Category Archives: Poverty

The Social Construct of Purchasing Power Parity

Why are some countries rich while other countries are poor? And how is national income distributed? It really depends on how poverty and prices are measured and compared. One common construct used by the International Monetary Fund (IMF) is the … Continue reading

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Interest Rate Obsessions & Social Costs

There’s been a lot of talk, speculation and sheer obsessional madness in the econosphere about the possibility of interest rate increases from the Fed. Yes it’s bad for markets, it’s bad for the economy, it’ll cause a recession, and all … Continue reading

Posted in Economic Theory, Economics, Labor, Macroeconomics, Poverty, Public Policy, Socioeconomics | Leave a comment

The Difference Between Poverty Versus Inequality

Paul Krugman is musing about the relationship between GDP growth and inequality. Most of his analysis I agree with, especially the “data massaging.” I’m primarily a Sociologist, but I also hold a Master’s in Economics, and find data massaging a … Continue reading

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

Wage Slavery, Veterans, and Girl Scout Cookies

It seems unlikely that Wage Slavery, Veterans and Girls Scout cookies would go together, but I think that they do. USA Today reports that Ted Cruz’s grand idea to pay for services to Veterans who gave their lives in the … Continue reading

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The Social Construct of Minimum Wage

The dirty little secret in both Sociology and Economics is that a “living wage” is a purely social construct. Everyone defines it differently, some based on arbitrary numbers, and many based on cultural norms and values.  The Economic Policy Institute, … Continue reading

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Baltimore: A City Near You (Committing Sociology)

The Justice Policy Institute (PDF) has put together some really interesting facts on Baltimore from Census data. While the facts are shocking to most (or at least should be), the fact not mentioned is that Baltimore is just like the east … Continue reading

Posted in Economics, Health, Political Economy, Politics, Poverty, Public Policy, Race, Socioeconomics | Leave a comment

It Really Was the Economy, Stupid!

It turns out that the U.S. mid-term election really was about the economy. Now that the dust has settled, and everyone has thrown their two cents in, there’s one thing missing from all the analysis and speeches: the Economy. The … Continue reading

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The Battle of the Rants

It seem Paul Krugman is upset with Rick Santelli (and rightly so), founder of the Tea Party for continuing to rant about the wrong things. But it occurred to me that there is another rant from 2007 that no one … Continue reading

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Credit Is Not Wealth: Median Income Death Spiral

The Sage Foundation at Stanford University published a report (PDF) that shows there is still this mantra among most Americans, Canadians (now) and banks that says that having credit is the same as having wealth. If 2007 taught us anything, credit … Continue reading

Posted in Economics, Labor, Poverty, Socioeconomics, Wages | Leave a comment

Monopoly Power and Human Rights

The Daily Beast reports that Detroit cut off water to residents owing money while NOT cutting off businesses (including the state) that owe millions of more dollars. Detroit’s problem of cutting off a human right – water – is founded … Continue reading

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