For many policymakers, the top two challenges we face when it comes to employment, wealth, and opportunity are that too many people are out of work and that there’s too little economic mobility.
On the first, although unemployment rates are quite low, our labor force participation rates have plummeted in recent decades. My colleagues Nick Eberstadt and Robert Doar have been tracking this phenomenon, and they (and others) have been prolific on the subject. I commend Eberstadt’s Men Without Work and “ Getting Men Back to Work ” by Doar, Orrell, and Holzer. There are lots of ways to measure […]
An intersection in Otero County, Colorado. Rags-to-riches stories , like Benjamin Franklin’s , have always captured the American imagination. They feed the narrative of the American Dream—that from humble beginnings, a scrappy, hardworking person can become prosperous, and afford opportunities his or her parents did not have. Through booms and recessions, people have bought into this myth .
The problem is: The American Dream lives and dies at the local level. Stanford* economist Raj Chetty has shown that conditions in our neighborhoods are really what shape our ability to escape poverty and determine if we will fare better than our […]
Scott G Winterton, Deseret News
File – Senator Mike Lee speaks at a Rally in Draper Utah, at the American Preparatory Academy Saturday, March 19, 2016. Many Americans — poor, middle class and wealthy — feel that something is amiss in society that can’t be reduced to economic anxiety but relates more to a sense that nation’s social fabric is fraying, Sen. Mike Lee said. SALT LAKE CITY — Many Americans — poor, middle class and wealthy — feel that something is amiss in society that can’t be reduced to economic anxiety but relates more to a sense that nation’s […]
LinkedIn Print E-mail Download Issue For parents in the top U.S. decile, 46 percent of their kids will end up in the top two deciles and only 2 percent in the bottom decile. The members of the top decile comprise a New Class of lawyers, academics, trust-fund babies, and media types—a group that wields undue influence in both political parties and dominates our culture. These are the people who said yes, there is an immigration crisis—but it’s caused by our failure to give illegals a pathway to citizenship!There’s a top ten […]
About this time every year, roughly 5,000 North Carolina 8-year-olds show they’re ready to shine. Despite the obstacles of poverty that hobble so many of their classmates, these third graders from low-income families take their first state exams and score at the top level in math.
With a proper push and support at school, these children could become scientists, engineers and innovators. They offer hope for lifting families out of poverty and making the state more competitive in a high-tech world.
But many of them aren’t getting that opportunity, an investigation by The News & Observer and The Charlotte Observer reveals. […]
Up from Slavery? Intergenerational Mobility in the Shadow of Jim Crow
William J. Collins and Marianne H. Wanamaker
Preliminary and incomplete draft: Please do not cite or circulate without the authorsâ€™ permission. Abstract: We have built new datasets of linked census records for the late nineteenth and early twentieth centuries to document black-white differences in intergenerational economic mobility. Whether viewed from an occupational or income-based perspective, southern whites were much more likely than blacks, conditional on fathersâ€™ status, to be upwardly mobile and less likely to be downwardly mobile. Children from poor white households often ascended into the American middle class, […]
Author, The Way Back: Restoring the Promise of America Frank Buckley is a Foundation Professor at Scalia Law School at George Mason University, where he has taught since 1989. Previously he was a visiting Olin Fellow at the University of Chicago Law School, and he has also taught at McGill Law School, the Sorbonne, and Sciences Po in Paris. He received his B.A. from McGill University and his LL.M. from Harvard University. He is a senior editor of The American Spectator and the author of several books, including The Once and Future King: The Rise of […]
Six Baltimore City schools — five high schools and one middle school — were found to have not a single student who scored proficient in math or reading in 2016, Fox45 News reports.
One student interviewed by the station said he believes students aren’t passing the state assessments because the material on the tests is not covered in class. Data shows that despite maintaining one of the country’s highest per-pupil spending levels , a recent study out of Harvard University found Baltimore to have the lowest rate of mobility out of poverty in the country, […]
AND ECONOMIC GROWTH*
Federico Cingano, ELS Employment Analysis Division
*Source: OECD (2015) In It Together: Why less inequality benefits all OECD Publishing, Paris.2/15â€¢ Long-standing interest in data collection and analysis â€¢ Early works â†’ mid 1970s; regular data collection â†’ mid 1990sâ€¢ Documented the (increasing) patterns of income inequality across MCs in many publications â€¢ Latest one warns: â€œThe gap between rich and poor is at its highestlevel since 30 yearsâ€OECD work on income distribution â€¦Shares of bottom, middle and top incomes in total income, OECD average 1985 to 2011/12, 1985 = 10.800.901.001.101.201985 1990 1995 2000 2005 2010Traditional definitionbottom 10% middle […]
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 […]