Steel workers in Chicago strike in 1952. Cities have become simmering cauldrons of economic inequality, especially after the Great Recession . In his new book, Richard Florida writes that this condition is at the heart of what he calls the “New Urban Crisis,” and suggests fixes in the form of equitable housing, tax, infrastructure, and anti-poverty policies.
But there’s another solution, now largely overlooked, that has helped reduce gross inequality in the past: collective bargaining. In a new working paper , economists Brantly Callaway at Temple University and William J. Collins at Vanderbilt University examine the decades after the Great […]
View Original: To Reduce Urban Inequality, Reconsider Unions
Via WikiCommons . Over the past seven years, I received over $330,000 of need-based financial aid, and it gave me a one-way ticket to the new American elite.
I grew up attending public schools in Iowa and Ohio until increasing frustration with my schooling led my family and me to reply to a flier that we received alerting us to the existence of boarding schools. Up until then, I believed boarding schools only existed in England; I had never heard of “Exeter” or “Andover.” I applied to four schools and chose to attend the Middlesex School of Concord, Massachusetts, despite […]
View Original: The Aristocracy That Let Me In
Illinois is grappling with a full-fledged financial crisis and not even the lottery is safe – with Republican Gov. Bruce Rauner warning the state is entering "banana republic" territory.
Facing billions in unpaid bills and pension obligations, the state is hitting a cash crunch that is rare even by Illinois standards.
A top financial official just warned 100 percent of the state’s monthly revenue will be eaten up by court-ordered payments. Rauner is calling a special session of the Democrat-led General Assembly in a bid to pass what he hopes will be the first full budget package in almost three years.And […]
View Original: Illinois careens into financial meltdown – and not even the lottery is safe
I S H I G H I N E Q U A L I T Y A N I S S U E I N P O L A N D ?
Main messageGiven its economic development level, Poland is not a country of striking economic inequality. While income inequality in Poland is high compared to wealthier EU states, Poland ranks more favourably in that respect than other countries of similar affluence or those undergoing economic transformation. Income inequality has not shown a rising trend in recent years. Its high level is mostly due to considerable wage dispersion, in […]
View Original: IBS Policy Paper From research to policy
Sometimes I lull myself into thinking that I know at least a little bit about a bunch of things. Then something new, at least to me, comes along and totally destroys that notion. But now I think I’ve heard just about everything. During the commencement address at Harvard, the founder and CEO of Facebook, Mark Zuckerberg, said he supports an idea called universal basic income. Wait until you read what he has in mind!
Here’s what Patrick Gillespie of CNN’s online “Money” report has to say about it, “We should explore ideas like universal basic income to make sure that […]
View Original: UBI is not the answer
Here’s a question I get asked a lot: “Ok, so what’s the ideal amount of social mobility?” Scholars interested in relative income mobility often use a quintile transition matrix, showing how much ‘stickiness’ there is in the income distribution between two generations: (Note that this version draws on data from the Panel Survey of Income Dynamics, but we’ve produced matrices using data from the National Longitudinal Surveys , as well as one for educational mobility .)
Four out of ten children born at the bottom will remain there as adults—and about the same stickiness can be seen at the top. […]
View Original: How much social mobility do people really want?
INTERNATIONAL COMPARISONS OF
reedom from the constraints of aristocratic society lured many of our ancestors tocross the ocean to the New World. European visitors such as Alexis de Tocqueville marveled at the economic dynamism and social mobility of American society in the first half of the nineteenth century.1 More recently, immigrants continue to cross our boundaries in search of the promise of the American Dream. Given this history, many Americans believe that the opportunities for moving up the economic ladder are greater in the United States than they arein other countries. But is this widely held assumption of greater […]
View Original: BY JULIA B. ISAACS, The Brookings Institution
I just returned from an awesome family vacation in Peru. Although certainly not the highlight of the trip, six plane flights and two lengthy train rides made for a lot of reading. I finished Shattered , the inside look at the Clinton 2016 campaign, then read Locking Up Our Own , an analysis of how black leadership in Washington, DC, helped pave the way to mass incarceration of black Americans, and Toxic Inequality , by Thomas Shapiro, which, of all the books I’ve read on the subject of economic inequality, is one of the very best in terms of […]
View Original: Book Review: Toxic Inequality
BY JIM TURNER
THE NEWS SERVICE OF FLORIDA
TALLAHASSEE – A measure that calls for creating a pair of memorials to boys who were abused at a notorious state reform school, and directs the reburial of remains of unidentified victims, was signed into law on June 2.
The bill (HB 7115) provides $1.2 million to cover the costs of the reburials and memorials for youngsters who suffered physical and sexual abuse at the now-shuttered Arthur G. Dozier School for Boys in Marianna. It was among 33 bills signed into law by Gov. Rick Scott.“Today’s signing, coupled with an official […]
View Original: Governor signs Dozier, BP settlement bills into law
Financial and emotional stress lowers college attendance.
In a new Science study , researchers have found that the negative effects of job loss aren’t limited to the families of those that have lost their jobs, but extends to the entire community. Children in these communities suffer mental health challenges that lowers their test scores, and their chances of attending university. African-American students and those from the poorest families are most affected.
We spoke to one of the authors, Elizabeth O. Ananat from Duke University about the study. ResearchGate: What motivated this study? Elizabeth O. Ananat: Many economists had claimed that […]
View Original: Widespread job loss puts college in jeopardy for next generation