Skew

Originally posted on The Baseline Scenario:
By James Kwak There is a common phenomenon in legal disputes over the value of something, be it a company, a piece of land, or a person’s expected lifetime earnings. Each side hires an “expert” who produces an estimate based on some kind of model. And miraculously, every single…

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The $1 Million Career Mistake You May Be Making

Imagine you found a lamp with a magic genie inside who offered to grant you an extra million dollars in lifetime earnings. To get it, you simply have to do one thing: ask. Sound ludicrous? It turns out you don’t even need the genie. In his book “Business Brilliant,” Lewis Schiff writes that three out…

Good Times for Capital

Originally posted on The Baseline Scenario:
By James Kwak Last week, the Wall Street Journal highlighted a Federal Reserve report on total household net worth. Surprise! Americans are richer than ever before, both in nominal and real terms. At the same time, though, wealth inequality is increasing from its already Gilded Era levels. The main…