Life expectancy in the US

Life expectancy used to be high in the US. The graph shows that it was higher than the OECD average. This has dramatically changed since the late 90’s. Life expectancy is now lower than the OECD average. It was +1 year vis a vis the OECD average, it is now -2 years: a dramatic change.

More than that, life expectancy is decreasing in absolute value in 2016. It was already the case in 2015. This has to do with the opioid crisis but not only.

Do you think it is the best moment to limit access to Obamacare for the poorest? Certainly not – Something wrong in the US

Read this article from the Wapo http://bit.ly/Wapo-esp-vie-US

Inequalities according to Angus Deaton

The political upheavals and populist incursions of the past few years owe much to widespread perceptions of inequality and economic injustice in advanced economies. While median wages have stagnated, incomes at the top have continued to rise, and there is growing evidence to suggest that the two phenomena are connected.

PRINCETON – Inequality has been named as a culprit in the populist incursions of 2016 and 2017. But what is inequality, and what role does it play in inhibiting or encouraging growth, or in undermining democracy? Does inequality kill, say, by driving people to suicide or to “deaths of despair”? Or is inequality a necessary evil that we must tolerate at certain levels?

These are questions I am often asked. But, truth be told, none of them is particularly helpful, answerable, or even well posed. Inequality is not so much a cause of economic, political, and social processes as a consequence. Some of these processes are good, some are bad, and some are very bad indeed. Only by sorting the good from the bad (and the very bad) can we understand inequality and what to do about it.
Moreover, inequality is not the same thing as unfairness

Read the post here on Project Syndicate

Income inequality, labor market inequality

The report published recently by the Paris School of Economics measures income and wealth inequality around the world and reveals the high share of total income accounted for by the top earners, reflecting a very worrying situation. The report notes that the top 1% of earners worldwide captured 27% of total income growth since 1980 (net of inflation), while the bottom 50% captured only 12% of income growth over the same period. The world’s reference points have definitely changed over this period. Individual country income-inequality trajectories are sometimes even more stark, but inequality in Europe has remained relatively stable since 1980.

Income distribution inequality raises a number of questions, particularly the challenge of achieving strong and sustainable growth. If growth only benefits a very small minority, then our aims cannot merely be restricted to growth at any price. The trickle-down theory whereby the poor derive benefits when the rich get richer is clearly not working, so it is vital to come up with different targets and mechanisms alongside growth to ensure a more balanced society. Continue reading

Brexit…the UK view

At a conference in London, I listened to a Welsh member of the European Parliament’s statements on Brexit this afternoon.

A number of points are worth noting on this MEP’s remarks:

The first point is the intention that has already been stated elsewhere of standing against the whole world to make Brexit a success, and this triumph requires the support of the entire British population.

[Comment: no objections from the floor] Continue reading

The UK will have to agree to single market rules

Agreement on the Brexit “divorce bill” is very good news, involving the UK settling its outstanding commitments to the rest of Europe. Trade negotiations will now be able to start and they will not be straightforward, as Michel Barnier recently explained with the backing of the remaining EU 27. There will be no exceptions to the rule, the UK cannot have a tailor-made agreement, all sectors will be treated equally with no special allowances. Continue reading