Tuesday , January 22 2019
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Wednesday afternoon links – Publications – AEI

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AEI Wednesday afternoon links 1. Chart of the Day I (above) shows the annual strong/violent (categories F3, F4 and F5) tornado count in the US back to 1954 when the NOAA started tracking these data. Last year there were only 12 tornadoes in the US, all category F3 (strong), which is the lowest annual tornado count for the US in more than 60 years of modern records. Further, it was the first year ever in the US that there wasn’t a single violent tornado in the violent F4 or F5 categories. See news reports here from the Washington Post and USA Today, which reported that: Tornadoes only killed 10 Americans in 2018, the fewest since unofficial records began in 1875 during the administration of President Ulysses S. Grant. The previous record low year for tornado deaths was 1910, when 12

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Wednesday afternoon links

Wednesday afternoon links - Publications – AEI

1. Chart of the Day I (above) shows the annual strong/violent (categories F3, F4 and F5) tornado count in the US back to 1954 when the NOAA started tracking these data. Last year there were only 12 tornadoes in the US, all category F3 (strong), which is the lowest annual tornado count for the US in more than 60 years of modern records. Further, it was the first year ever in the US that there wasn’t a single violent tornado in the violent F4 or F5 categories. See news reports here from the Washington Post and USA Today, which reported that:

Tornadoes only killed 10 Americans in 2018, the fewest since unofficial records began in 1875 during the administration of President Ulysses S. Grant. The previous record low year for tornado deaths was 1910, when 12 people died, according to data from NOAA’s National Severe Storms Laboratory. In an “average” year, 69 people are killed by tornadoes in the U.S., the Weather Channel said.

2. Quotation of the Day I, from Thomas Sowell:

If you want to see the poor remain poor, generation after generation, just keep the standards low in their schools and make excuses for their academic shortcomings and personal misbehavior. But please don’t congratulate yourself on your compassion.

3. Quotation of the Day II, from Thomas Sowell:

The average black family has been in America longer than the average white family. Why then should blacks be hyphenated as African-American when they are more centuries removed from Africa than most Europeans are from Europe? Does anyone speak of European-Americans? How long should a hyphen persist?

4. Quotation of the Day III, from Thomas Sowell:

Because of the neglect of history in our educational system, most people have no idea how many of the great American fortunes were created by people who were born and raised in worse poverty than the average-welfare recipient today.

5. Earnings Gaps by Gender and Race. According to BLS data, there was a 19.6% racial earnings gap comparing the median weekly earnings of white men working full-time in 2017 ($971) compared to the median earnings for Asian men ($1,207). Similarly, there was an 18.2% gender earnings gap comparing the median weekly earnings of women working full-time ($770) to the median weekly earnings of men ($941). If all or most of the unadjusted 18.2% “gender earnings gap” is attributed to gender discrimination in the labor market against women, then is the even larger 19.6% “racial earnings gap” in favor of Asian men the result of racial discrimination in the labor market against white men?

Wednesday afternoon links - Publications – AEI

6. Chart of the Day II (above) shows the racial differences in average scores for the SAT Math test from 1996 to 2016.  The Asian-White mean test score gap has roughly doubled from 35 points in 1996 (558 vs. 523) to 69 points in 2016 (602 vs. 533), while the Asian-Black test score gap has increased over that period from 136 points in 1996 (558 vs. 422) to 177 points in 2016 (602 vs. 425). Maybe those gaps in average test scores on the SAT Math test explain both why Asian men earn more than white men on average, and why selective universities like Harvard need to use racial preferences/double-standards for admission (see video below)?

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Wednesday afternoon links - Publications – AEI

7. Chart/Table of the Day III (above) shows median US household income in 2017 for various ethnic groups and are some data to ponder now that saying that “America is the land of opportunity” is considered to be a microaggression.

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8. Sweden Isn’t Socialist, according to John Stossel and Johan Norberg:

For years, I’ve heard American leftists say Sweden is proof that socialism works, that it doesn’t have to turn out as badly as the Soviet Union or Cuba or Venezuela did. But that’s not what Swedish historian Johan Norberg says in a new documentary and Stossel TV video (below).

Sweden supports its welfare state with private pensions, school choice, and fewer regulations, and in international economic-freedom comparisons, Sweden often earns a higher ranking than the U.S. Next time you hear democratic socialists talk about how socialist Sweden is, remind them that the big welfare state is funded by Swedes’ free market practices, not their socialist ones.

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Wednesday afternoon links - Publications – AEI

9. Cartoon of the Day (above) illustrates how the minimum wage destroys employment opportunities for the most vulnerable workers (low-skilled, uneducated, teenagers, etc.) because those laws artificially raise the wages of low-skilled workers without increasing their productivity, and therefore significantly reduce their employability, especially relative to higher-skilled workers. Instead of being employed at a wage of $12,60 or $13.60 an hour, those most disadvantaged and vulnerable workers will now be unemployed at the real minimum wage of $0.00 an hour.

10. Video of the Day II (below) is from John Stossel for Reason.TV titled “End Racial Preferences as College?” The Asian Americans suing Harvard say the data show clear, systematic discrimination in admissions based on race.

Wednesday afternoon links
Mark Perry

Mark Perry
Mark J. Perry is concurrently a scholar at AEI and a professor of economics and finance at the University of Michigan’s Flint campus. He is best known as the creator and editor of the popular economics blog Carpe Diem. At AEI, Perry writes about economic and financial issues for American.com and the AEIdeas blog.

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