If the average person in the US feels as though they are going nowhere fast , there is a real reason for it.
Federal Reserve data shows people are earning less than they did 17 years ago. But the real story is even worse than that.
The chart below shows that median income in the US is actually down over the last 17 years and is only 3% higher now than it was 30 years ago. Those are inflation-adjusted numbers.But the reality is that, for the average person, inflation has been much higher than the average of 2% per year over […]
View Original: The gap between the top 5% and everyone else has dramatically grown over the last 50 years
Challenging the Qualitative-Quantitative Divide: Explorations in . – Google Books Result His current areas of research include education, labor market inequality, and . Mobility and Inequality: Frontiers of Research from Sociology and
Economics … Battlers & Billionaires: The Story of Inequality in Australia – Google Books Result In this volume, leading sociologists and economists present original findings and . Cover of Mobility and Inequality by Edited by Stephen L. Morgan,
David B. Mobility and Inequality: Frontiers of Research in Sociology and . – Google Books Result In Morgan, Steven L., Grusky, David B. & Fields, Gary S. (Eds.), Mobility and Inequality: […]
View Original: Mobility And Inequality: Frontiers Of Research From Sociology And Economics | wynujal.ru
(Bloomberg View) — With Brexit and the election of Donald Trump, there’s a widespread belief that populism is on the rise in the developed world. Writers and thinkers darkly warn of a crisis if elites don’t accede to the demands — explicit or assumed — of the working class .
As I wrote in a previous post , it’s very hard to define whom to consider part of the elite. That makes it difficult to establish a target for popular anger, and it means that no one knows who, exactly, is expected to respond to the masses’ demands. But there’s […]
View Original: Working Class Has the Blues, and Elites Lack Answers
With Brexit and the election of Donald Trump, there’s a widespread belief that populism is on the rise in the developed world. Writers and thinkers darkly warn of a crisis if elites don’t accede to the demands — explicit or assumed — of the working class .
As I wrote in a previous post , it’s very hard to define whom to consider part of the elite. That makes it difficult to establish a target for popular anger, and it means that no one knows who, exactly, is expected to respond to the masses’ demands. But there’s another, related problem […]
View Original: Working Class Has the Blues, and Elites Lack Answers
Americans see the value in getting a college degree, but they’re not particularly happy with our nation’s higher education system.
Those are among the results from a new survey conducted by New America, a think tank based in Washington. The report, which New America plans to update annually, is based on a survey of 1,600 American adults. The group probed people’s perceptions of higher education and economic mobility, with the results broken out by age, gender, region and socioeconomic status.
Fully three-quarters of respondents said it’s easier to be successful with a degree than without one, in a finding that generally […]
View Original: DeVos Booed Throughout Speech at Bethune-Cookman
I was wading deep into a wonk-fest of a report about economic mobility. Suddenly, the authors were writing about my mother:
“We think one of the most direct ways to reduce poverty, and possibly to increase economic mobility, is to help single mothers work and to improve their skills so they can earn higher wages.”
If you asked my mother what she did for a living, this is not what she would say. But it is her legacy.My mother taught nursing at a community college for 30 years. That makes her a one-woman anti-poverty machine. My mother is 102 pounds of […]
View Original: 102 pounds of economic-mobility-generating muscle
Questions asked in the empirical literature on economic inequality:I Whatâ€™s the share of top incomes, and how has it changed? Atkinson et al. (2011)I How and why did womenâ€™s participation in wage labor change over time? Goldin (2006)I Is there racial discrimination in the labor market? Bertrand and Mullainathan (2004)I Has the decline of unionization led to rising inequality? Fortin and Lemieux (1997)2 / 31InequalityI Whatâ€™s the role of migration, technical change, education in explaining wage inequality? Card (2009), Autor et al. (2008)I How large is intergenerational economic mobility, and what are the factors that influence it? Chetty et […]
View Original: Empirical research on economic inequality: Normative considerations and empirical practice.
1. Income inequality can be explained by all of the following except :
A.Ownership of factors of production are not equally distributed and those with greater shares of entrepreneurship tend to experience greater incomes.
B.Changes in tax laws and rates between different periods of time create great disparity among workers.C.Workers have different skill sets which allow some a greater level of productivity.D.Technology has created less of a demand for unskilled labor and a greater return for owners of capital.2. Although poverty is an issue, in the U.S.A.most of the population in poverty are illegal immigrants so poverty does not matter much.B.a […]
View Original: Question: 1. Income inequality can be explained by all of th…
Ron Sachs/Pool via Getty Images The evidence just keeps growing: It wasn’t simply the economy that led to Donald Trump’s rise. Instead, another survey has confirmed that racism and xenophobia were much bigger factors.
The new survey , by the Public Religion Research Institute (PRRI) for the Atlantic , focused on white working-class voters (those without a college education or salaried jobs), who were part of the key demographic behind Trump’s rise. It looked at how much of their support for Trump correlated with, among other factors, “fears about cultural displacement” — a polite way of describing fears of […]
View Original: It wasn’t the economy, but racism and xenophobia, that explains Trump’s rise.
ehpien Georgetown is one of Washington DC’s most expensive neighborhoods. No one has done more to promote the return of educated professionals to cities than Richard Florida. In his 2002 classic The Rise of the Creative Class , Florida argued that “creative class” professionals like engineers, artists, architects, and college professors held the key to revitalizing America’s cities. He encouraged cities to cater to the tastes of these creative professionals by developing walkable urban neighborhoods well-served by transit and with ample amenities.
Florida’s predictions have come true even more quickly than he expected. “I would have never predicted that this […]
View Original: The author of Rise of the Creative Class is grappling with its dark side