Monthly Archives: August 2013

The Rise of the New Low-Wage Class

OxFam America just released a (very disturbing) random survey of low-wage workers (PDF). It’s packed with so much “stuff” that I’m not sure where to begin. It kind of validates my theory on rent seeking behavior of labor for hours, … Continue reading

Posted in Economics, Political Economy, Poverty, Socioeconomics, Sociology, Wages | Leave a comment

Wednesday’s Feel Good Music

I haven’t posted anything in a few days, mostly because I was attempting to be “productive” as the Fall Semester has begun. Also, there are so many things to write on: like Noah Smith turning his blog over to bumbling … Continue reading

Posted in Sociology | Leave a comment

Marginal Utility and College Costs (Wonkish Theory)

As President Obama makes his case for a higher education system that can be quantified in quality, it strikes me that most colleges do not operate on market principles on a micro level. Most markedly, they do not use Marginal … Continue reading

Posted in Economics, Public Policy, Socioeconomics | Leave a comment

The Pure Poop of Alternative Energy

A friend of mine who is a graduate student in Engineering at the University of Michigan wrote a paper on alternative energy planning that he affectionately calls “Pure Poop.” The main gist of his paper is that there are too … Continue reading

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The Bachelor’s Degree Blues: Back To School Edition

For all of those freshman flooding college campuses this week: Welcome to High School. The Bachelor’s Degree has been the new high school diploma for the past decade. There’s a frightening new study out from the Economics Policy Institute that … Continue reading

Posted in Socioeconomics, Sociology, Wages | 1 Comment

The Whomping Rupee

The big news in Economics and Sociology seems to be the Rupee taking a nose dive into the Indian Ocean. Yet, no one knows why the Rupee is falling, and fewer understand why it matters (yes, I know that would … Continue reading

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Canada’s Housing Bubble: The American Version

Watching the Canadian Housing Bubble bloom (literally) in my back yard, I can’t help but make some comparisons, and ask “is this really happening?” The great thing about Statistics Canada (unlike the U.S.) is that they keep records of everything. … Continue reading

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Credit is Not Wealth: The Spanish Acid Reflux Edition

Much to my dismay, the Wall Street is reporting that people feel “confident” again to spend credit in consumer markets. There’s some problems with this scratch-the-surface theory: it simply isn’t true. Wall Street is making this claim as Retail sales are … Continue reading

Posted in Demand, Economics, Political Economy, Public Policy | Leave a comment

The Fallacy of Inflationary Wages

Sometimes it’s just a good idea to just let history be your guide. There’s the usual argument between Academic Economists (pdf) and the Wall Streeters who are at odds over whether or not raising the minimum wage would cause inflation. … Continue reading

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Slave wages versus wage slavery and Labor Rents

Using some data sets from the Bureau of Economic Analysis, I managed to figure out that a slave would make $3.77 per hour in 2011 dollars if he weren’t a slave. That makes $3.77 per hour the “slave wage”. The … Continue reading

Posted in Economics, Poverty, Slavery, Sociology, Wages | Leave a comment