Comments on: Economic Inequality: The Wall Street Journal is Just Wrong http://itcouldhappenhere.com/blog/wsjiswrong/ Wed, 26 Oct 2011 16:28:39 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: U.S. Income Inequality Is Frightening–And Much Worse Than We Thought « SF Gray Panthers http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-123 U.S. Income Inequality Is Frightening–And Much Worse Than We Thought « SF Gray Panthers Mon, 23 Nov 2009 20:45:49 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-123 [...] two weeks ago, I critiqued a Sept 10, 2009 front page story in the Wall Street Journal titled, Income Gap Shrinks in Slump [...] [...] two weeks ago, I critiqued a Sept 10, 2009 front page story in the Wall Street Journal titled, Income Gap Shrinks in Slump [...]

]]> By: Citigroup’s A-for-effort doesn’t cut it: too big to fail institutions are too dangerous to exist » New Deal 2.0 http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-51 Citigroup’s A-for-effort doesn’t cut it: too big to fail institutions are too dangerous to exist » New Deal 2.0 Mon, 12 Oct 2009 22:01:28 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-51 [...] *A version of this post appeared originally on Judson’s blog, itcouldhappenhere.com.  [...] [...] *A version of this post appeared originally on Judson’s blog, itcouldhappenhere.com.  [...]

]]> By: Glass-Steagall 2.0: The American People Deserve An Explanation » New Deal 2.0 http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-38 Glass-Steagall 2.0: The American People Deserve An Explanation » New Deal 2.0 Thu, 01 Oct 2009 16:32:47 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-38 [...] *This post appeared originally on Judson’s blog, itcouldhappenhere.com.  [...] [...] *This post appeared originally on Judson’s blog, itcouldhappenhere.com.  [...]

]]> By: Income Inequality: No Such Thing – Good Thing – Necessary Evil – Gone Thing? « P.A.P. Blog – Politics, Art and Philosophy http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-36 Income Inequality: No Such Thing – Good Thing – Necessary Evil – Gone Thing? « P.A.P. Blog – Politics, Art and Philosophy Thu, 01 Oct 2009 06:59:31 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-36 [...] the third view has some relation to the truth. Regarding the first view: The basic conclusion of this data, that the nation [the U.S.] suffers from extreme and growing income inequality, is essentially [...] [...] the third view has some relation to the truth. Regarding the first view: The basic conclusion of this data, that the nation [the U.S.] suffers from extreme and growing income inequality, is essentially [...]

]]> By: Links: September 2009 « Consider the Evidence http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-35 Links: September 2009 « Consider the Evidence Thu, 01 Oct 2009 00:46:40 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-35 [...] Wall St Journal wrong on economic inequality, by Bruce Judson [...] [...] Wall St Journal wrong on economic inequality, by Bruce Judson [...]

]]> By: New Income Inequality Data: Surprising and Frightening » New Deal 2.0 http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-30 New Income Inequality Data: Surprising and Frightening » New Deal 2.0 Wed, 30 Sep 2009 16:26:15 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-30 [...] two weeks ago, I critiqued a Sept 10, 2009 front page story in the Wall Street Journal titled, Income Gap Shrinks in Slump at [...] [...] two weeks ago, I critiqued a Sept 10, 2009 front page story in the Wall Street Journal titled, Income Gap Shrinks in Slump at [...]

]]> By: Mogens http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-23 Mogens Sun, 27 Sep 2009 08:51:16 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-23 Mistrust and inequality is not very productive in any society. The way we measure economic performance is far too primitive to give any usefull information about the quality of life. Consider the following example. In the USA the amount of lawyers pr 1000 inhabitants are far greather than in Denmark, because we generally trust each other. Does those extra misstrust costs allthough they boost the US GNP actually makes anyone (exept the lawyers) any richer or more happy? I doubt. Another example. The health system in the USA costs 16% of GNP, and the danish costs about the half. Their performance are almost similar, and the coverage in Denmark is 100%. Does that mean, that the addidional costs, increasing the GNP of the USA with about 8% actually makes anyone having a better life? We have to find other ways to measure economic performance. Mistrust and inequality is not very productive in any society.
The way we measure economic performance is far too primitive to give any usefull information about the quality of life.
Consider the following example. In the USA the amount of lawyers pr 1000 inhabitants are far greather than in Denmark, because we generally trust each other. Does those extra misstrust costs allthough they boost the US GNP actually makes anyone (exept the lawyers) any richer or more happy? I doubt.
Another example. The health system in the USA costs 16% of GNP, and the danish costs about the half. Their performance are almost similar, and the coverage in Denmark is 100%.
Does that mean, that the addidional costs, increasing the GNP of the USA with about 8% actually makes anyone having a better life?
We have to find other ways to measure economic performance.

]]> By: Jeff J http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-18 Jeff J Tue, 22 Sep 2009 12:35:14 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-18 Any comments about this, Mr. Judson? http://papers.nber.org/papers/w15351 Any comments about this, Mr. Judson?

http://papers.nber.org/papers/w15351

]]> By: Economic Inequality: The Wall Street Journal is Just Wrong « Economics Info http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-17 Economic Inequality: The Wall Street Journal is Just Wrong « Economics Info Sun, 20 Sep 2009 17:00:52 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-17 [...] Source [...] [...] Source [...]

]]> By: AlanDownunder http://itcouldhappenhere.com/blog/wsjiswrong/comment-page-1/#comment-16 AlanDownunder Sun, 20 Sep 2009 13:23:47 +0000 http://itcouldhappenhere.com/blog/?p=5#comment-16 What Stelios said in point 1. Inequality means more debt and a larger financial sector - more and more excess wealth employing more and more intermediaries to find more and more borrowers who are less and less creditworthy. Our recent inequality spike presaged the GFC just like the gilded age presaged the GD. What Stelios said in point 1.

Inequality means more debt and a larger financial sector – more and more excess wealth employing more and more intermediaries to find more and more borrowers who are less and less creditworthy.

Our recent inequality spike presaged the GFC just like the gilded age presaged the GD.

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