# Tag Info

Accepted

### Why do celebrities get high wages?

If you ask yourself how much a potential employer would have to pay you to convince you to work for him, the answer is probably something like "at least as much as I could earn by doing the same job ...
• 16.6k

### Did real incomes drop significantly since the 1950s?

Most of the US real earnings data which go only as far as mid 60s. According to the statista data presented in this article by world economic forum the evolution of real hourly earnings in the US for ...
• 41.5k

### Did real incomes drop significantly since the 1950s?

Average standard of living is massively higher today compared to the 1950s, primarly due to technological progress. Even a cheap low end car today is much better than the big cars of the 1950s, it is ...
• 567
Accepted

### Why are real median household incomes stagnant?

The metric of median household income is also used by others to argue the presence of income inequality: https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States#Causes However, it seems ...
• 26k

### Why do celebrities get high wages?

I suggest to learn more about the Economics of Superstars. Within the economics field, the "superstar" term is "...used to refer to extreme wage outliers (Adler, 1985; Rosen, 1981). These outliers are ...
• 332

### Did real incomes drop significantly since the 1950s?

The book “The Two Income Trap” (2003) by Elizabeth Warren (recent Democratic presidential candidate) and Amelia Warren Tyagi discussed this. They looked at spending breakdowns in the 1970s and when ...
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Accepted

• 386

### Why do celebrities get high wages?

They are both irreplacable and cause the people to work for to earn lots of money. Celebrities, by definition, are personalities with mass appeal and are therefore known by a large number of people. ...
• 159

### Econometrics: Is elasticity meaningful in my, or any, regression?

I would say that your model in this case doesn't seem meaningful if your "goal was to see which variable most affected teacher salaries in any given county of my state". You have just shown what the ...
• 253

### Econometrics: Is elasticity meaningful in my, or any, regression?

The other answers covered the main issues, I would like to respond to the "Edit" made by the OP in the question: Edit: One of my bigger fears is that I should have used a non-linear model to show ...
• 31.8k