We Have the Long-Awaited News About Who Will Control the Minnesota State House
60 Minutes Reporter Who Told Trump Hunter's Laptop Can't Be Verified Afraid Her...
Wait, Is Joe Biden Even Up to Sign the New Government Spending Bill?
Van Jones Has Been on a One-Man War Against the Dems
Van Jones Clears the Air About Donald Trump With a Former CNN Editor,...
Whoopi Goldberg Shares an Insane Theory About Trump, Vance, and Elon Musk
When in Charge, Be in Charge
If You Try to Please Everybody, You’ll End Up Pleasing Nobody
University of Arizona ‘Art’ Exhibit Demands Destruction of Israel
Biden-Harris Steered Us Toward Economic Doom; Trump Will Fix It
Argentina’s Milei Seems to Have Cracked the Code on How to Cut Government...
The Founding Fathers Were Geniuses
KJP Gets Absolutely Grilled By Reporters Over Biden 'Quiet Quitting' His Duties
Republicans Celebrate 'Huge Win' for Trump In Congress After Third Spending Bill Passes
Biden Admin Withdraws Proposed Title IX Sports Rule Change
Tipsheet

On Increasing Income Inequality

The brilliant Gary Becker and Richard Posner take their blog (The Becker-Posner Blog) to tackle income inequality this weekend.

Becker:

The best longer-term solution to the inequality problem is to reduce the fraction of Americans who dropout of high school, a theme I have continued to emphasize in various postings on our blog. This drop out fraction has been stagnant for the past several decades at about 30% for males, and a somewhat lower but still high percent for females. This is almost surely the highest fraction of high school dropouts among rich countries, and is heavily concentrated among children from African-Americans and Hispanic families. In large cities, often less than half of all the children enrolled in public schools end up graduating.
Advertisement

Posner:

In considering the effect of wage stagnation and growing income inequality, it is important to distinguish between money income and standard of living. As long as the quality of goods and services increases (largely because of technological innovation in a broad sense that includes new business methods as well as scientific and engineering progress) faster than their cost, the standard of living will rise even if incomes do not. The quality of health care continues increasing rapidly, and part at least of the rapid rise in health insurance premiums is payment for that increased quality. The quality-adjusted cost of consumer electronics has plummeted in the same period.

Self-recommending as always. And for the best recent inequality read, see Will Wilkinson.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement