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Posted

He knows how the bureaucrats work from being an economist and having a stint with the feds. He's attracted a lot of attention from the left (during Clinton) and now, for his criticism of the budget. The right wing media has come unglued on this guy - he consistenly rips the current admin with a thorough analysis. The Wall St Journal editorials have even praised him - it's idealogues that don't like him.

 

Work calls - stay dry this weekend, might be time to get that 6 mo gym membership. bigdrink.gif

Posted

From being an economist? Give me a freaken break.

 

His ripping of the current administration is less than thorough(Hey Jim what other economist had that nick name) but that you think it is thorough doesn't surprise me given your many demonstrable erors in reasoning in the threads this past week. But again I ask what right wing trash newsletter?

 

PP bigdrink.gif

  • 2 weeks later...
Posted

Why Do Americans Work So Much More Than Europeans?

 

 

Edward C. Prescott

 

Federal Reserve Bank of Minneapolis Research Department Staff Report 321 (September 2003)

 

Abstract: Americans now work 50 percent more than do the Germans, French, and Italians. This was not the case in the early 1970s when the Western Europeans worked more than the Americans. In this paper, I examine the role of taxes in accounting for the differences in labor supply across time and across countries, in particular, the effective marginal tax rate on labor income. The population of countries considered is that of the G-7 countries, which are major advanced industrial countries. The surprising finding is that this marginal tax rate accounts for the predominance of the differences at points in time and the large change in relative labor supply over time with the exception of the Italian labor supply in the early 1970s.

 

 

 

See also Prescott's Richard T. Ely Lecture

 

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