Is Income Volatility Really Rising? For Whom?

Jacob Hacker‘s Great Risk Shift described rising income risk over recent decades as an important and quite general phenomenon. While there’s been plenty of controversy around that claim, the most careful analysis I have seen roughly supports Hacker’s contention. (The CBO, using different data and a different methodology disagrees.) What Hacker actually shows is that […]

We’re All Above Average, Aren’t We?

What do American drivers, the children of Lake Wobegon, and termites have in common? They are all above average. Here’s what a regular reader called LLP pointed out in an e-mail: There is a TV ad running here in Southern California for a pest control company. It states that “the average termite eats 24 hours […]