Omitted Variable Bias
Omitted variable bias happens when a variable is omitted from your regression model. Duh!
Econowmics Blog
Measuring inequality: The 20:20 ratio
“The first man who, having fenced in a piece of land, said “This is mine,” and found people naïve enough to believe him, that man was the true founder of civil society. From how many crimes, wars, and murders, from how many horrors and misfortunes might not any one have...
The Malthusian Trap
“I think I may fairly make two postulata. First, that food is necessary to the existence of man. Secondly, that the passion between the sexes is necessary and will remain nearly in its present state. These two laws ever since we have had any knowledge of mankind, appear to have...
Inequality
“At first countries’ incomes were all bunched together, but with the Industrial Revolution the differences exploded, and the countries have “flown” further apart from each other. . . . [it] pushed some countries forward onto the path to higher incomes while others stayed at the point where they had been for millennia. ....
