Remember: Just because an idea is old doesn't mean it's good.
More from Noah Smith
1/OK, let's take a little break from Coup Twitter, and think about an economic issue:
How can we build up the wealth of the middle class?
2/The typical American has surprisingly little wealth compared to the typical resident of many other developed countries.
This is a fact that is not widely known or appreciated.
3/Now, some people argue that stuff like Social Security or social insurance programs should be included in wealth. But I chose to focus on private wealth because I think having assets you can sell whenever you want is important to
4/For many decades after World War 2, middle-class wealth in America was on a smooth upward trajectory.
Then the housing crash came, and all that changed. Suddenly the rich were still doing well but everyone else was seeing the end of their American Dream.
5/Why the divergence?
Because the American middle class has its wealth in houses -- specifically, in the houses they live in.
It's the rich who own stocks.
How can we build up the wealth of the middle class?
2/The typical American has surprisingly little wealth compared to the typical resident of many other developed countries.
This is a fact that is not widely known or appreciated.
3/Now, some people argue that stuff like Social Security or social insurance programs should be included in wealth. But I chose to focus on private wealth because I think having assets you can sell whenever you want is important to
Yes, these numbers don't include things like Social Security, just privately held wealth. They're not an attempt to capitalize every possible future income stream.
— Noahtogolpe \U0001f407 (@Noahpinion) January 10, 2021
4/For many decades after World War 2, middle-class wealth in America was on a smooth upward trajectory.
Then the housing crash came, and all that changed. Suddenly the rich were still doing well but everyone else was seeing the end of their American Dream.
5/Why the divergence?
Because the American middle class has its wealth in houses -- specifically, in the houses they live in.
It's the rich who own stocks.
Bloomberg Ideas conference now starting! I will be live-tweeting it. You can watch on our Facebook or Twitter pages (links below)!
Our first panel is about cryptocurrency! We have @matt_levine, @tylercowen, @eiaine, @nirkaissar, and Camilla
Ou: Crypto will be useful for the unbanked.
Cowen: Crypto has to compete against a bunch of other emerging payments technologies. Bitcoin is too inflexible.
Cowen: I'll bet on the payments companies over crypto.
Today and tomorrow we'll be having a Bloomberg Ideas event!
— Noah Smith (@Noahpinion) October 25, 2018
Today will be a panel on cryptocurrency.
Tomorrow will be panels on the economics of AI, and on regulation of big tech companies.
You can watch livestreams here:https://t.co/1dC0ELGvabhttps://t.co/Juz5Mp2EC1 pic.twitter.com/VfxOscNflo
Our first panel is about cryptocurrency! We have @matt_levine, @tylercowen, @eiaine, @nirkaissar, and Camilla
Ou: Crypto will be useful for the unbanked.
Cowen: Crypto has to compete against a bunch of other emerging payments technologies. Bitcoin is too inflexible.
Cowen: I'll bet on the payments companies over crypto.
1/OK, data mystery time.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
More from Society
1/ One year of destroyed economies, social isolation & deep social splits calls for an anniversary ⬇️thread ⬇️ to celebrate the RT-qPCR manuscript by Christian Drosten (@c_drosten) & Victor Corman (@vmcorman), submitted on 21st Jan 2020 to @Eurosurveillanc. #UnbiasedScience
2/ Before this very publication, virologists were neither treated like superstars, nor were they considered icons or half-gods. In 2009, Drosten almost succeeded in installing the false premise virology could supersede holistic medical sciences as discussed in this thread.
3/ Drosten is a virologist. He neither has any background in epidemiology, nor has he ever worked in the civil service. He also doesn’t have a background in public health. Yet he and his colleagues affect our daily lives to the level of whom to meet up or how to flush the toilet.
4/ Before January 2020, Drosten and Corman were common virologists at Charité Berlin, whenever they were not involved in economic implications (https://t.co/UTDwG8U7Du). Other than that, they looked at coronaviruses in dromedary calves in the Middle East or Africa. 😍 #cute
5/ Finally in Jan 2020, the published paper laid the theoretical grounds for the current pandemic, the RT-qPCR mass testing-religion, for which he was awarded his second German Federal Cross of Merit (he received the first one in 2005 for developing the SARS-CoV PCR test).
2/ Before this very publication, virologists were neither treated like superstars, nor were they considered icons or half-gods. In 2009, Drosten almost succeeded in installing the false premise virology could supersede holistic medical sciences as discussed in this thread.
3/ Drosten is a virologist. He neither has any background in epidemiology, nor has he ever worked in the civil service. He also doesn’t have a background in public health. Yet he and his colleagues affect our daily lives to the level of whom to meet up or how to flush the toilet.
4/ Before January 2020, Drosten and Corman were common virologists at Charité Berlin, whenever they were not involved in economic implications (https://t.co/UTDwG8U7Du). Other than that, they looked at coronaviruses in dromedary calves in the Middle East or Africa. 😍 #cute
5/ Finally in Jan 2020, the published paper laid the theoretical grounds for the current pandemic, the RT-qPCR mass testing-religion, for which he was awarded his second German Federal Cross of Merit (he received the first one in 2005 for developing the SARS-CoV PCR test).
Okay, let's do this summary again since there seems to be a collective amnesia relating to Christian Abolitionism in America.
Here again is a summary of the Christian Abolitionists’ arguments against enslavers’ appeals to the Scripture: Thread
Here again is a summary of the Christian Abolitionists’ arguments against enslavers’ appeals to the Scripture: Thread
Slavery is not a sin. It is never outlawed by the Bible. Manstealing is but not slavery.
— micah (@laborersarefew) February 20, 2021
Murdering babies and sodomy are sins according the the Bible. YOU don't get to make up things as you go Dolly, neither do I or Malachi.
