Changing state employee benefits

Disclaimer:  I am a state employee who works in Higher Education. Will, I understand that state employees get a lot of  bad press.  I understand that a lot of people are angry when they hear about all of the people who get jobs through connections, and get raises beyond what private employees get, etc.  But, …

Income Trends

There are many ideas out there about how earnings, real and expected, affect spending.  Milton Friedman’s 1957 Permanent Income Hypothesis is probably the most famous.  In its strictest form, it implies that changes in current income, such as a raise or inheritance, shouldn’t change consumption at all. That’s an awfully strong statement.  In 1989, John …