Posts tagged with: Mark J. Perry

piggybanksBy Presidential Proclamation, today is “Equal Pay Day,” a day meant to draw attention to the “fact” that women still aren’t getting paid the same as men. No matter how hard we try, we just can’t seem to catch up. 77 cents on the dollar – that’s where we ladies are sitting and stagnating.

Except it’s a myth. In today’s Wall Street Journal, and

The Bureau of Labor Statistics seems to uphold the idea that women still aren’t getting paid enough.

In its annual report, “Highlights of Women’s Earnings in 2012,” the Bureau of Labor Statistics states that “In 2012, women who were full-time wage and salary workers had median usual weekly earnings of $691. On average in 2012, women made about 81% of the median earnings of male full-time wage and salary workers ($854).”

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Don Boudreaux  and Mark J. Perry at Cafe Hayek are here to tell you: life in the 1950s for America’s middle class is not the wonderland we might like to think.

A favorite “progressive” trope is that America’s middle class has stagnated economically since the 1970s. One version of this claim, made by Robert Reich, President Clinton’s labor secretary, is typical: “After three decades of flat wages during which almost all the gains of growth have gone to the very top,” he wrote in 2010, “the middle class no longer has the buying power to keep the economy going.”

This trope is spectacularly wrong.

They point out that 60 years ago, the average middle-class home spent over 50% of its disposable income on food, utilities, rent/mortgage, etc. Today, that figure is closer to 30%. To prove the point that we don’t have a stagnant middle class stuck in some sort of economic time warp, Boudreaux has started a fun series, using commercials from the ’50s, ’60s, and ’70s to remind us where we were and where our memories may be leading us astray. Like many of us, Boudreaux learned to type on an electric typewriter. It was state-of-art, the best of the best. Do you want to swap your iPad for it?

You can check out the second of this series here.

collaborative consumptionNew rental markets are popping up all over the place, as detailed by a recent Wall Street Journal article. The trend is beginning to drive a larger movement labeled by some as “collaborative consumption,” wherein “sharing” is pushed as a way of “reinventing old market behaviors.”

Over at Carpe Diem, Mark J. Perry provides a helpful round-up on the phenomenon, pointing to the already mentioned WSJ article, a new Collaborative Consumption Hub web site, and a host of relevant products and services:

[W]e’re increasingly becoming more of a “rental economy,” where people can now rent just about anything they need from somebody else: their bathroom, their couch for an overnight stay, designer neckties (and bow ties and cufflinks), their driveway, their private automobiles, their toys, their clothing/costumes/maternity clothing/accessories/jewelry, party/event equipment, fine art, household items and tools (vacuum cleaners, iPads, tents, printers) etc. and the list goes on and on…

Perry also references a review on a leading book on the subject, What’s Mine Is Yours: The Rise of Collaborative Consumption. In the review, Reason Magazine’s Greg Beato helps illuminate some on the broader social and economic implications of such a shift:

Just a few years ago, President George W. Bush was still touting “the ownership society” as the surest path to prosperity and personal autonomy. But that was before we could easily search our cellphones for the nearest power drills, sedans, and spacious Manhattan closets for rent. What we really want, sharing evangelists suggest, is access, not ownership. And when we can use the mobile Web to pinpoint sharable goods, the burdens of ownership—which include maintenance, storage, and eventual disposal—begin to outweigh the benefits in many cases…. (more…)