Data from the National Longitudinal Survey of Older Men were used to estimate economic inequality within three 5-year cohorts as they moved from midlife to later life. The Gini index of inequality increased steadily after age 59, supporting the hypothesis that within-cohort inequality increases in late life. However, a transition analysis found considerable mobility in relative status for indiv...

The economic overhaul of health care in America is restructuring the business of medicine, and with it the relationship between physician and patient. Previously accustomed to thinking primarily about the best interests of each patient, the physician now finds this traditional loyalty in conflict with competing concerns, including those of government, business, and insurers who watch with alarm...

Subjective Well-Being, Income, Economic Development and Growth We explore the relationships between subjective well-being and income, as seen across individuals within a given country, between countries in a given year, and as a country grows through time. We show that richer individuals in a given country are more satisfied with their lives than are poorer individuals, and establish that this ...

We examine the contribution to economic growth of entrepreneurial "marketplace information" within a regional endogenous growth framework. Entrepreneurs are posited to provide an input to economic growth through the information revealed by their successes and failures. We empirically identify this information source with the regional variation in establishment births and deaths, which create ge...

That mortality in developed countries is affected more by relative than absolute living standards is shown by three pieces of evidence. Firstly, mortality is related more closely to relative income within countries than to differences in absolute income between them. Secondly, national mortality rates tend to be lowest in countries that have smaller income differences and thus have lower levels...

Methods from machine learning and data science are becoming increasingly important in the social sciences, providing powerful new ways of identifying statistical relationships in large data sets. However, these relationships do not necessarily offer an understanding of the processes underlying the data. To address this problem, we have developed a method for fitting nonlinear dynamical systems ...

The Malthusian model of population and economic growth has two key components. First, there is a positive effect of the standard of living on the growth rate of population, resulting either from a purely biological effect of consumption on birth and death rates, or a behavioral response on the part of potential parents to their economic circumstances. Second, because of the existence of some fi...