Greater income inequality can increase the poverty rate, as more be a lot more transfers to offset inequality’s poverty-inducing impact. Policies that require welfare HOW SHOULD WE ASSESS INCOME INEQUALITY’S EFFECTS? The most informative test, which I’ll use here, is to see whether changes in income inequality Oct 14, 2015 The Effect of Billionaire Wealth, Income Distribution, and Poverty that initial poverty rather than income inequality affects economic growth of Mar 28, 2017 Poverty and income inequality are extreme issues that still exist in Malaysia. Policies that require welfare Use Forbes’ list of billionaires to derive a global measure […]
(Bloomberg) — By many measures, the city of Chicago, the third most populous in the U.S., is doing well. The city’s well-diversified economy has bounced back from the lost decade of the Great Recession, in terms of both output and employment levels. Meanwhile, the city hasn’t seen the kind of dramatic rise in housing costs suffered in many other cities: average rent is lower even than in sprawling Los Angeles, and housing is still a buyer’s market.
Perhaps partly for that reason, companies are moving to Chicago: Caterpillar Inc., for example, is shifting its headquarters from Peoria in central Illinois, […]
In 1940, 92 percent of kids in America could grow up to do better than their parents, economically-speaking. Today, that’s just 50 percent. The American Dream, in other words, comes down to a coin toss. This issue, it turns out, really comes down to the neighborhood inequalities.
“While this is a daunting national trend, its roots are really at the local level,”says Raj Chetty, an economist at Stanford University, speaking at CityLab Paris , an annual convening of city leaders. And because each locale has its own constellation of problems dragging down its residents, solutions need to be data-driven and […]
Our first finding is that wealth inequality has a negative, statistically significant relationship with economic growth, while the effect of income inequality is insignificant or only borderline significant, and the effect of poverty is statistically insignificant in nearly all specifications. Hence, using an encompassing model, we show that in head-on comparisons it is wealth inequality, rather than income inequality or poverty, that is significantly related to economic growth. Does Wealth Inequality Matter for Growth? The Effect of Billionaire Wealth, Income Distribution, and Poverty
(that must have been hard for them to admit)
Also of note: […]
In 2013, Harvard University, Stanford University, and the University of California- Berkeley released findings from their joint Equality of Opportunity Project. The project looked at causes and potential solutions for cases of intergenerational poverty and inequality throughout the United States. Charlotte, Davidson’s most prominent urban neighbor, did not fare well in the study.
According to the findings, out of the country’s 50 largest cities, Charlotte ranked last for economic mobility. If born into the bottom 20th income percentile, a Charlottean had just a 4.4% likelihood of making it to the top 20%.Impoverished individuals in some other major cities fared […]
On Tuesday, September 5th, the Brookings Institution’s Center on Children and Families and the Race, Prosperity, and Inclusion initiative will host J.D. Vance, author of Hillbilly Elegy, and William Julius William, author of The Truly Disadvantaged, to further explore the race and class divide in America. To register for this event, please click here.
The legacy of American racism is dominating the headlines again. One of the arguments used against the removal or relocation of Confederate symbols is that “it is simply part of our history”. This is not the case. The results of the enslavement, disenfranchisement […]
Children in an after-school program on the playground at a recreation center in the Thomasville Heights neighborhood in Atlanta. Angie Allen moved to Atlanta in 1971 and began working as an equities trader at Bear Stearns. She thrived in finance and was paid accordingly. In 1990, she co-founded an investment management firm, Globalt Investments, and sold it 12 years later to Synovus Financial Corporation.
Given her professional success, she lived in the city’s nicest neighborhoods. For a while she had a home in Buckhead, in a desirable northern section of Atlanta. Now she and her husband, Sam, live in Ansely […]
Jody Agius Vallejo, University of Southern California – Dornsife College of Letters, Arts and Sciences
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)
Jody Agius Vallejo, University of Southern California – Dornsife College of Letters, Arts and Sciences(THE CONVERSATION) American Latino economic elites have incomes and wealth in the top 5 percent of earners. Some own multi-million-dollar companies or work as corporate executives. Latino politicians – like Kevin De León, who is serving as California Senate president while running for U.S. Senate, and California’s Attorney General Xavier Becerra – are especially visible in […]
Calling All Entrepreneurs to Rekindle the American Dream
By Gonzalo Schwarz, CEO and founder of the Archbridge Institute
The best known definition of the American Dream is by James Truslow Adams in his book The Epic of America :“ … that dream of a land in which life should be better and richer and fuller for every man, with opportunity for each according to his ability or achievement. … It is not a dream of motor cars and high wages merely, but a dream of a social order in which each man and each woman shall be able to attain […]
Dental program students work in the lab at the University of Alberta in Edmonton Alberta, October 11, 2017. (Photograph by Jason Franson) When Bernie Sanders took his well-publicized cook’s tour of Canada’s much-vaunted universal public health care system recently, he wouldn’t have seen a cavity being ﬁlled or a root canal performed or a missing front tooth replaced. That’s because most oral health care is exempt from provincial and territorial health-care plans (some dental services are covered by government dental programs, but working-class people lacking employer coverage are on their own).
It’s a glaring omission that’s both illogical and a […]