Showing posts with label Economic Policy Institute. Show all posts
Showing posts with label Economic Policy Institute. Show all posts

July 24, 2018

Income inequality at a glance


The Economic Policy Institute recently released a study that measures income inequality in the US and in each state. Specifically, it measures the difference between the income of the wealthiest 1 percent versus the bottom 99.

 If you have a minute, check out this chart about US numbers (spoiler: the wealthiest 1 percent makes 26.3 times more than the bottom 90 percent).

In West Virginia, the top 1 percent brings home 15.3 times more than the rest. Our lower numbers reflect a shortage of wealthy people here. Or, if you want to look at the bright side, we rank 47th among states, i.e. we're one of the more equal.

The only states with lower numbers are Iowa (48), Hawaii (49), and Alaska (50). For what it's worth, New York state has the highest level of inequality using this measure. You can check out the full report here and look up other states here.

Wherever you look, though, the gap is too big.

August 20, 2015

Trumped

Sometimes I think Donald Trump might be a political double agent or agent provocateur.

Other times I think how awesome a Trump administration might be for pure entertainment value (in a make believe world, of course NOT in the real one). In that virtual world scenario, I kind of envision a "team of rivals" in the cabinet, with such luminaries as Gene Simmons, Gary Busey, and Meat Loaf...

Busey would make an awesome imaginary secretary of state...

In the real world, however, Trump's views on immigration, aside from the having no basis in reality thing, could be a recipe for political disaster for a certain political faction.

If you actually want a fact-based look at the issue, this might be a good place to start. Or, if you're in a hurry, you could check this op-ed by Jared Bernstein out.


December 20, 2013

September 07, 2011

Fountain of what?


Earlier this summer, as an exercise is spiritual self-mortification, I waded through Ayn Rand's The Fountainhead. Regular readers might recall earlier disrespectful posts in the subject.

It so happened about the time I was done with the book that a friend, who happens to be a Jesuit priest, told me I should check out the film version. I figured, why not? After on, once one has wallowed in a manure pit there is no reason to go out of one's way to avoid stepping in some.

Then I got downright curious about the movie version. The novel, such as it is, stretches on for hundreds and hundreds of pages. How could someone get it into a movie?

It turned out that the 1949 film version was written by Rand herself. And, to give the devil her due, I must say she really did it. For all the inevitable differences between a book and a movie, she got the feel of it...which is to say the film is every bit as comically wretched as the novel.

Gary Cooper stars as the architect Roark. He was a lot cooler in Sargent York. He just looks kind of silly over two hours of posturing and swaggering. And poor Patricia Neal, who played Dominique Fancon. She just kind of darts around the screen like some odd tropical fish in an aquarium.

Roark's buildings are apparently intended to strike the viewer with their originality, although in retrospect they are kind of comic versions of the kinds of architectural monstrosities we've gotten used to over the last half century.

One final thought: Rand in both the book and film continually slams ancient, medieval and Renaissance architecture in favor of modern boxes. After tooling around Italy for a week this summer and viewing all kinds of the old stuff, I'll take it any day of the week.

SOMETHING THAT WORKED. Nutritional assistance programs kept hunger in check during recent hard times.

A BLOG OF NOTE. Here's a link to the Economic Policy Institute's new blog.

WORK SHARING. Dean Baker argues that it should be part of President Obama's jobs program.

GOAT ROPE ADVISORY LEVEL: ELEVATED

February 04, 2011

Not your average mead hall


The theme at Goat Rope these days is Beowulf, that first surviving Old English epic. If you like this kind of thing, please click on earlier posts. You'll also find links and comments about current events below.

As I mentioned earlier, there are some direct references to the Bible in the poem. Most of these are to early chapters in Genesis. Anglo-Saxons were fascinated with the Cain and Abel story and they liked the parts about giants in the earth and the Great Flood.

There may also be some indirect biblical references. The story of the building of Heorot, the mother of all mead halls by Hrothgar, king of the Spear-Danes, could be an allusion to the tower of Babel story. The whole raiding/pillage/tribute thing was going pretty good for this king:


To Hrothgar was given such glory of war,
such honor of combat, that all his kin
obeyed him gladly till great grew his band
of youthful comrades.


As often happens, powerful rulers like to create architectural monuments to their power. And among the North Sea raiding peoples, any self-respecting lord needed to have a drinking hall where all he could get the band together for drinking and reveling.

(I'd be pretty much down with the program, although I'm not a real mead fan.)

Anyhow, Hrothgar decides to build a truly grand mead hall. As the poem goes,


It came in his mind
to bid his henchmen a hall uprear,
a master mead-house, mightier far
than ever was seen by the sons of earth,
and within it, then, to old and young
he would all allot that the Lord had sent him,
save only the land and the lives of his men.
Wide, I heard, was the work commanded,
for many a tribe this mid-earth round,
to fashion the folkstead. It fell, as he ordered,
in rapid achievement that ready it stood there,
of halls the noblest: Heorot he named it
whose message had might in many a land.


Here he doled out rings and goo-gaws with the best of them, gift giving being the preferred way of ensuring the loyalty of his retainers.

But as often occurs in myths and legends, such ambitious efforts often come to naught. A shadow of doom hangs about the place. It is destined to be the scene of terrible carnage from the monsters and of still worse from family strife.

But that will keep till next time.

THE STATE OF WORKING AMERICA has just been released by the Economic Policy Institute, which has been publishing these every other year or so since 1988. My short summary of the latest edition: not that great.

EXTREME WEATHER. Get used to it. Better yet, do something about climate change.

JOBLESS CLAIMS dropped last week, although not enough to dent the unemployment rate.

WHITHER PROGRESSIVES? Here's what Barbara Ehrenreich suggests. I don't always agree with her but generally find what she has to say to be interesting.

GOAT ROPE ADVISORY LEVEL: ELEVATED