Friday, July 10, 2015

Labor Force Participation Rate

As this cartoon suggest, when workers drop out of the labor force, they are not counted in the unemployment rate calculation.  Most of the workers who are dropping out are men who use this "hands" to perform work.  The work that men perform is being replaced by robots and capital goods.

Monday, July 06, 2015

Income Inequality

Here are eleven charts that begin to show income disparity.

According to Mother Earth, 10% of the population controls 67% of the income in the United States.  As the cartoon suggests, those in the top 10% are able to influence the laws to favorably allow them to retain their wealth.  In economics, this is called rent seeking.

I became interested in income inequality after the release of Thomas Piketty's Capital.  I bought Joesph Stiglitz' book on inequality too.  Both of these books are wonderful, intense reads.




Sunday, June 07, 2015

MRUniversity: The Solow Model 1 – Introduction

MRUniversity: The Solow Model 1 – Introduction



This tutorial is from the authors of Marginal Revolution.  I have found that Tyler Cowen explains the Solow Growth model better than anyone else.

Monday, June 01, 2015

Fisher Effect

Write writing test questions on aggregate demand, I found this graphic.