@milescorak.com
Professor of economics The Graduate Center, City University of New York Senior Scholar The Stone Center on Socio-Economic Inequality #socialmobility #childrights #inequality #jobs #poverty #socialpolicy #cdnecon #EconSky https://milescorak.com/
A more apt analogy for the taxation of America’s rich would be “the aristocracy of pre-revolutionary France, who were exempt from paying almost all taxes”, argues Ray Madoff in a guest essay
An excellent review of my "Great Global Transformation" by Philippe Cunliffe.
Neoliberalism in One Country? | Compact
www.compactmag.com/article/neol...
Tonight's class in Economics for Everyone @thegraduatecenter.bsky.social is about a core principle of economics.
The case for free trade was made 200 years ago, and is based on David Ricardo's idea of comparative advantage.
#TeachEcon
milescorak.com/my-teaching/...
Neither theory, history or the latest data suggests a recession driven by AI job dislocation is likely, WSJ’s Greg Ip writes.
Basic economics at work!
the distinction between the legal and the economic incidence of a tax, and between marginal and fixed costs.
“Tariffs as levied added to marginal cost; tariff refunds have no effect on marginal cost. So you don’t expect them to be reflected in any give back to consumers”
Chrystia Freeland writes in this wide ranging essay that
“appeasing a predatory hegemon doesn’t work.
What does work … is using the bargaining chips you have, including retaliating when you are attacked.”
But she doesn’t really know what comes next!
www.nytimes.com/2026/02/25/o...
We’re pleased to announce a $10 million gift from the James M. and Cathleen D. Stone Foundation, which supports the work of @stone-lis.bsky.social www.gc.cuny.edu/news/10-mill... @cuny.edu
"I think the millennial dream went bust a long time ago." — @amil.bsky.social, author of “Life After Ambition: A Good Enough Memoir,” talks with @jeyantvo.bsky.social about the promise for millennials vs. the reality of trying to become successful, tonight at 8pm | Producer: @carrletta.bsky.social
"JPMorgan Chase CEO Jamie Dimon said Monday that he was anxious over the U.S. economy, citing elevated asset prices and a competitive environment in banking that reminded him of the pre-2008 crisis years."
www.cnbc.com/2026/02/23/j...
But that should be recognized as the start of the conversation that has to be sensitive to non linearities.
The log-log specification has that theoretical motivation but calls for better theory and practice to appreciate non linearities. I use it as an overall summary measure of mobility line the Gini is used for inequality
Yes, I agree with that later paragraph. Also for economist it lacks, or better yet, calls for a theoretical motivation.
I have long wondered about this. The Chetty et al paper in the QJE that kicked started all of this found a linear relationship. I often felt that this approach and result were motivated by limits in the data, the rather young age of the adult children and the large fraction of zeros at the lower end
As snow continues to fall, a New Yorker was spotted skiing across the street in Downtown Brooklyn.
What happens when married couples work from home and the man does the online shopping? Shifting to remote work increases prices paid for groceries by about 1%
Once again demonstrating that understanding tax incidence is one of the more important things you get from studying economics.
No worries, email me then
Here is the schedule of the Seminar in Applied Economics @thegraduatecenter.bsky.social for this semester
www.gc.cuny.edu/economics/se...
@thegraduatecenter.bsky.social will host @drodrik.bsky.social as the next speaker in the Seminar in Applied Economics to discuss his just published @princetonupress.bsky.social book.
DM me for a Zoom link to join us from 10:30 to noon on Tuesday February 24th.
press.princeton.edu/books/hardco...
The elderly are physically and financially healthier than ever. So why do their needs keep taking priority over younger generations? writes Greg Ip.
The Stone Center’s latest work on class mobility is a must-read. Our team introduces a dynamic new framework to measure movement and class persistence across generations. Read the NBER working paper now.
The world’s middle powers are boosting cooperation in areas from trade to security in a bid to ensure they don’t become roadkill in the new world order.
Too many Americans are just not seeing the world as it is. Those “unfriendly” numbers should be a lot higher.
"... the belief that great ideas are entirely new. In practice, he argues, many innovations grow out of existing ones, often by borrowing or transplanting concepts from one field to another."
www.wsj.com/arts-culture...
“The West is feeling its betrayal turn into rage. The world is waking up to both its vulnerability and its value. But better late than never: We’re all Canadian now.”
www.nytimes.com/2026/02/06/o...
Why did so many young people vote for Donald Trump in 2024? One hears this was about angry young men turning against an increasingly woke Democratic Party. Something deeper is going on: the young are unhappy, and they have largely lost trust in other people. open.substack.com/pub/eduardoe...
New paper in the American Economic Journal: "Among patients already admitted to the hospital when a ransomware attack begins, in-hospital mortality increases by 34–38 percent." www.aeaweb.org/articles?id=...
Episode 2 of the Economics for Inclusive Prosperity podcast with Princeton University economist Atif Mian is live! Mian says record inequality is pushing US and world economies dangerously out of balance. "Distribution really matters," he says. Listen now! podcasts.apple.com/us/podcast/e...
