Tag Archives: poverty

The South Has the Fastest-Growing Economies and the Least Economic Mobility for the Poor


Atlanta (Source: Wikimedia Commons) The South is booming from an economic standpoint. For proof of this, one need only look at cities such as Atlanta , Austin, Charlotte, Dallas, Orlando and Raleigh to understand there is a new South. Of the 20 cities listed on Forbes’ “fastest-growing cities in 2016” list, eight are in the South. Despite this reality, poor people in the South are not sharing in this growth. It is in Dixie — the former Confederacy, the Jim Crow states — where children have the toughest chance of getting ahead. This is where people have the lowest […]

The Dream Hoarders: How America’s Top 20 Percent Perpetuates Inequality

The Dream Hoarders: How America

Editor’s Note : This essay is an edited excerpt from Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do About It.

In January 2015, Barack Obama suffered an acute political embarrassment. A proposal from the budget he’d sent to Congress was dead on arrival—but it was the president himself who killed it.

The idea was sensible, simple, and progressive. Remove the tax benefits from 529 college saving plans, which disproportionately help affluent families, and use the money to help fund a broader, fairer system of […]

Trump’s Budget Represents His Administration’s Plan for Solving America’s Economic Ills

A woman holds a bag of pears.

(Photo: Justin Sullivan/Getty Images) After months of speculation, the Trump administration released last week its full budget proposal for 2018. As expected, the budget calls for increases in spending on defense and border security (including funding for a wall along the southern border of the country). It also manages to balance within 10 years (at least it does, according to some extremely sunny GDP growth projections and highly questionable math ) without making any cuts to Medicare and what the administration describes as the "core" function of Social Security—retirement benefits. It’s a feat that Mick Mulvaney, director of the […]

Our Schools Have an Equity Problem. What Should We Do About It?


State education leaders will redefine K-12 policy under ESSA

What is educational equity, whereby all students have equal access to opportunities for a high-quality education? What does it look like when it’s successful, and what does it take to achieve it? These questions have been driving our work at the Aspen Institute’s Education & Society Program for the past several years, and even more so for the last 18 months, as the result of a shift in the federal role in public education and concerns from the state leaders with whom we work.

For most of the last half-century, […]

Income, wealth, and IQ


I’m occasionally asked about financial returns to cognitive ability. As a rough rule of thumb, judging from the graphs below (obtained here ), I would say: On average, an increase of IQ by one SD corresponds to ~ $30k per annum of additional income. (Somewhat less than 1 SD in income; the distribution is far from normal.)

By early middle age, individuals > 90th percentile in IQ have, typically, more than twice the wealth of individuals who are of average IQ. If you can find better data than what is shown below, please let me know. (How do […]

Social inequality in america essay


> Social inequality in america essay

For about a century, economic inequality has been measured on a scale, from zero to one, known as the Gini index and named after an Italian statistician, Corrado Gini 11/20/2012 · Video embedded · Infographics on the distribution of wealth in America , highlighting both the inequality and the difference between our perception of inequality …“Our inequality materializes our upper class, vulgarizes our middle class, brutalizes our lower class.” – Matthew Arnold, English essayist (1822-1888)A summary of Poverty in America in ‘s Social Stratification and Inequality . Learn exactly what happened in this […]

The EU’s plan to fight ‘inequality’ is undermined by its own data – and King Solomon


King Solomon, taken from a Russian patchwork. (Photo credit: Rogacheva Elena. This photo has been cropped and modified. CC BY-SA 3.0.) Economic growth is so vibrant in Europe that it is time to begin redistributing all the excess wealth, according to EU officials in Brussels. The European Commission issued its country-specific resolutions on Monday, and it believes the recovery from the Great Recession has been robust enough for EU members to turn their vision toward combating “economic inequality.”

“This year, addressing inequality is firmly at the heart of our assessment,” said Marianne Thyssen, the EC’s Commissioner for Employment, Social Affairs, […]

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 […]

Editorial: Minnesota above average, but economic inequality persists


This is the second installment in an editorial series called The Changing Face of Minnesota. This year, the ECM Publishers Editorial Board is examining demographic changes and disparities in Minnesota that center around race, wealth, age, region and employment. Years before “the 1 percent” was coined as an invective against deeply uneven U.S. wealth distribution, a Minnesota congressman was tilting his sword at the problem.

The late Martin Sabo, a Minneapolis Democrat, repeatedly introduced a bill called the Income Equity Act to limit corporate tax deductions on executive salaries. His ambition, always thwarted, was to use the tax code […]

Editorial: Minnesota above average, but economic inequality persists


This is the second installment in an editorial series called The Changing Face of Minnesota. This year, the ECM Publishers Editorial Board is examining demographic changes and disparities in Minnesota that center around race, wealth, age, region and employment. Years before “the 1 percent” was coined as an invective against deeply uneven U.S. wealth distribution, a Minnesota congressman was tilting his sword at the problem.

The late Martin Sabo, a Minneapolis Democrat, repeatedly introduced a bill called the Income Equity Act to limit corporate tax deductions on executive salaries. His ambition, always thwarted, was to use the tax code to […]