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July 2, 2023
New York’s Quality of Life Budget: Focus on Improving Conditions for Everyday People First
With no little fanfare, the City Council passed legislation requiring New Yorkers to separate their food waste for composting. Unmentioned amidst the claims for environmental progress was the fact that, even in a less aggressive plan included in Mayor Adams’ budget, the city would have to add 158 collection trucks to its sanitation fleet, at a…
June 21, 2023
The Bad Math Behind Economic Doomerism
It’s a big week for American Compass, a think tank founded in 2020 that fancies itself as the “pre-eminent alternative to the Old Right’s market fundamentalism.” On the heels of its new policy book, Rebuilding American Capitalism, it hosts an event on Capitol Hill today with multiple Republican senators. It’s the latest sign of the intellectual confusion afflicting…
June 14, 2023
Better Data Means Better Policy
“Did you adjust for inflation?” An occupational inconvenience of doing economic research is that you are routinely asked by disbelieving non-researchers whether your numbers have taken into account the rising cost of living. The answer to that question is nearly always, “Yes.” The debates among researchers are about how to adjust earnings and income for inflation, and…
December 15, 2022
The Myth of Income Stagnation
According to the conventional wisdom, income stagnation and inequality are large and growing threats to broad-based prosperity in the United States. Many economists, journalists, business leaders, and elected leaders (from both parties) believe that for a large share of households, real (inflation-adjusted) income has not increased for decades, and that income inequality – the gap between higher- and lower-income households –…
January 3, 2022
Dynamism as a Public Philosophy
The populist turn of the American right over the past decade has created a policy affinity, if not an ideological one, between nationalist conservatives and mainstream progressives. Both camps are energized by a moral narrative about the injustices of corporate greed and the failures of the elite, which expresses itself through support for industrial policy,…