July 06, 2003

Piketty and Saez (2001), "Income Inequality in the United States, 1913-1998"

Thomas Piketty and Emmanuel Saez (2001), "Income Inequality in the United States, 1913-1998" (Cambridge: NBER Working Paper No. w8467).

Posted by DeLong at July 6, 2003 07:03 PM | TrackBack

Comments

I see they charge. And I'm cheap.

Posted by: Ian Welsh on July 6, 2003 11:01 PM

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I agree with you Ian ! Here's a link (Saez's home page), where you can download for free:

http://emlab.berkeley.edu/users/saez/w8467.pdf

Posted by: Andrew Boucher on July 6, 2003 11:52 PM

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I agree with you Ian ! Here's a link where you can get the paper for free (from Saez's home site) :

http://emlab.berkeley.edu/users/saez/w8467.pdf

Maybe Brad is trying to do his bit to increase the pay of economics professors !

Posted by: Andrew Boucher on July 6, 2003 11:56 PM

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The inverted U, it seems, is more accurately described as a vicious circle:

"Wage inequality has increased substantially in
the last three decades and is today as high as in the inter-war period. This suggests that with the decline in tax progressivity since the early 1980s, and
furthermore if the estate tax is repealed, the US might experience again in a few decades levels of wealth concentration similar to those of the beginning of the century."

Posted by: Bryan Pfaffenberger on July 7, 2003 04:39 AM

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One revealing graph is to compare the mean income in each decile or quintile with the median income in the same decile or quintile.

You will find that not only are we becoming more and more unequal between the top 1% and everyone else, but that within socio-economic groups, the last 20 years has marked a continuous move towards more and more inequality.

The Republicans are the party of Class Civil War - telling groups that they can compete better against their economic peers with tax cuts. Tax cut debates are often phrased in how well different kinds of people within one group do against each other - children tax credits against other forms of tax relief being a cardinal example.

Posted by: Stirling Newberry on July 7, 2003 05:51 AM

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also a journal article in QJE, Feb 2003

Posted by: dfreeman on July 7, 2003 06:15 AM

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"You will find that not only are we becoming more and more unequal between the top 1% and everyone else, but that within socio-economic groups, the last 20 years has marked a continuous move towards more and more inequality."

Important point in an important and worrisome article. The question is whether we really do value a middle class society.

Posted by: anne on July 7, 2003 09:45 AM

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Brad Brad

Imagine Google is asking your readers to hurry along to the Heritage Foundation. Sort of Rush Limberger for the pretentious woman. Thanks Google. Phooey.

Posted by: lise on July 7, 2003 09:47 AM

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This is the study that was repeatedly quoted by Paul Krugman in his New York Times Magazine article last fall.

Posted by: Kimon on July 7, 2003 05:37 PM

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Thanks Andrew.

Posted by: Ian Welsh on July 7, 2003 07:45 PM

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"Important point in an important and worrisome article. The question is whether we really do value a middle class society."

One would have to assume that we don't, since as a society the US does less and less to suppor the existence of one. It's odd, really, because the rich won't benefit financially from it in the long run - the consuming middle class is the backbone of America's extraordinary prosperity.

A friend of mine who grew up in a number of South American nations is incredulous - she wonders if the rich realize what life is like even for the rich in highly inequal societies - even the rich aren't safe here. That was part of the old bargain in the West - the lower classes became prosperous and the rich were safe from the lower classes.

That bargain has been broken.

Posted by: Ian Welsh on July 7, 2003 07:49 PM

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Hello Folks,nice site youre running!

Posted by: Preteen on October 12, 2003 10:06 AM

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Nice site you have!

Posted by: lolita on November 4, 2003 01:13 AM

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Posted by: Preteen on November 10, 2003 07:24 AM

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Greetengs

Posted by: Underage on November 10, 2003 07:44 AM

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a possible mechanism for wealth disparity other than govt taxation (imho a red herring): fractional reserve banking as economic parasitism

http://econpapers.hhs.se/paper/wpawuwpma/0203005.htm

Posted by: vznuri on December 22, 2003 08:59 AM

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a possible mechanism for wealth disparity other than govt taxation (imho a red herring): fractional reserve banking as economic parasitism

http://econpapers.hhs.se/paper/wpawuwpma/0203005.htm

Posted by: vznuri on December 22, 2003 09:01 AM

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