Tag Archives: education

Economic Inequality: It’s Far Worse Than You Think


According to Pew Research, most Americans believe the economic system unfairly favors the wealthy, but 60% believe that most people can make it if they’re willing to work hard. Credit: Credit: Allan Danahar via Thinkstock In a candid conversation with Frank Rich last fall, Chris Rock said, "Oh, people don’t even know. If poor people knew how rich rich people are, there would be riots in the streets." The findings of three studies, published over the last several years in Perspectives on Psychological Science , suggest that Rock is right. We have no idea how unequal our society has […]

Research shows how Generation Z thinks differently from millennials when it comes to money

surprised millennials

Gleb Leonov/Strelka Institute/Flickr You’ve heard all about how millennials manage money , as well as career and financial decisions. But what about their kid brothers and sisters? It turns out research suggests Generation Z isn’t as freaked out by adulting as were previous generations, especially when it comes to money .

That’s right: Younger Americans are not only squirreling away money they earn from their after-school jobs, they’re also already planning for retirement . Debates rage about when the Millennial generation ends and Gen Z begins, but Jason Dorsey, president of the Center for Generational Kinetics, a consulting firm, says […]

Escaping Poverty Requires Almost 20 Years With Nearly Nothing Going Wrong

A man cleans up confetti while surrounded by tourists in Times Square in New York.

Keith Bedford / Reuters A lot of factors have contributed to American inequality: slavery, economic policy, technological change, the power of lobbying, globalization, and so on. In their wake, what’s left?

That’s the question at the heart of a new book, The Vanishing Middle Class: Prejudice and Power in a Dual Economy , by Peter Temin, an economist from MIT. Temin argues that, following decades of growing inequality, America is now left with what is more or less a two-class system: One small, predominantly white upper class that wields a disproportionate share of money, power, and political influence and a […]

The Stanford Daily | How income inequality stacks up at Stanford

 (NA HE JEON/The Stanford Daily)

(NA HE JEON/The Stanford Daily) It’s Admit Weekend. Campus has never looked more alive – White Plaza bustles with opportunity in every direction, pamphlets fly between hands and every office opens its doors in eager welcome to the newcomers. To prospective freshmen wandering hopelessly amidst the chaos, Stanford exists as a symbol of new hope and tangible success: the American dream finally realized. The University presents itself as a generous lending hand, lush with resources ready to embrace students from all walks of life and on every level of the socioeconomic spectrum.

Stanford’s admissions website boasts a $22.4 billion endowment […]

The Assault on Colleges — and the American Dream


Some of the biggest declines in grants promoting economic diversity in public colleges have been in the University of California system. David Leonhardt The country’s most powerful engine of upward mobility is under assault.

Public colleges have an unmatched record of lofting their students into the middle class and beyond. For decades, they have enrolled teenagers and adults from modest backgrounds, people who are often the first member of their family to attend college, and changed their trajectories.

Over the last several years, however, most states have cut their spending on higher education, some drastically. Many public universities have responded by […]

The Intrinsic Value of Inclusive Growth

Speeches

Presented by Patrick T. Harker, President and Chief Executive Officer
Federal Reserve Bank of Philadelphia
Pennsylvania Economic Association Annual Conference Reading, PAGood afternoon and welcome; it’s a pleasure to be here.Today, I’d like to give an overview of the economic outlook, including my views on monetary policy, then talk a bit about a subject that’s crucial to economic success on a local, regional, and national level but that often gets treated as a separate subject: economic growth and mobility.Before I do that, let me perform the sacred Fed ritual of delivering the standard disclaimer: The views I express […]

Inequality in American Cities Is Worse Than Mexico, Study Reveals


This article was originally published on The Conversation . Read the original article .

The cities of the Americas are unequal places.

U.S. census data and recent American Community Surveys show that in most modern American metropolises, resources are unevenly distributed across the city—think New York City’s lower Manhattan versus the South Bronx—with residents enjoying unequal access to jobs, transportation and public space.In 2014, New York City’s GINI inequality index was 0.48, meaning that income distribution was less even in New York City than in the U.S. as a whole (0.39). It was also higher than the most unequal […]

Success of Indians in the U.S. showcases importance of education


Indian Americans are the wealthiest and most highly educated immigrants in the United States; the secret to their success lies in the selection process in India, says Economics Professor Nirvikar Singh. (Photo by Melissa De Witte) At a moment when immigration to the United States is being challenged at the highest levels of government, the experience of Indian immigrants in America offers valuable lessons about the mutual benefits of open borders.

Indian Americans are the wealthiest and most highly educated immigrants in the country. But there’s nothing special about Indians per se, according to Economics Professor Nirvikar Singh, coauthor of […]

Study: US Cities Have Worse Inequality Than Mexico, With Rich And Poor Living Side-By-Side


Skid Row in Los Angeles, a city where rich and poor live in very close proximity – for better and for worse The cities of the Americas are unequal places.

US census data and recent American Community Surveys show that in most modern American metropolises, resources are unevenly distributed across the city – think New York City’s lower Manhattan versus the South Bronx – with residents enjoying unequal access to jobs, transportation and public space.

In 2014, New York City’s GINI inequality index was 0.48, meaning that income distribution was less even in New York City than in the US […]

Study: US cities have worse inequality than Mexico, with rich and poor living side by side

Study: US cities have worse inequality than Mexico, with rich and poor living side by side

Gentrification has occurred in many North American cities, increasing local income inequality and, in some cases, tensions. Credit: Michael Premo/flickr, CC BY-ND The cities of the Americas are unequal places.

US census data and recent American Community Surveys show that in most modern American metropolises, resources are unevenly distributed across the city – think New York City’s lower Manhattan versus the South Bronx – with residents enjoying unequal access to jobs, transportation and public space.

In 2014, New York City’s GINI inequality index was 0.48, meaning that income distribution was less even in New York City than in the US […]