Acton Institute Powerblog Archives

Post Tagged 'Welfare economics'

A Policy Solution to Fix Inequality and Boost GDP

Andrew Biggs of AEI has a piece up today at Forbes addressing the gender pay gap and provides a neat solution: “forbid women from staying at home with their children.” As Biggs points out, such a policy would address perhaps the greatest root cause of gender pay inequality: varied work experience attributable to choices women make. Continue Reading...

Surplus = Happiness, Deficit = Misery

Wilkins Micawber, the namesake for the Micawber Principle.Joe Carter points to a Lifehacker article that sums up two basic equations that lead to the creation of wealth (with what I consider to be a clarifying correction applied in the first formula): Income spending = surplus Surplus x time = wealth Likewise, Wilhelm Röpke, in his A Humane Economy, points to two equations arising from classical literature that connect surplus with happiness and deficit to misery (the Micawber Principle). Continue Reading...