Tuesday, April 14, 2020

Comments on a Great Econtalk Episode (Poverty and Income)

Below are some comments about a great econtalk episode here about the change in skills demanded and the prospects for people without the skills now demanded.

What I find interesting in the regard is:
1. Kiryas Joel where the people are low income but not “poor”. They have the respect that you were talking about.
2. Mr Money Mustache shows what I see which is many middle and upper income people living on low income voluntarily.  Also look up tiny houses on youtube and you'll see these same class of people living in $10k homes.
3. My son when he graduated high school he took a job with a plumber doing the manual labor, he then due only to on the job learning became a plumber. He is doing great. His boss cannot get enough people, I presume because it's a dirty job. Same with auto mechanics (a little more intellectual job though).
4. It looks to me like we are so rich today in the Developed world that to many women singleness, which is clearly more expensive looks better than marrying the men available to them and BTW the college premium and the marriage premium are roughly equal.

Bottom line is, poverty may not be low income at all. Maybe schools should try to teach students more the stuff that will help them live better lives and less of what will help them succeed at the next level of education.

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