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October 15, 2024
Why Should the US Wish to Be More Like China?
…works because their economy is embedded in an authoritarian state with a compliant industrial sector. Rather than uniting our allies, the protectionist policies of the Trump and Biden administrations have…
October 9, 2024
Learning the Right Lessons from the “China Shock”
…the extent that adverse effects on import-competing workers created Keynesian aggregate-demand reductions, post-2007 economic slack was a major contributor. The paper is well titled: “Protectionism is Failing and Wrongheaded: An…
December 18, 2023
The State of Democratic Capitalism: 2023
…— six years after the financial crisis — for the median inflation-adjusted wages to return to its level in 2007 level. For six years, over half of workers lost ground. It is…
December 14, 2023
The Myth of the 1%
…and more women have entered the workforce. This considerable improvement in Americans’ well-being is more striking than the share of income accruing to the country’s highest earners. Compare a median-income household to…
December 15, 2022
The Myth of Income Stagnation
…confirm that the conventional wisdom is off-base. According to the CBO, median household income from market activities – labor, business, and capital income, as well as retirement income from past…