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2 posts found
Jul 06, 2014
ssc
17 min 2,360 words 104 comments
Scott Alexander shares and comments on highlighted passages from 'The Two-Income Trap', covering various economic and political issues related to bankruptcy and financial distress. Longer summary
This post lists and comments on various passages highlighted by Scott Alexander in his copy of 'The Two-Income Trap' by Elizabeth Warren. The excerpts cover topics such as bankruptcy trends, job insecurity, gender differences in financial distress, public school perception, housing affordability, and political maneuvering around bankruptcy legislation. Scott provides his own commentary on these passages, often highlighting unexpected trends, questioning statistical presentations, or noting interesting political dynamics. Shorter summary
Apr 04, 2013
ssc
10 min 1,311 words 15 comments
Scott Alexander debunks a viral image about minimum wage and apartment affordability, showing how its methodology is flawed and recalculating more realistic figures. Longer summary
Scott Alexander critiques a viral image claiming to show the number of hours needed to work at minimum wage to afford a two-bedroom apartment in different states. He points out several flaws in the image's methodology and interpretation, including that it's not actually about minimum wage, that raising minimum wage wouldn't solve the problem, and that the numbers are misleading. Scott then recalculates the figures using more realistic assumptions, showing that the actual hours needed are much lower than the image suggests. He concludes that while minimum wage earners do face challenges, this particular image is not an accurate representation of those challenges. Shorter summary