Yanis Varoufakis: A New Deal for the 21st Century

ATHENS — The recent elections in France and Britain have confirmed the political establishment’s simultaneous vulnerability and vigor in the face of a nationalist insurgency. This contradiction is the motif of the moment — personified by the new French president, Emmanuel Macron, whose résumé made him a darling of the elites but who rode a wave of anti-establishment enthusiasm […]

Lifetime Incomes in the United States over Six Decades

Using panel data on individual labor income histories from 1957 to 2013, we document two empirical facts about the distribution of lifetime income in the United States. First, from the cohort that entered the labor market in 1967 to the cohort that entered in 1983, median lifetime income of men declined by 10%–19%. We find […]

The Economic System That Made the Grenfell Tragedy Possible

As raging flames consumed the Grenfell Tower housing complex, London’s genteel facade of civility melted away, exposing a hidden human tragedy at its urban core. The immediate cause of the blaze earlier this month was a lack of basic building safeguards, but the underlying tinder was decades of social disinvestment and callous neglect of the […]

Lifetime Incomes in the United States Over Six Decades

ABSTRACT Using panel data on individual labor income histories from 1957 to 2013, we document two empirical facts about the distribution of lifetime income in the United States. First, from the cohort that entered the labor market in 1967 to the cohort that entered in 1983, median lifetime income of men declined by 10%–19%. We […]