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Noah Smith 🐇
@Noahpinion
, 4 tweets, 1 min read Read on Twitter
Despite having fallen in recent years, the labor share of national income is around 57%.
It's crazy to think that most Americans are out there learning economics from bad tweets.
Oh also, the labor share of national income is higher in America than in Norway, Denmark, Sweden, Cuba, or Vietnam.

The International Labour Organization has the data here:
ilo.org/ilostat/faces/…
Recent trends in the U.S. have been bad for workers, no doubt about it. But the overall picture is not nearly as bleak as these goofy tweets suggest. And international comparisons suggest that blaming "capitalism" for these trends is off base.

Don't believe the hype.

(end)
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More from @Noahpinion see all

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Noah Smith 🐇
@Noahpinion
1/Today's @bopinion post is about the UAW strike at GM.

I'm happy to see unions striking more. Hopefully this is the start of a union renaissance.

But the UAW strike itself may backfire for workers.

bloomberg.com/opinion/articl…
2/Strong unions helped build the American middle class of the mid 20th century.

bloomberg.com/opinion/articl…
3/In fact, our whole idea of manufacturing jobs as "good jobs" probably comes from the fact that they were heavily unionized.

fivethirtyeight.com/features/ameri…
Read 16 tweets
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Noah Smith 🐇
@Noahpinion
"Red state vs. blue state" is barely a real thing at all anymore. It's all urban vs rural.
Don't believe me? Just look at any election map.
Here's a thread of some past election maps, showing that the urban/rural partisan split has grown much more pronounced in recent election cycles:

Read 4 tweets
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Noah Smith 🐇
@Noahpinion
A lot of Electoral College defenders have been telling me that the EC gives disproportionate power to small states.

No it doesn't. That's the Senate.

The Electoral College gives disproportionate power to Florida, Ohio, Pennsylvania and Michigan, which are all big states.
More accurately, it's the winner-take-all system of big swing states, not the Electoral College itself, that's the real problem.
Some people are pointing out that the EC does give a slightly disproportionate number of EVs to small states, and yes, sure, that's true. But if EVs were awarded proportionately in all the states, or if they used national popular vote, we wouldn't see crazy outcomes like 2016.
Read 4 tweets

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Lyman Expand the House Stone, AKA 石來民
@lymanstoneky
It's #NBERday!!!!!! Woooooo!!!!
First up:

Q: Why is the rate of business startups declining?

A: It's the demographics, stupid.
#NBERday
nber.org/papers/w25874
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Tom Kibasi
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THREAD

As we approach the crunch Brexit votes, let's look at the economic picture that helps explain how we got to here. This is drawn from the final report of the @IPPR Commission on Economic Justice.

The data is shocking.

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ippr.org/cej
The 2007-8 financial crisis led to the deepest recession since WW2, with output falling by 4.2% in 2009 alone

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Lyman Expand the House of Representatives Stone
@lymanstoneky
Iiiiiiiit's #NBERday ! I'll be reviewing papers from the last 3 weeks because in case you didn't know I was enjoying a lovely vacation in India, suckers. My sweat is going to smell like turmeric and cardamom for WEEKS.
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There's a debate, especially among conservative wonks, recently re-ignited by @oren_cass , about whether conventional market economics on trade only treats people like "consumers" while ignoring their role as "producers." #NBERday
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Brian Rahmer
@brianrahmer
“Job growth is not sufficient by itself to create upward mobility... It’s almost as though racial disparities have been amplified by job growth.”

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Hurricane Watcher
@GodlessNZ
(1) My Top Ten Aretha Franklin hits.

No politics tonight. Only soul.🕶️🌟

(2) At the age of 10 I was introduced to the Queen of Soul through this scene in the classic 1980 movie The Blues Brothers.

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#Think

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Andrew Erickson 艾立信
@AndrewSErickson
hearing—"#China's Worldwide #Military Expansion" is a dramatic bellwether of growing concerns in Washington & beyond.

Now online—hard-hitting arguments + many data points, some deeply-analyzed yet hard to find elsewhere in public domain:
bit.ly/HouseIC
CAPT Jim Fanell, USN Ret, former @USPacificFleet N2:

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bit.ly/HouseIC
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