Trump’s Graying Army: Why Older Voters Back The Donald – The Atlantic Against all the modern disasters, Trump’s campaign represents a rebellion of the aged—a bygone generation’s last furious gasp against modernity. “America was great in the ’60s and ’70s,” Frank Everett, a 76-year-old retired grocery manager, told me. “Now people’s gotten where they haven’t got pride.” Donna O’Brien, 69, told me, “I remember when everybody loved America. What went wrong? They took God out. It’s scary. It makes me want to cry.” It isn’t just that Trump appeals to old people—it’s that he appeals to this particular cohort of old people, whose vision of America was shaped at a particular time. They speak of a last chance to save America, a country that will cease to exist if Trump doesn’t win.
Low-skilled labor markets are not about bargaining power – Marginal REVOLUTION More generally, he finds that “…the employment and wage rates of low experience, low education individuals deteriorated more dramatically during the Great Recession than is widely recognized.” There are many points of interest in this paper, one of my favorite of this year. Here is the home page of Jeffrey Clemens.
5 Crazier United Mile Stopover Tickets Here’s a new version of the route with open-jaws: Start in Casablanca, Morocco (CMN) Fly to Cape Town (CPT) – for 17.5k UA miles 10k AA miles to get to Mauritius (MRU) MRU – Addis Ababa, Ethiopia (ADD) – free segment with UA Open-jaw, so the ticket continues from Nairobi, Kenya (NBO) Return to Tunis, Tunisia (TUN) – for 17.5k UA miles
In Sweden, inheritances reduce inequality – Marginal REVOLUTION This study estimates the effect of inheriting wealth on inequality and mobility in the wealth distribution. Using new population-wide register data on inheritances in Sweden, we find that inheritances reduce inequality and increase mobility among heirs. Richer heirs indeed inherit larger amounts, but less affluent heirs receive substantially larger inheritances relative to their pre-inheritance wealth than do richer heirs. The Swedish inheritance tax had a small overall impact but appears to have mitigated the equalizing effect of inheritances. We also investigate the potentially confounding role of pre-inheritance gifts and behavioral responses to expectations about future inheritances, but neither of them change the main finding that inheritances reduce wealth inequality.
CONVERSABLE ECONOMIST: Is the Mediterranean the New Rio Grande? Hanson and McIntosh argue that the differences in birthrates and economic prospects, along with existing historical and political ties, point toward the possibility of an ongoing and very large surge in migration from the Middle East and Africa to Europe in the decades ahead. Indeed, my guess is that their estimates could turn out to understate the pressures for migration to Europe. Access to information about how and when to migrate, and the ability to send money to others back in the source country, have dramatically increased. And while population growth rates have slowed in much of the world, the exceptions are mostly in Africa and the Middle East.