Mike Konczal has a good piece in the American Prospect about the coming possibility of full employment and the monetary policy battles on the horizon. Central to Konczal’s piece is the debate over the non-accelerating inflation rate of unemployment (NAIRU). In lieu of giving a full explanation of NAIRU, it suffices here to simply say… Continue reading The problem of NAIRU and racial justice
Author: Matt Bruenig
New college wage premium numbers from Census
Regular readers will be well-acquainted with my interest in the college wage premium. The fact that college graduates make significantly more than those with lower levels of educational attainment is relevant, I argue, to debates about how best to finance higher education. Well, the Census is out with new wage premium numbers, and their estimates… Continue reading New college wage premium numbers from Census
The best way to measure “wasted youth”
Yesterday, Suzy Khimm of Wonkblog had a post about some of the difficulties involved in cross-country comparisons of youth economic woes. Generally, people refer to headline numbers about youth unemployment, but that is not as meaningful a number as it might first appear. Different countries have different percentages of individuals in higher education and vocational… Continue reading The best way to measure “wasted youth”
People of color pretty concerned about economic issues
Whether it’s a constant striving for novel analysis or sheer ignorance, there exists a sizable contingent on the left — usually white — that have very bizarre views of what primarily troubles people of color. To be sure, all classes of people have numerous troubles, and it’s useful to talk about all of them. But… Continue reading People of color pretty concerned about economic issues
What is a mutually beneficial transaction really?
Imagine you are going on a nature walk on an extremely cold day. You are ten miles from your home or any other shelter. I come along, point a gun at your head, and steal all of your clothes, but leave you your wallet. I then offer to sell you the bundle of clothes I… Continue reading What is a mutually beneficial transaction really?