Business Insider Australia
Business Insider Australia is the Australian edition of the world’s fastest-growing business news website, Business Insider. Recent Posts
AUSTRALIAN STOCKS CLOSE WHERE THEY STARTED: Here’s what you need to… REPORT: Another senior staff member just resigned from Goldman Sachs The 10 most important things in the world right now Soaring stamp duty costs and prices, especially in Australia’s southeastern corner, are discouraging Australians from selling their homes.According to new research from CoreLogic, less than 5% of all Australian homes changed hands in the year to May, well below the 8%-plus levels […]
View Original: Stamp duties are making Australian housing affordability worse
The story we tell ourselves about upward income mobility is unraveling. The majority of respondents to a New America survey felt that it is harder than ever to attain a foundational element of the American dream, in which children earn more than their parents. But most respondents still believe another tenet of the American mobility narrative: that going to college creates upward mobility.
While it is true that college graduates do better in our economy than nongrads, earnings from different college degrees vary considerably. For low-income students in particular, not all college degrees are equally valuable. These and other recent […]
View Original: Leveraging new data can help low-income students climb the economic ladder, writes Michael Lawrence Collins.
There are many different ideas in the literature as to what constitutes a good mathematical measure of mobility, each with their own advantages and drawbacks.  
Mobility may be between generations ("inter-generational") or within a person or groups lifetime ("intra-generational"). It may be "absolute" or "relative". 
Inter-generational mobility compares a person’s (or group’s) income to that of her/his/their parents. Intra-generational mobility, in contrast, refers to movement up or down over the course of a working career.  Absolute mobility involves widespread economic growth  and answers the question “To what extent do families improve their incomes over […]
View Original: Economic mobility
Income mobility in the United States has stagnated, a fact that hurts the poor most of all. If President Trump wishes to keep his promises to help low-income Americans escape poverty, he should instruct his administration to jettison, rather than expand, non-criminal asset forfeiture.
Non-criminal asset forfeiture lets government agents seize Americans’ assets (cash, but also cars and even houses) on the mere suspicion that they were involved in a crime. Asset forfeiture is intended to deprive criminals of their ill-gotten gains, but frequently enables police to take the property of Americans who remain innocent in the eyes of the […]
View Original: How Civil Asset Forfeiture Reduces Economic Mobility
On March 6, 1860, Abraham Lincoln remarked , "When one starts poor, as most do in the race of life, free society is such that he knows he can better his condition; he knows that there is no fixed condition of labor, for his whole life." Later that year, he was elected to the presidency.
President Lincoln’s words in that speech showcased the American value of upward mobility. In sharp contrast to other western nations of the time, the United States was not married to a traditional caste system. Because of this shared ethos, the United States was — and […]
View Original: The Barriers To Success And Upward Mobility For First Generation Students And How To Fix The Problem
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 […]
View Original: Restoring America’s Economic Mobility
The map compares the "neighborhood effects" of counties on the marriage rates of poor children. The data is from the Equality of Opportunity Project, http://www.equality-of-opportunity.org/ An interactive version of the map is posted below. The same “neighborhood effects” that appear to increase the future earnings of poor, rural children also result in higher marriage rates.
Children who grow up in rural counties are more likely to be married by their mid- to late 20s than those who are reared in the middle of our largest cities.
In general, the longer a child spends growing up in a rural community, the […]
View Original: Rural Upbringing Increases Odds that Young People Will Marry
IMAGE: An infographic conveying results by Chetty et al ., which reveal that the probability for children to attain a higher income than their parents has dropped dramatically — from more than… view more Credit: Carla Schaffer / AAAS The probability for children to attain a higher income than their parents has dropped dramatically – from more than 90% for children born in 1940 to 50% for children born in the 1980s – according to a new study analyzing U.S. data. Results reveal that restoring economic mobility would require, in part, more equal economic redistribution. The "American Dream" promises […]
View Original: The fading American dream: Economic mobility has nearly halved since 1940
HARI SREENIVASAN: A report on poverty published on Thursday found a striking lack of economic mobility in America, that 43 percent of Americans born into families in the bottom fifth of the economic ladder are stuck there as adults, while 40 percent born in the top fifth stay there.
The data was part of Opportunity, Responsibility and Security: A Consensus Plan for Reducing Poverty and Restoring the American Dream. It was a partnership between two think tanks from different sides of the ideological spectrum, the Brookings Institute and the American Enterprise Institute.
And as part of our series on poverty called […]
View Original: New report finds Americans lack economic mobility, opportunity
Expert argues that occupational licensing reform will unlock the economic potential of former prisoners.
After she had served a year in prison, returned to school, and earned her nursing degree, the state of Illinois denied Lisa Creason the chance to become a licensed nurse because of her prior conviction. In August 2016, however, Creason stood by Illinois Governor Bruce Rauner as he signed a new law that would allow her, and other former inmates, a second chance to earn a living as a nurse.Nevertheless, despite Illinois’ progress in this area, workers around the country continue to face barriers to […]
View Original: Do Occupational Licenses Exacerbate the Prison-to-Poverty Pipeline?