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Showing posts with the label Economics

Poverty Line Greatly Underestimated?

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The official poverty line in the United States is $32,150 / year for a family of four , maybe that threshold should be higher:   $140,000 ! When the line was set in 1963, food made up 1/3 of the average family's budget, so taking a minimal grocery list and tripling it was a reasonable calculation because food prices were far easier to track than e.g. housing prices. But in 2024, food only makes up 5%-7% of the average family's budget! Tripling the food budget to reach a minimum income no longer corresponds with "people above this line are not in crisis."

Is the Job Market Working?

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During my job search, I've seen job postings go up, stay up for weeks or months, and then get re-posted.  So at risk of generalizing my experience, if candidates can't find jobs and companies can't find candidates, is the job market working for anyone?

"Wasteful" Competition

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The Economist has run a few articles recently about "involution" in the Chinese economy, which is a concern that companies in some key markets (e.g. electric vehicles) are competing too hard. I disagree!