Category Archives: Mobility

New York Fed president: Legacy admissions to colleges is hurting economic mobility

William Dudley, the president of the Federal Reserve Bank of New York, criticized legacy admissions in a speech Friday.

Poor students make up a relatively small share of students at elite schools

William Dudley, the president of the Federal Reserve Bank of New York, criticized legacy admissions in a speech Friday. Higher education is supposed to be a stepping stone to a better life — a fast track to achieving the American Dream. But the admissions policies of elite colleges are standing in the way of poor students’ ability to achieve that kind of economic mobility, according to one influential economist.

In a speech at a New York City event focused on financial literacy and economic education, William […]

Inequality is getting so bad even Wall Street is starting to pay attention

Gordon Gekko

20th Century Fox It’s a sign of just how extreme US and global wealth inequality has become that even the folks on the winning side of the class war are starting to worry about it.

Citi Research has released a new in-depth report on inequality, its causes and potential solutions alongside Oxford University’s Martin School.

The report’s emphasis on "why inequality matters" is especially striking, because it reflects a widespread shift in American discourse about the issue following the Great Recession and financial crisis of 2007-2009.Before then, the issue of inequality was largely ignored by much of the economics profession, […]

New York Fed president: Legacy admissions to colleges is hurting economic mobility

MW-FV817_dudley_20171006135502_ZH.jpg

Higher education is supposed to be a stepping stone to a better life — a fast track to achieving the American Dream. But the admissions policies of elite colleges are standing in the way of poor students’ ability to achieve that kind of economic mobility, according to one influential economist.

In a speech at a New York City event focused on financial literacy and economic education, William Dudley, the president of the Federal Reserve Bank of New York, decried elite colleges’ tendency to give admissions preferences to children of alumni as “essentially a ‘donate to admit’ policy.” Often providing […]

One in five American children live with hunger

The United States has one of the worst rates of child hunger among high-income countries. A recent UNICEF analysis puts it in perspective: About 20% of American children live in food-insecure households, meaning they lack access to safe and nutritious foods.

The big picture: Child hunger is a worldwide problem, with some of the world’s poorest countries in Africa reporting rates upwards of 70%. But among wealthy nations as defined by the World Bank, the United States has the fourth worst child hunger problem, followed only by Lithuania, Saudi Arabia and Uruguay. Food insecurity among high-income countries

Access to […]

New York Fed president: Legacy admissions to colleges is hurting economic mobility


William Dudley, the president of the Federal Reserve Bank of New York, criticized legacy admissions in a speech Friday. Higher education is supposed to be a stepping stone to a better life — a fast track to achieving the American Dream. But the admissions policies of elite colleges are standing in the way of poor students’ ability to achieve that kind of economic mobility, according to one influential economist.

In a speech at a New York City event focused on financial literacy and economic education, William Dudley, the president of the Federal Reserve Bank of New York, decried elite […]

Opinions on Inside Higher Ed


iStock/DrAfter123

As I begin my first full semester as president of Pace University after serving for 10 years as president of Oberlin College, I find myself looking to the past and the things I’ve learned. I can’t help but reflect on the extraordinary changes I’ve witnessed in American higher education along the way.

This past decade has been one of transformation for our nation and our colleges and universities. Barack Obama was twice elected president of the United States. We experienced the Great Recession — the worst economic downturn since the Depression. Income inequality has grown from a significant problem to […]

Pushy or laid back? Economic factors influence parenting style

New Haven, Conn. — Settling on a parenting style is challenging. Is it better to be strict or more lenient? Have helicopter parents found the right approach to guiding their children’s choices?

A new study co-authored by Yale economist Fabrizio Zilibotti argues that parenting styles are shaped by economic factors that incentivize one strategy over others.

Zilibotti and co-author Matthias Doepke, a professor of economics at Northwestern University, assert in a paper published in the journal Econometrica that economic conditions, especially inequality and return to education, have influenced child-rearing strategy."All parents want their children to succeed, and we argue that the […]

The TED Inequality All-Stars

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Economic inequality is so important to a thorough look at happiness on and off the job that, before we leave the topic, I decided to provide an all-star lineup of TED talks on the subject, from a variety of perspectives. We’ve heard from the first two before, but not the last three.

This is Chrystia Freeland, journalist turned politician. We’ve heard a lot from her book Plutocrats already. Her political biases are evident in this talk.Thomas Piketty, economist and professor at the Paris School of Economics, literally wrote the book on the subject — a 600-page runaway bestseller Capital […]

Students from poor families are struggling way more to pay back their student loans


Students from poorer families are struggling more to pay back their student loans, according to a new report. In theory, student loans are supposed to increase economic mobility by providing low-income students with money they wouldn’t otherwise have to attend college. But a new report suggests the loans may be helping to widen the gaps between the haves and have-nots.

Some highlights from the report: Students from poor families who entered school in the 2003-2004 academic year still had 91% of their debt remaining on average 12 years later

Students from wealthier families who entered school in the 2003-2004 […]

Pushy or laid back? Economic factors influence parenting style


New Haven, Conn. — Settling on a parenting style is challenging. Is it better to be strict or more lenient? Have helicopter parents found the right approach to guiding their children’s choices?

A new study co-authored by Yale economist Fabrizio Zilibotti argues that parenting styles are shaped by economic factors that incentivize one strategy over others.

Zilibotti and co-author Matthias Doepke, a professor of economics at Northwestern University, assert in a paper published in the journal Econometrica that economic conditions, especially inequality and return to education, have influenced child-rearing strategy."All parents want their children to succeed, and we argue that the […]