old place. :/ Stupid horrible evil neighbors.


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