HispanicPundit + usa   429

‘Great Society’ Review: A ‘Mystical Belief’ in the State - WSJ
Great Society” is in part a story of how antipoverty programs like Community Action sprang into being and then nose-dived. But interspersed among Ms. Shlaes’s chapters on the programs’ architects are chapters on seemingly unrelated individuals and trends.
Books  Poverty  welfare  USA  History  barone  Shlaes 
8 days ago by HispanicPundit
American Unity Should Be a Priority - The Atlantic
In Washington’s view, public liberty depended on a process of mutual consultation—adjusting the interests of various parties in relation to one another—with the aim of achieving “consistent and wholesome plans” that could provide stability of direction over the long haul. Our very political institutions, born of compromise and sketched in the Constitution, were this country’s first plan. Washington believed that the business of government—of “public administration”—was to get important things done, that getting things done depended on compromise, that compromise was enabled by a commitment to unity, and that deciding what needed to be done required a long view of the public interest....I keep coming back to Washington because his emphasis on collective accomplishment is the forgotten half of America’s constitutional ethos. We all remember what the Founders said about electoral procedures, about checks and balances, about the basic rights of citizens. We forget that all these elements were part of a plan. We forget that they were supposed to be tools to help us create something. And we forget that politics and compromise are essential to the act of creation.
History  USA  AtlanticMonthly  constitution 
9 days ago by HispanicPundit
Primary Voters Have Way Too Much Power - The Atlantic
Americans rarely pause to consider just how bizarre the presidential nominating process has become. No other major democracy routinely uses primaries to choose its political candidates, nor did the Founders of this country intend for primaries to play a role in the republican system they devised. Abraham Lincoln did not win his party’s nomination because he ran a good ground game in New Hampshire; rather, Republican elders saw in him a candidate who could unite rival factions within the party and defeat the Democratic nominee in the general election. Today’s system amounts to a radical experiment in direct democracy, one without precedent even in America’s own political history.
democracy  USA  Republicans  Democrats  History  AtlanticMonthly  Campaign2016  TrumpCampaign 
10 days ago by HispanicPundit
Learning is Caring: An Agrarian Origin of American Individualism - Marginal REVOLUTION
This study examines the historical origins of American individualism. I test the hypothesis that local heterogeneity of the physical environment limited the ability of farmers on the American frontier to learn from their successful neighbors, turning them into self-reliant and individualistic people. Consistent with this hypothesis, I find that current residents of counties with higher agrarian heterogeneity are more culturally individualistic, less religious, and have weaker family ties. They are also more likely to support economically progressive policies, to have positive attitudes toward immigrants, and to identify with the Democratic Party. Similarly, counties with higher environmental heterogeneity had higher taxes and a higher provision of public institutions during the 19th century. This pattern is consistent with the substitutability of formal and informal institutions as means to solve collective action problems, and with the association between “communal” values and conservative policies. These findings also suggest that, while understudied, social learning is an important determinant of individualism.
USA  culture  Republicans  Democrats  NBER  Cowen 
4 weeks ago by HispanicPundit
Dechristianity by the numbers | Damian Thompson | Standpoint
Bullivant nails it when he says that Catholic devotionalism was pitted against “authentic liturgical participation” in a kind of zero-sum game that favoured the literate middle class: “More physical and material ways of practising one’s faith, such as lighting candles or (the bête noire of liturgical progressives) praying the rosary during Mass, were increasingly replaced by the verbal and cerebral.” Soon afterwards, Catholics stopped going to Mass—for many reasons, but the sudden loss of strange but satisfying traditional devotions must have been a factor. Meanwhile, another plank of the plausibility structure disappeared. The Council did not dismantle the authority of the Church, but it permitted its fragmentation. By the time Humanae Vitae banned contraception in 1968, vast numbers of bishops and priests had been emboldened by the “spirit of Vatican II” to advise Catholics to ignore the encyclical. Which they did.
Catholic  History  Religion  USA  Books 
5 weeks ago by HispanicPundit
Making Sense with Sam Harris #101 - Defending the Republic (with Cass R. Sunstein) - YouTube
Cass Sunstein gives his take on his book, impeachment, and various other things. The psychology of confirmation bias in media outlets and social media, and what can be done to push against that.
sunstein  SamHarris  Books  USA  constitution  TrumpAdministration  podcasts  psychology 
6 weeks ago by HispanicPundit
Making Sense with Sam Harris #103 - American Fantasies (with Kurt Andersen) - YouTube
Kurt Andersen, author of FantasyLand, talks about his book, how it predicted Trump, and what it says for the future.
TrumpAdministration  Books  conspiracy  psychology  History  USA  Religion  SamHarris  podcasts 
6 weeks ago by HispanicPundit
The Ezra Klein Show - Can Raj Chetty save the American dream? | Listen via Stitcher for Podcasts
The argument that culture is the cause of poverty and lack of mobility and what the government can do to mitigate it.
Poverty  culture  USA  Chetty  klein  podcasts  mobility  Lifeexpectancy  Blacks 
9 weeks ago by HispanicPundit
Raj Chetty’s American Dream - The Atlantic
On his national atlas, the most obvious feature is an ugly red gash that starts in Virginia, curls down through the Southeast’s coastal states—North Carolina, South Carolina, Georgia, and Alabama—then marches west toward the Mississippi River, where it turns northward before petering out in western Tennessee. When I saw this, I was reminded of another map: one President Abraham Lincoln consulted in 1861, demarcating the counties with the most slaves. The two maps are remarkably similar. Set the documents side by side, and it may be hard to believe that they are separated in time by more than a century and a half, or that one is a rough census of men and women kept in bondage at the time of the Civil War, and the other is a computer-generated glimpse of our children’s future.
Chetty  mobility  maps  USA  History  Blacks  AtlanticMonthly 
august 2019 by HispanicPundit
Chris Arnade on Dignity - Econlib
Arnade discussing his book on the poorest areas of society.
Poverty  USA  McDonalds  podcasts  EconTalk 
august 2019 by HispanicPundit
Which Way to the City on a Hill? | by Marilynne Robinson | The New York Review of Books
I am confident that our cultural investment in the image of Puritans as intolerant is vigorous enough that someone would have produced the damning evidence if it existed. A recent volume that contains Dale’s Laws notes without documentation that “neither the Puritans nor the Separatists believed in religious freedom…. They stressed the need for conformity within their community.”* Surely it is fair to ask, Compared to whom? They wrote beautifully on the subject of freedom of conscience. It is relevant to establishing the standards of the time that in Europe the Inquisition had been up and running for about four hundred years. The least repressive group, whatever its failings, is, eo ipso, the most progressive group.
History  USA  christians  puritans  NewYorkTimes 
july 2019 by HispanicPundit
No George Washington, no America - The Washington Post
Another lesson is that the democratic, sentimental idea that cobblers and seamstresses are as much history-makers as generals and politicians is false. A few individuals matter much more than most. Atkinson is clear: No George Washington, no United States.

Washington, writes Atkinson, learned that “only battle could reveal those with the necessary dark heart for killing, years of killing; that only those with the requisite stamina, aptitude, and luck would be able to see it through, and finally — the hardest of war’s hard truths — that for a new nation to live, young men must die, often alone, usually in pain, and sometimes to no obvious purpose.” The more that Americans are reminded by Atkinson and other supreme practitioners of the historians’ craft that their nation was not made by flimsy people, the less likely it is to be flimsy.
History  USA  will  Books 
june 2019 by HispanicPundit
The misuse of data on extreme poverty in the United States - Marginal REVOLUTION
Of the 3.6 million non-homeless households with survey-reported cash income below $2/person/day, we find that more than 90% are not in extreme poverty once we include in-kind transfers, replace survey reports of earnings and transfer receipt with administrative records, and account for the ownership of substantial assets. More than half of all misclassified households have incomes from the administrative data above the poverty line, and several of the largest misclassified groups appear to be at least middle class based on measures of material well-being. In contrast, the households kept from extreme poverty by in-kind transfers appear to be among the most materially deprived Americans. Nearly 80% of all misclassified households are initially categorized as extreme poor due to errors or omissions in reports of cash income. Of the households remaining in extreme poverty, 90% consist of a single individual. An implication of the low recent extreme poverty rate is that it cannot be substantially higher now due to welfare reform, as many commentators have claimed.
Poverty  USA  NBER  Cowen 
june 2019 by HispanicPundit
U.S. Economy & Personal Responsibility -- Those Bootstraps Still Work | National Review
But why, then, don’t more young men and women seize that opportunity? Annual reports from the Tennessee Higher Edu­cation Commission show that the people who take the scholarships tend to have higher academic achievement and higher median income than those who don’t. When an opportunity requires discipline, the disciplined will likely seize it, and some of that discipline comes from parents who refuse to let their children watch an opportunity pass them by.

Is there a boot on the neck of the working-class American? Yes, there is. Sadly, it is typically a man’s own boot. His own choices weigh him down. His own decisions destroy his future. Elites can help, and elites can hurt, but in the United States a man can still make his own way. If he can’t, the first person he should blame is the person who stares back at him in the mirror
Poverty  USA  French  NationalReview  culture 
april 2019 by HispanicPundit
(58) The Biology Behind Politics - YouTube
On how large cities skew left dramatically and the psychology behind it.
Politics  USA  graphs  video  Campaign2016  psychology 
march 2019 by HispanicPundit
"Yale Study Finds Twice as Many Undocumented Immigrants as Previous Estimates", by Steve Sailer - The Unz Review
Generally accepted estimates put the population of undocumented immigrants in the United States at approximately 11.3 million. A new study, using mathematical modeling on a range of demographic and immigration operations data, suggests that the actual undocumented immigrant population may be more than 22 million.
Immigration  USA  Sailer 
september 2018 by HispanicPundit
A Princeton sociologist spent 8 years asking rural Americans why they’re so pissed off - Vox
Robert Wuthnow
I make it very clear in the book that this is largely a choice. It’s not as though these people are desperate to leave but can’t. They value their local community. They understand its problems, but they like knowing their neighbors and they like the slow pace of life and they like living in a community that feels small and closed. Maybe they’re making the best of a bad situation, but they choose to stay.
Poverty  USA  culture  Inequality  voxeu 
july 2018 by HispanicPundit
The Birth of the New American Aristocracy - The Atlantic
Obesity, diabetes, heart disease, kidney disease, and liver disease are all two to three times more common in individuals who have a family income of less than $35,000 than in those who have a family income greater than $100,000. Among low-educated, middle-aged whites, the death rate in the United States—alone in the developed world—increased in the first decade and a half of the 21st century.
Inequality  mobility  USA  world  AtlanticMonthly 
june 2018 by HispanicPundit
Not Just Another Suicide - Brunersbreak
I wish I could say that I’m surprised at this. I’m not. The schedule that my guys have is mind boggling. One of my guys practices with his baseball team from the end of school, 2:00pm until 6:30pm. Then he has to go home and do 4 HOURS OF HOMEWORK. That’s right 4 hours. And this is the norm. They are constantly having to perform
culture  USA  Academia 
february 2018 by HispanicPundit
You Didn't Build That
As to tariffs, Cohen and DeLong break from two centuries of economic thinking beginning with Adam Smith and David Ricardo, which has held that free trade benefits economies and that tariffs usually have significant detrimental effects. It is true that Hamilton was a high tariff man and that the U.S. adopted high protective and revenue-raising tariffs. It is also true, however, that there is a general consensus that what economist Walt Rostow famously called America’s “take-off” into sustained economic growth occurred after 1840 (Rostow says 1843–1860), when tariffs were going down sharply. For example, shortly after the passage of the extremely high Tariff of Abominations in 1828, duties on imports were 61.69%, but as a consequence of tariff reductions (in 1832, 1833, 1846, and 1857), they fell sharply to 34.39% by 1840 and to 19.67% by 1860. Might rapid growth have started even earlier if we had not adopted the Hamilton high tariff policy praised by Cohen and DeLong? Students of tariffs from Frank Taussig to Paul David argued decades ago that the high tariffs were more an income redistributionist scheme for New England rent-seeking manufacturers than a sage policy to promote general economic growth.
tariffs  History  USA  China  industrialPolicy  DeLong  Vedder 
february 2018 by HispanicPundit
Doing the Best I Can: Social Science at Its Best, Bryan Caplan | EconLog | Library of Economics and Liberty
Even the title is far bleaker than it sounds. For the typical man they interviewed, "Doing the best I can" means "Doing the best I can... with what is left over."  "Left over" after what?  After the man takes care of himself - including the ongoing costs of alcohol, drugs, gambling, fighting, womanizing, and related vices.  Next, if he's living with a new girlfriend, he helps her and her kids.  Finally, if there's anything left, he doles it out to his biological children if and when the timing feels right to him.  It's not quite "the least they can do," but Edin and Nelson readily see why the children's mothers deeply resent their exes' corrupt priorities.
culture  Poverty  USA  Blacks  Caplan  welfare  sociology 
december 2017 by HispanicPundit
Understanding the Long-Run Decline in Interstate Migration - Marginal REVOLUTION
We analyze the secular decline in gross interstate migration in the United States from 1991 to 2011. We argue that migration fell because of a decline in the geographic specificity of returns to occupations, together with an increase in workers’ ability to learn about other locations before moving. Micro data on earnings and occupations across space provide evidence for lower geographic specificity. Other explanations do not fit the data. A calibrated model formalizes the geographic specificity and information mechanisms and is consistent with cross-sectional and time-series evidence. Our mechanisms can explain at least half of the decline in migration.

As I put it in the book, if you are a dentist you probably are not going to move from Columbus, Ohio to Denver, Colorado for higher dentist wages.  Rather you will figure out pretty early on which location you prefer and then stay there.
mobility  USA  cowen 
march 2017 by HispanicPundit
TheMoneyIllusion » Scott Alexander on the Holocaust
Scott emphasizes that the primary blame lies with the Nazis.  They did the murdering.  Nonetheless, the decision not to admit Jewish refugees did have horrendous consequences.  At the time, the “America First” movement was quite popular, somewhat anti-Semitic, and very isolationist.  In fairness, I probably would have been isolationist back then, but I’d hope I would not have been anti-refugee.
jews  USA  history  Codex  sumner 
february 2017 by HispanicPundit
Washington Monthly | How to Make Conservatism Great Again
But the standard line leaves out what happened next. In 1935, the Supreme Court struck down key provisions of NIRA as unconstitutional. And with that decision, the New Deal completely changed course. Rather than trying to suppress market competition, public policy shifted aggressively and successfully for the next four decades to making markets more open and competitive.
monopoly  anti-trust  fdr  USA  history  WashingtonMonthly 
january 2017 by HispanicPundit
Americans Believe Diversity is Our Strength - Marginal REVOLUTION
Surveys from the Pew Research Center show that Americans are much more positive about diversity than Europeans. Remarkably only 7% of Americans think that diversity makes America a worse place to live–the next closest on that score is Spain where more than three times as many people think diversity makes Spain a worse place to live.
diversity  USA  polls  tabarrok  Europe 
october 2016 by HispanicPundit
The Rich Are Also Different From One Another - Bloomberg View
The richest Americans are much less likely to have inherited their wealth than their counterparts in many supposedly more egalitarian countries. They’re not remarkably rich in degrees from elite universities. Rich Democrats have more social connections than rich Republicans....For all the talk of Sweden and Austria as relatively egalitarian societies, they are also the countries where the greatest proportion of high-net-worth individuals inherited their wealth: 43.8 percent and 49.6 percent, respectively. In the U.S., inherited wealth accounts for only 12.6 percent of the very wealthy individuals in the study’s sample.
wealth  USA  Europe  Cowen  bloomberg  Sweden 
october 2016 by HispanicPundit
After the Republic
Fifty years ago, prayer in the schools was near universal, but no one was punished for not praying. Nowadays, countless people are arrested or fired for praying on school property. West Point’s commanding general reprimanded the football coach for his team’s thanksgiving prayer. Fifty years ago, bringing sexually explicit stuff into schools was treated as a crime, as was “procuring abortion.” Nowadays, schools contract with Planned Parenthood to teach sex, and will not tell parents when they take girls to PP facilities for abortions. Back then, many schools worked with the National Rifle Association to teach gun handling and marksmanship. Now students are arrested and expelled merely for pointing their finger and saying “bang.” In those benighted times, boys who ventured into the girls’ bathroom were expelled as perverts. Now, girls are suspended for objecting to boys coming into the girls’ room under pretense of transgenderism. The mainstreaming of pornography, the invention of abortion as the most inalienable of human rights and, most recently, the designation of opposition to homosexual marriage as a culpable psychosis—none of which is dictated by law enacted by elected officials—is enforced as if it had been. No surprise that America has experienced a drastic drop in the formation of families, with the rise of rates of out-of-wedlock births among whites equal to the rates among blacks that was recognized as disastrous a half-century ago, the near-disappearance of two-parent families among blacks, and the social dislocations attendant to all that.
judicial-activism  Liberalism  USA  ClaremontInstitute  Trump  constitution  culture 
september 2016 by HispanicPundit
Germany's Middle Class Is Endangered, Too - Bloomberg View
n the U.S., the comparable group declined to less than 50 percent of the population in 2015 from 59 percent in 1983. In Germany (then West Germany), it included 62 percent of the population in 1981, and it shrank to 54 percent by 2013.

The drop in the middle class's share of income was steeper in the U.S. than in Germany, while the upper class's share also increased faster in the U.S. In both countries, the poorest pretty much kept their share:
middleclass  germany  USA  bloomberg 
september 2016 by HispanicPundit
Denmark's Nice, Yes, But Danes Live Better in U.S. - Bloomberg View
For instance, Danish-Americans have a measured living standard about 55 percent higher than the Danes in Denmark. Swedish-Americans have a living standard 53 percent higher than the Swedes, and Finnish-Americans have a living standard 59 percent higher than those back in Finland. Only for Norway is the gap a small one, because of the extreme oil wealth of Norway, but even there the living standard of American Norwegians measures as 3 percent higher than in Norway. And that comparison is based on numbers from 2013, when the price of oil was higher, so probably that gap has widened.
denmark  norway  switzerland  cowen  bloomberg  USA  nordic 
september 2016 by HispanicPundit
New Study Finds Evidence That Rents Might Be Higher in the US than in Europe -
Overall, according to the paper, wealth creation is much more dynamic in the US than in Europe. The US has a higher share of billionaire founders than Europe, and while fifty percent of European billionaires inherited their wealth, the share of American billionaires who inherited their fortunes is a little less than a third, and less than 10 percent of inherited US fortunes are fourth generation or older. The median age of European companies associated with billionaires is 61, compared with 42 in the US.
finance  Europe  USA  mobility  ProMarket 
august 2016 by HispanicPundit
Army Ranger Vet Tells Colin Kaepernick What He Should Be Doing Instead of Sitting Out Nat’l Anthem
“To disrespect the country that has afforded him the opportunities and fortunes he acquired is only made more offensive by the fact that his life is the personification of the ideals I see in the American flag and National Anthem: a biracial child, raised by white parents, and who has accomplished much despite his “oppression.” In how many more nations around the world can a story like that come to fruition?
USA  patriotism  black 
august 2016 by HispanicPundit
A Hardy Weed: How Traditionalists Underestimate Western Civ
Traditionalists' laments for Western civilization deeply puzzle me. Yes, it's easy to dwell on setbacks. In a world of seven billion people, you can't expect Western culture to win everywhere everyday. But do traditionalists seriously believe that freshman Western civ classes are the wall standing between us and barbarism? Have they really failed to notice the fact that Western civilization flourishes all over the globe, even when hostile governments fight it tooth and nail? It is time for the friends of Western civilization to learn a lesson from its enemies: Western civ is a hardy weed. Given half a chance, it survives, spreads, and conquers. Peacefully.
culture  USA  conservatives  caplan 
july 2016 by HispanicPundit
Labor Market Rigidity and the Disaffection of European Muslim Youth - Marginal REVOLUTION
Institutions that make it more difficult to hire and fire workers or adjust wages can increase unemployment and reduce employment, especially among immigrant youth. Firms will be less willing to hire if it is very costly to fire. As Tyler and I put it in Modern Principles, How many people will want to go on a date if every date requires a marriage? The hiring hurdle is especially burdensome for immigrants given the additional real or perceived uncertainty from hiring immigrants. One of the few ways that immigrants can compete in these situations is by offering to work for lower wages. But if that route is blocked by minimum wages or requirements that every worker receive significant non-wage benefits then unemployment and non-employment among immigrants will be high generating disaffection, especially among the young. - See more at: http://marginalrevolution.com/marginalrevolution/2016/03/crime-immigration-and-labor-market-assimilation.html#sthash.3TwkVWgG.dpuf
Immigration  Muslims  assimilation  USA  Europe 
april 2016 by HispanicPundit
For Poorer and Richer - NYTimes.com
But the basic point is this: In a substantially poorer American past with a much thinner safety net, lower-income Americans found a way to cultivate monogamy, fidelity, sobriety and thrift to an extent that they have not in our richer, higher-spending present. So however much money matters, something else is clearly going on.
culture  poverty  usa  douthat 
march 2015 by HispanicPundit
Bernstein on the History of Trade | EconTalk | Library of Economics and Liberty
On various 'revisionists' views of history from the Boston Tea Party to the role of free trade in pre-19th century economies.
podcasts  bernstein  trade  history  usa  econtalk 
october 2014 by HispanicPundit
Who's the richest person in your favorite European country? - Vox
The big difference between the US and Europe is that Europe doesn't have the technology barons and oil tycoons who often pop up in the ranks of American billionaires. Instead it's mostly about retail chains and finance, along with the fact that Nutella is perhaps a more lucrative business than one would have guessed.
europe  usa  wealth  maps  yglesias 
september 2014 by HispanicPundit
In Defense of Empire - Robert D. Kaplan - The Atlantic
The argument that for minorities civil rights protection, empires have generally been better.
minorities  racism  usa  history  foreignpolicy  civil-rights 
april 2014 by HispanicPundit
The Economic Illiteracy of High School History, Bryan Caplan | EconLog | Library of Economics and Liberty
The Big Picture: Industrialization was the greatest event in human history. Critics then and now were foolishly looking a gift horse in the mouth. Until every student knows these truths by heart, history teachers have not done their job.
history  usa  labor  caplan 
december 2013 by HispanicPundit
Koyama on Working Conditions During the Industrial Revolution, Bryan Caplan | EconLog | Library of Economics and Liberty
In the UK and by extension the US, if a household had an able bodied adult male able to work then normally they would not be desperately poor (Robert Allen's wage series show that real wages in English and the US were perhaps 2 or 3 times southern European wages and people were able to survive there). One reason why perceptions of poverty increased in England during the early 19th century (in addition to the point that it was just more concentrated and hence visible) was to due with the social dislocation associated with urbanization (much higher rates of illegitimacy, more single earner households etc.). Families without male earners were indeed desperately poor and reliant on very young children working and these households became more common during Industrialization.
history  usa  labor  caplan 
november 2013 by HispanicPundit
CONVERSABLE ECONOMIST: The Global Wealth Distribution
Total world wealth was about $241 trillion in 2013, with a little under one-third in North America, a little under one-third in Europe, and the rest spread around the rest of the world. Average wealth per adult for the world economy was $52,000, with North Americans averaging about six times that amount, while those in Africa and India averaged less than one-tenth of that amount.
timtaylor  europe  wealth  africa  usa  graphs  world 
october 2013 by HispanicPundit
CONVERSABLE ECONOMIST: The Poverty Rate: Income and Consumption Estimates
Thus, they write: "The results in this paper contradict the claim that poverty has shown little improvement over time and that antipoverty efforts have been ineffective. We show that moving from traditional income-based measures of poverty to a consumption-based measure, which is arguably superior on both theoretical and practical grounds—and, crucially, accounting for bias in the cost-of-living adjustment—leads to the conclusion that the poverty rate declined by 26.4 percentage points between 1960 and 2010, with 8.5 percentage points of that decline occurring since 1980."
timtaylor  poverty  sidebar  usa 
september 2013 by HispanicPundit
Welcome Back, McArdle, David Henderson | EconLog | Library of Economics and Liberty
Ultimately, it doesn't matter whether much whether Sweden changes its economy in ways that reduce the return to innovation, because Sweden is never going to be doing most of the innovation that drives its economic results. This is no slam on Sweden, mind you; it's just that, numerically, the overwhelming majority of new ideas are going to come from somewhere else. Germany is in the middle, but it's still a fraction of the size of the United States. Small countries are like little islands floating on an ocean of trade and capital, while the US is more like the jet stream, moving all the water around...so what happens to US growth matters a lot, to us and to others; we're almost a quarter of the world's GDP. If we slow down innovation, we will feel it; so will other countries, as the global economy slows. This will perhaps not always be the case; India and China are huge, and if they get rich, their economies (and presumably, their rate of innovation) will dwarf ours.
sidebar  henderson  mcardle  entrepreneurs  innovation  economic-growth  usa  sweden 
october 2012 by HispanicPundit
Are Monolingual Americans Missing Out?, Bryan Caplan | EconLog | Library of Economics and Liberty
2. Interesting people. Most Americans don't make friends with foreigners who do speak fluent English. Are we really supposed to believe they'd have a lot more in common with foreigners who don't speak English? If you object, "Everyone I know has lots of foreign friends," you're just underscoring the fact that you're far from a typical American.

3. Culture. Most Americans don't even watch foreign movies with subtitles or read foreign novels in translation. And these are the foreign cultural products that Americans are most likely to enjoy. After all, businesses tend to translate and market foreign cultural products with relatively high mass appeal. Are we really supposed to believe that many Americans would prefer foreign culture so esoteric that no business bothers with English translation?
english  culture  usa  caplan  sidebar 
august 2012 by HispanicPundit
Panics Happen - NYTimes.com
Walter Bagehot knew all about financial crises, which have been a constant feature of modern economies since at least the early 19th century. Just to drive the point home, I thought it might be worth posting Gary Gorton’s chart (pdf) of “panics” before the Fed went into operation:
monetary  fed  history  usa  krugman  sidebar 
may 2012 by HispanicPundit
The Future of Racism - NYTimes.com
But I can think of a half-dozen reasons why public expressions of race-based hostility might become more common... These reasons include the Internet’s tendency to make the taboo not-so-taboo anymore, our growing chronological distance from the institutional injustices whose successful overthrow made racism taboo in the first place, our culture’s obsession with genetic theories of just about everything, the fracturing of the Christian common ground that undergirded at least some of the belief in human equality, the way that diversity seems to increase social mistrust, the social gulf that increasingly yawns between upper-class whites who are invested in a multiracial society and lower-class whites who feel like losers in it, the potential growth of a grievance-based white identity politics as America becomes majority-minority, and the fact that white guilt over slavery and segregation will necessarily be a weaker cultural force in a country that’s more non-white in general.
blacks  usa  racism  race  douthat  sidebar  hispanics  polls 
april 2012 by HispanicPundit
Scott Winship summary on mobility and inequality — Marginal Revolution
…evidence on earnings mobility in the sense of where parents and children rank suggests that our uniqueness lies in how ineffective we are at lifting up men who were poor as children. In other words, we have no more downward mobility from the middle than other nations, no less upward mobility from the middle, and no less downward mobility from the top. Nor do we have less upward mobility from the bottom among women. Only in terms of low upward mobility from the bottom among men does the U.S. stand out.
mobility  genderissues  usa  debates  cowen  sidebar 
february 2012 by HispanicPundit
Steve Sailer's iSteve Blog: Inequality in California
The good news: the latest Hispanics youths are learning English, they aren't committing as many crimes as their predecessors, and aren't very politically ambitious on the whole. The bad news: they aren't studying very hard, aren't showing much in the way of smarts, aren't starting many businesses, aren't participating much in Silicon Valley, are voting steadily Democratic, are using a fair amount of welfare, aren't generating all that much tax revenue, aren't getting married, and so forth and so on.
majors  welfare  sidebar  sailer  usa  hispanic  mexico  immigration 
february 2012 by HispanicPundit
Temporary Employment: A New Ugly Rearing its Head in Europe? | Angry Bear - Financial and Economic Commentary
As highlighted by Clive Crook via Bentolila, Dolado, and Jimeno (or the Vox version), the cyclical aspect of Spain’s two-tier labor market – the two tier system consists of a large share of temporary workers ‘outside’ the permanent employment positions – can explain in part the boom in employment during the bubble and its crash during the recession. But that doesn’t explain the experience of the US. In 2005 (the last measured date for the US), temporary workers accounted for just over 4% of employment compared to 33% in Spain; however, like that in Spain, the US unemployment doubled during the crisis. What’s one country’s problem is not necessarily another country’s structural issue.
sidebar  AngryBear  usa  europe  spain  crook  labor  jobs 
february 2012 by HispanicPundit
Why economic mobility measures are overrated
4. Why do many European nations have higher mobility? Putting ethnic and demographic issues aside, here is one mechanism. Lots of smart Europeans decide to be not so ambitious, to enjoy their public goods, to work for the government, to avoid high marginal tax rates, to travel a lot, and so on. That approach makes more sense in a lot of Europe than here. Some of the children of those families have comparable smarts but higher ambition and so they rise quite a bit in income relative to their peers. (The opposite may occur as well, with the children choosing more leisure.) That is a less likely scenario for the United States, where smart people realize this is a country geared toward higher earners and so fewer smart parents play the “tend the garden” strategy. Maybe the U.S. doesn’t have a “first best” set-up in this regard, but the comparison between U.S. and Europe is less sinister than it seems at first. “High intergenerational mobility” is sometimes a synonym for “lots of pa
sidebar  cowen  culture  sweden  denmark  europe  usa  mobility 
january 2012 by HispanicPundit
Economics One: American Economic Freedom: Moving in the Wrong Direction
Economic freedom in the United States continues to decline according to the latest Index of Economic Freedom (compiled by the Heritage Foundation) as reported today by Ed Feulner in the Wall Street Journal.
sidebar  taylor  usa  capitalism  freedom 
january 2012 by HispanicPundit
Response to “Paul Krugman”
Massive quantities of valuable, real resources are used up to raze the Rockies.  The workers and resource owners didn’t pay for these resources to be used in this way (as these workers and owners voluntarily contributed, for pay, to the effort).  Taxpayers paid; and the cost can be reckoned in the foregone value of whatever it is those workers and resources would have produced had they not instead been used to raze the Rockies.  The net cost to Americans of razing the Rockies clearly is $10 billion – a cost that doesn’t disappear simply because the tax payments by some Americans of $10 billion were received fully as income payments by other Americans.
deficits  fundamentals  debt  usa  krugman  boudreaux  sidebar 
december 2011 by HispanicPundit
America Is Not Exceptional - NYTimes.com
What we’re looking at is a world of depressed demand, where government securities look like a good buy everywhere except in countries that either don’t have their own currency or have large debts in foreign currency, making them vulnerable to self-fulfilling panic. It’s a world in which deficit obsession is mad, bad, and dangerous.
sidebar  sidebar  sweden  britain  usa  krugman  financialcrisis  inflation  macro 
december 2011 by HispanicPundit
A Moment of Communion with Paul Krugman | Politics | Economics | The American Scene
My motivation in writing about political economy is, in some ways, much like Krugman’s. But rather than seeing that moment as primarily the product of policies like unionization, entitlements and high taxes, as is Krugman’s view, I believe that it was primarily the product of circumstance. We had just won a global war, and had limited competition; we had a huge wave of immigration, followed by a multi-decade pause; oil was incredibly cheap; a backlog of technical developments had yet to be exploited and scaled up, and so forth. We can’t go back there, at least not exactly.
brentonwoods  usa  krugman  manzi  sidebar 
december 2011 by HispanicPundit
Growing Economies, Stagnant Wages - NYTimes.com
Still, the United States was not the worst of the bunch. In Canada, median pay didn’t grow at all between 2000 and 2007.

The moral of the story is that the United States isn’t the only country experiencing growing inequality. Most of the rest of the developed world is, too.
wages  middleclass  france  germany  usa  inequality  economix  sidebar 
november 2011 by HispanicPundit
The Euro area is 'miserable' | Angry Bear - Financial and Economic Commentary
For all of our economic problems here in the US, a simple measure of 'misery' illustrates that US households are less miserable in March 2011 than those in the Euro area.
usa  euro  europe  happiness  economy  financialcrisis  angrybear  sidebar 
october 2011 by HispanicPundit
Keeping America's Edge > Publications > National Affairs
American economic policy in the wake of World War II was developed by a generation of statesmen who dealt themselves a great hand of cards, and then played it brilliantly. It is hard to exaggerate the strength of America's competitive position in the world economy in September 1945: The United States accounted for an absolute majority of all global manufacturing output, had the world's most technologically advanced economy with ample supplies of natural resources, and could protect this state of affairs with an essentially invincible military that possessed a nuclear monopoly. Most of the rest of the world was in ruins, pre-industrial, or under the control of communist regimes that smothered economic initiative.
brentonwoods  usa  history  economic-growth  conservatives  liberals  nationalaffairs  manzi  sidebar 
august 2011 by HispanicPundit
Simon Johnson: Which Is in Worse Shape, U.S. or Europe? - NYTimes.com
But rhetoric masks reality on both sides of the Atlantic. The euro zone still faces an immediate crisis: the can was kicked down the road last week, but not far. The United States, on the other hand, is in much better shape over the next decade than you might think after listening to politicians of any stripe.
financialcrisis  economix  usa  sidebar  europe 
july 2011 by HispanicPundit
The Colonial Origins Of American Prosperity | ThinkProgress
Reasoning backwards, crossing the Atlantic ocean to go from England to the proto-USA was an enormously costly and risky undertaking. Nobody would have done it unless the wages were higher. South America was colonized by poorer countries and had larger indigenous populations and thus a different dynamic. But again as I said before, the story of American prosperity isn’t a story about a poor country that used good policy to become rich. We’ve essentially always been a rich country and if there’s a policy issue it relates to continental europe’s failure to “catch up.”
latinamerica  wages  usa  britain  history  chicanoism  yglesias  sidebar 
july 2011 by HispanicPundit
Beyond The Top One Percent | ThinkProgress
I’m all for that, but I really do think it’s an unduly limited view of political life. Even with several decades of median wage stagnation, the fact of the matter is that the median American household has quite a lot of money compared to the median household of almost every other country. And yet, I think there are a lot of other respects in which quality of life in the United States falls short. We spend a lot of time in traffic jams. We have both a frighteningly high murder rate and a frighteningly high level of incarceration. Our health care system is very inefficient. Americans work very long hours and have unusually little vacation time. It’s not clear to me that any of these issues can be usefully tackled primarily by focusing on higher taxation of the very wealthy.
wages  middleclass  usa  europe  yglesias  sidebar 
july 2011 by HispanicPundit
The End of Eurosclerosis - NYTimes.com
More detailed analysis shows that the remaining gap comes from lower employment rates in Europe for the young and old; prime-age workers, especially men, are if anything more likely to be working in Europe.
europe  labor  usa  graphs  krugman  sidebar 
july 2011 by HispanicPundit
On Jobs, the U.S. Is Turning Into Europe - NYTimes.com
The gap had been narrowing even before the Great Recession, largely as a result of social and economic policy changes in Western Europe. For example, the authors note, in the mid-2000s Germany and Italy deregulated markets for temporary hiring, which enabled more people to find jobs. Reductions to Europe’s traditionally generous pensions have also encouraged workers to work later in life.
labor  europe  usa  graphs  economix  sidebar 
july 2011 by HispanicPundit
Wishful Thinking On European Employment | ThinkProgress
Spain had a smaller share of its population employed at the business cycle peak than the Untied States had at the business cycle trough. Italy had an even smaller share than that employed. This reflects, among other things, southern European attitudes toward family and child-rearing that, like them or not, are unlikely to simply vanish with the wave of a Eurocrats’ wand. And yet somehow we’re expected to believe that Italy can undertake some kind of labor market reform that will allow it to attain the level of employment that the United States had at the business cycle peak in the face of both fiscal and monetary contraction. How’s that supposed to work? And who seriously wants to bet on it happening?
spain  italy  labor  usa  yglesias  sidebar  graphs 
july 2011 by HispanicPundit
A lost generation
Does this seem like a good use of human resources? And what this chart only begins to hint at is that these high rates have been sustained for a long period, and are unlikely to return to normal levels anytime soon. One in five young Europeans is out of a job and the story isn't much better in America. These are the world's two largest economies. The economic costs are staggering, and the potential political economy impact isn't very comforting either.
labor  graphs  europe  usa  financialcrisis  economist  sidebar 
july 2011 by HispanicPundit
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