Archive for January 6th, 2010
Theory of the Leisure Class
From Angry Bear
Starting with the $200-500K category, the share of earnings from labor begins a marked decline. By the time you hit mid-six figures, average earnings from income, dividends, and capital gains become high enough to provide middle-class or better incomes without (necessarily) working. Tax returns in the upper-six-figure bucket, on average, show more income [...]
Posted: January 6th, 2010 under Geek Stuff, The Dismal Science.
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Death of the Chicago School?
After having a spectacular run that transformed policies from Tierra del Fuego to London, could it be that the Chicago School has entered a period of terminal decline? Let us hope….
Why is the Chicago School of Economics such an intellectually bankrupt line of thinking? It represents two major cognitive errors: First, it attempts to be [...]
Posted: January 6th, 2010 under The Dismal Science.
Comments: none