The NY Times recently interviewed economist Tyler Cowen on his views concerning income inequality. The major takeaway is Cowen's suggestion that improving economic opportunity for all Americans should be the focus of public discourse, not improving equality of outcome.
In this episode of EconPop, Andrew Heaton uses the Lego Movie as to illustrate why the invisible hand works better than central planning.
Minding the Campus recently published my response to an idea proposed by Kevin Carey to subject vocationally-oriented master's degree programs at non-profit colleges. I argue that the policy would be easily avoidable and likely generate unintended consequences. I propose an alternative two-tiered reform: (1) subject all colleges, regardless of profit status, to the same rules; and (2) tax all college enterprises that are regularly taxed in the private sector.
I recently posted the draft of a new working paper, "On the Ambiguous Economic Freedom-Inequality Relationship." In the paper, I conduct an extensive analysis of the empirical relationship between economic freedom and income inequality, finding that the results are sensitive to the econometric specification, measure of inequality, country sample, and/or time period analyzed. The results have policy implications: the adoption of freedom-reducing institutional or policy changes for the purpose of reducing inequality may be harmful for economic performance as well as fail to achieve greater income equality.
Assistant Professor of Economics at Patrick Henry College.