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 Post subject: Income inequality a myth?
PostPosted: Wed Oct 19, 2011 11:37 am 
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So it's claimed.


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 Post subject: Re: Income inequality a myth?
PostPosted: Wed Oct 19, 2011 12:22 pm 
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Quote:
When various statistical quirks are harmonized between the two economic measures...


Wow, just wow. Any study that uses those terms is questionable at best.

Quote:
... traditional measures of inequality ignore how inflation affects the rich and poor differently: “Inflation of the richest 10 percent of American households has been 6 percentage points higher than that of the poorest 10 percent over the period 1994–2005. This means that real inequality in America, if you measure it correctly, has been roughly unchanged.” And why is that? China and Wal-Mart. Lower-income families spend a larger share of income than wealthier families on goods whose prices are more directly affected by trade. Higher income folks, by contrast, spend more on services which are less subject to foreign competition.


Because lower income people are forced to buy things that they need. Higher income folx can spend a larger fraction of their income on services and luxury good. Oh dear, we seem to have a definition of disparity. Agree or not on right or wrong, that is a definition of disparity. You can twist the statistics all you want, there are a large number of people that are upset that they can't get jobs, are having problems getting ends to meet, etc.

Root cause is irrelevant (and garbling statistics is going to solve nothing for those that feel they are dispossessed) there is an expectation in this country now that we're not supposed to live as subsistence farmers or menial laborers.

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 Post subject: Re: Income inequality a myth?
PostPosted: Wed Oct 19, 2011 12:26 pm 
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Lane, while the piece has its flaws, you seem to be arguing that the rich are rich. While the piece is discussing the claim that today the rich are richer.

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 Post subject: Re: Income inequality a myth?
PostPosted: Wed Oct 19, 2011 12:45 pm 
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Speaking of income disparity, offered with no comment.

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 Post subject: Re: Income inequality a myth?
PostPosted: Wed Oct 19, 2011 1:08 pm 
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I don't know about the Wall Street preoccupation, but ours here seems to be made up of predominantly young white people who took social justice in university and want to keep in practice.

Notes from the occupation

Quote:
The protest mostly featured the usual suspects – anti-capitalists, environmentalists, union types chanting “Solidarity,” and aging hippies nostalgic for their youth. The faces were overwhelmingly white.
<snippy>
“We are the new silent majority,” said a 23-year-old in a plastic Guy Fawkes mask. He told me he’s in the record business, but it’s tough to make a living because no one will give him grants. “Why should artists have to work instead of just making art?” he asked. “In a better world, it’s your birthright to have the things you need to survive.” His two masked friends nodded. One is a student who said he pays too much tuition. The other has a lowly job in a large software company. “They gave all the managers an iPad,” he groused. “But I’m the one who’s supposed to know how they work.”

So much for the voice of the oppressed masses. These kids don’t need a revolution. They need pacifiers.


And, it's pretty ironic that they are wearing Guy Fawkes masks. They should be protesting (blowing up) parliament not the stock exchange.

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 Post subject: Re: Income inequality a myth?
PostPosted: Thu Oct 20, 2011 12:50 pm 
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Work ethic inequality is certainly not a myth.

http://www.therightsphere.com/2011/10/occupywallstreet-protesters-go-on-private-property-and-threaten-to-disrupt-business/

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 Post subject: Re: Income inequality a myth?
PostPosted: Thu Oct 27, 2011 12:35 am 
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Prof Richard Epstein on why inequality is not bad.

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 Post subject: Re: Income inequality a myth?
PostPosted: Fri Oct 28, 2011 3:34 am 
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What does image inequality accomplish?

http://www.khaleejtimes.com/DisplayArti ... ion=theuae


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