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
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
A new report by the Social Mobility Commission (SMC) has identified areas with the worst prospects in the UK. And its study of national inequality has turned up surprising results. Especially for those still clinging to the concept of the ‘ North-South divide ‘. The Watford Gap
The boundary between Northamptonshire and Warwickshire, known as the ‘Watford Gap’, has traditionally been given social and economic importance. The perception was that areas to the north were more disadvantaged than those to the south. As recently as 2015, reports suggested the North/South divide not only still existed, but had widened. […]
View Original: North/South divide? Think again. National inequality is far more complex than that.
German Chancellor Angela Merkel attends a plenary session of Germany’s Parliament. Berlin, Nov. 21. (Michael Kappeler/DPA/AP) Marcel Fratzscher is president of the German Institute for Economic Research (DIW Berlin) and professor of macroeconomics and finance at Humboldt University of Berlin.
BERLIN — Can you guess the country to which the following facts apply? Economic growth and wage growth have been below average over the past 20 years. More than one in five people have only temporary, low-wage or marginal jobs. Social and political polarization is increasing. Wealth inequality is among the highest of Western countries, and the government is […]
View Original: Germany is no poster child for economic growth
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THE WORD “millennial” was first pressed into service as a noun in 1991 by William Strauss and Neil Howe in their book, Generations: The History of America’s Future, 1584 to 2069 . (Strauss had, by the time of the book’s publication already left an indelible mark on American culture: in 1981, he helped to found The Capitol Steps, the live performance troupe that delivers light political satire through mildly bawdy musical parodies drawn from the American songbook — e.g., “Papa’s Got a Brand-New Baghdad,” “Springtime for Liberals,” “Unzipping My Dooh Dah.”)
Strauss and Howe introduced the term […]
View Original: Won’t Get Fooled Again: Malcolm Harris’s “Kids These Days: Human Capital and the Making of Millennials”
Download report (PDF) This is a guest post by NLC President Matt Zone, councilmember, Cleveland.
The promise of economic mobility and opportunity lies at the heart of America’s culture and democratic society. At its core, this promise hinges on two basic concepts: first, that everyone has a chance to improve their economic status and wellbeing through personal initiative and hard work; and second, that the benefits of economic growth reach all population groups.
The American Dream, as it is so often called, has never been fully realized in every era and for every segment of society but it has been […]
View Original: Keeping the American Dream Alive
Grant and Katelyn Hobin work multiple jobs to pay off student loans while they wait to have a family. Buy Photo When her coworkers ask her to join them for a lunch out, Katelyn Hobin often declines, choosing to pinch pennies where she can.
A Des Moines social worker, Hobin never expected to be rich: She earned a liberal arts degree from a private college and entered a notoriously low-paying profession.
But she also never expected to find herself here.At 32, she’s still paying off student loans. Both she and her husband, Grant, a teacher, have part-time jobs in addition to […]
View Original: Most Iowa wages have stagnated. But the rich keep getting richer.
Research Proposal: Cause and Effect of Gender A Model of Gender Inequality and Economic Growth This paper introduces a model of gender inequality and economic growth. Read more. Introduction . Bangladesh Rural Advancement Committee (BRAC). Gender inequality is a result of the persistent discrimination of one group of people based upon If you ask an economist to explain the causes of poverty in Bangladesh, you are most likely to receive an overly jargonised lecture, beyond the ability of The causes of poverty in Bangladesh are tough to tackle, weak infrastructure and gender inequality that prevents women from contributing to […]
View Original: Causes of gender inequality in bangladesh
Happy Thanksgiving! I am hopeful, on this traditional day for giving thanks, that everyone can put aside their differences, and recognize the many blessings we enjoy in this nation. Whether young, old or in-between, rich or poor, native-born or immigrant, regardless of belief or gender, we are so fortunate to live in America. And even more fortunate, perhaps, to live in Northern Virginia, where diversity is celebrated and welcomed, not mocked.
Granted, not everyone agrees, but most public policies in our local jurisdictions focus on uniting, not dividing, The most recent example is the One Fairfax policy under consideration by […]
View Original: A Penny for Your Thoughts: News of Greater Falls Church