Bill Clinton’s labor secretary argues that the capitalist system needs rescuing. Yeah, but should we bother?
There is an interesting moment in Robert Reich’s new Netflix documentary, “ Saving Capitalism ,” when the former secretary of labor sits down for a dinner conversation with several businesspeople and lobbyists to discuss America’s economy and political system. After exchanging some pleasantries, the conversation quickly gets heated, and immediately the guests are defensive and mildly hostile toward the Berkeley professor, whom they accuse of scapegoating and demonizing them.
“You’ve vilified everything I’ve worked for all my life,” entrepreneur Annie Presley says to the […]
View Original: Can capitalism be saved? Robert Reich’s new movie isn’t quite sure
(Source: www.vox.com )
America’s rich have gotten richer for decades, while the middle class and poor have seen meager gains. Since the mid-20th century, the top 1 percent have more than doubled their share of the nation’s income, from less than 10 percent to more than 20 percent.
Donald Trump said he was going fix it — that he would represent the forgotten men and women, the people who had been left behind in this widening of income inequality.But the tax overhaul his Republican Party passed through the Senate early Saturday morning would make America’s income inequality worse. Maybe a lot […]
View Original: The Republican tax bill will explode income inequality in America
Christian Peterson In the largest study of its kind, researchers from 14 institutions, including the University of Hawaiʻi at Mānoa , saw disparities in wealth mount with the rise of agriculture, specifically the domestication of plants and large animals, and increased social organization.
The findings by the international team are published in Nature . The United States, researchers noted, currently has one of the highest levels of inequality in the history of the world.
The study gathered data from 63 archaeological sites or groups of sites. Comparing house sizes within each site, researchers assigned Gini coefficients, a common measure of inequality […]
View Original: Researchers chart economic inequality across the ages
Douglas Holtz-Eakin, former director of the Congressional Budget Office and the president of the conservative American Action Forum, and Kimberly A. Clausing, an economist and tax expert who teaches at Reed College. There is no disagreement that changes to the tax code should promote economic growth, fuel job creation and increase incomes. The question is whether the Republican tax bills would accomplish those goals.
Several prominent conservative economists have argued that the proposals would do just that.
Many others across the ideological spectrum have challenged those conclusions, saying the plan would cause the nation’s debt to rise substantially faster than the […]
View Original: Who Gains From the Tax Plan? Economists Face Off
The generation that came of age during the Great Recession isn’t counting on others to build their nest eggs — at least wealthier millennials.
Millennials with financial resources say they will count more on their own own savings accounts in 20 years than on a 401(k), pension or other retirement plan, according to a survey from Bank of America’s Merrill Edge.
Previous generations are more likely to depend on outside sources to fund retirement. Gen-Xers are more likely to rely on their 401 (k) savings accounts, while Baby Boomers look to their pensions as their most reliable resource, the study found.The […]
View Original: How wealthier millennials think about saving money
Shutterstock Higher education doesn’t come cheap in the United States — citizens collectively hold about $1.31 trillion in college loan debt.
Things are hardly this dire in certain other countries, where everything from preschool to university is paid for — at least in part — by the government.
Some governments even cover the entire cost of a college education, leaving graduates with zero debt and a clean slate to start their new careers.Business Insider spoke with four people from different European countries to find out what it’s really like to get a free education. France Wikimedia Commons What do you pay […]
View Original: 5 people from around the world share what it’s like to get free college education
A new report predicts that by 2030, as many as 800 million jobs could be lost worldwide to automation. The study , compiled by the McKinsey Global Institute, says that advances in AI and robotics will have a drastic effect on everyday working lives, comparable to the shift away from agricultural societies during the Industrial Revolution. In the US alone, between 39 and 73 million jobs stand to be automated — making up around a third of the total workforce.
But, the report also states that as in the past, technology will not be a purely destructive force. New jobs […]
View Original: Automation threatens 800 million jobs, but technology could still save us, says report
Technical workshop Objectives
1. Understand the diverse patterns, drivers and impacts of migration and labor mobility to address challenges for achieving sustainable livelihoods transformation, food security and nutrition and poverty reduction.
2. Promote multisector policy approaches to the development of rural areas and rural-urban linkages to facilitate rural transformation and agricultural and food systems’ transitions for economies and societies at large. The workshop will bring together researchers and policy makers from around the world in an effort to provide evidence, promote understanding, enhance dialogue on migration, labor and people’s mobility for poverty reduction and sustainable development.Relevant areas […]
View Original: The drivers and impacts of migration and labour mobility in origins and destinations: Building the evidence base for policies that promote safe, orderly and regular people’s and labour mobility for poverty reduction and sustainable development
Econ 101, the introductory college economics course that is often held in overcrowded lecture halls packed with half-asleep freshmen, is finally getting a facelift.
At the front of the class is Raj Chetty, a 38-year-old economist who publishes some of the field’s most intriguing papers year after year. He’s used data to debunk the American Dream , challenge the Ivies as engines of social mobility, and become an authority on inequality. He’s shuttled from top university to top university, scored a MacArthur “genius” grant, and landed on Forbes’ 40 under 40 list.
Now, at Stanford, he’s rethinking how to teach economics […]
View Original: An innovative introductory economics course at Stanford is now free online
Social and economic inequality has become one of the defining characteristics of our time. In fact, the gap between rich and poor (around the world and in the UK) defines the modern economy. It can potentially explain some of the reasoning behind the Brexit vote, the success of populists like Donald Trump and why more and more people are looking to politicians like Jeremy Corbyn for radical solutions.
Now a report from the UK’s Social Mobility Commission has highlighted the ‘spiral of ever growing’ regional inequality across the country. The study looked into factors such as education and housing to […]
View Original: These are the worst places to grow up poor in Britain