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Scott Winship
Director of Social Capital Project, Joint Economic Committee, Office of Vice Chairman . "lovable but irksome" - Sean McElwee (also - )
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Scott Winship retweeted
Robert VerBruggen Nov 19
Here's a write-up I did of a Meyer paper this year btw:
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Scott Winship Nov 20
CPI-E, though, should be avoided in my view. No elderly-specific substitution incorporated--just elderly-specific weights for the consumer basket.
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Scott Winship Nov 20
Another reason using the PCE deflator to adjust for cost of living differences should IN NO WAY be controversial. It suffers from biases like the one described by in relation to housing. BEA & BLS think it overstates health care inflation too
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Scott Winship Nov 20
Replying to @asmith @esoltas
Income has risen by a comparable amount if you look at comprehensive post-tax & -transfer income.
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Scott Winship Nov 19
So your prediction is that liberals will also say Ivanka emails are a non-issue?
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Scott Winship Nov 19
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Scott Winship retweeted
Craig Garthwaite Nov 19
This is a good example of why we don't do policy by polling. I imagine 92% of Americans would not support a negotiation system that involved some drugs being denied to seniors, but that's the only negotiation strategy that would cause the price decreases they've been promised.
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Scott Winship Nov 19
Looking forward to the impending hypocrisy from both sides
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Scott Winship Nov 19
Robert Samuelson on CBO data debunking the stagnation story. Read it if you spent the weekend arguing with me about consumption poverty
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Scott Winship Nov 19
Replying to @lenburman
Since 1980, wages have been stubbornly stagnant for the median MALE worker. Though I think that's a reflection of legacy male breadwinner premiums having to dissipate before productivity levels justified wage gains again in '90s.
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Scott Winship Nov 19
Replying to @weltview @esoltas
Plus, some of that is student loan debt, but the wealth figures don't value the asset (human capital) financed by that debt.
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Scott Winship Nov 19
Replying to @weltview @esoltas
If you look at debt, you have to also look at assets. Both have been rising. Assets less debt (wealth) has risen since 1980. It's not much different today than late 1980s, but that's thanks to financial crisis, not a general trend. Bottom fifth was wealthier than ever in 2007
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Scott Winship Nov 18
Replying to @CCMarimba @esoltas
They're not in surveys. And the trend data for homelessness is all over the place. Prob wouldn't greatly affect the data
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Scott Winship Nov 18
Frank has this (to me) hilarious part in his stock presentation where he shows the hut in which he lived during the Peace Corps and then his house in Ithaca before insisting he only needs the former and it's only relative position concerns that make us buy the latter.
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Scott Winship Nov 18
Agreed! In particular, it might have curtailed Robert Frank's success over the past 20 years in claiming that relative position is so much more important than absolute position.
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Scott Winship Nov 18
Sure it does. Middle class incomes are still an all-time high. Poverty (using comprehensive income measures) is at an all-time low. Google "CBO distribution of income"
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Scott Winship Nov 18
Yep. And those numbers overstate the rise in income concentration to boot
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Scott Winship Nov 18
No, the Fed doesn't have a time series for that going back to 1980s. Sorry. And that's the article I debunked in the link I sent
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Scott Winship Nov 18
Washing clothes used to be incredibly arduous. And it involved using lye barehanded
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Scott Winship Nov 18
It's also just a weird thought experiment for people to grasp. How many Harvard folks know what living on $50K is like? How would prices be "the same as they currently are" in worlds with such different income distributions? etc.
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