If you are one of the lucky few who grew up poor but managed to thrust yourself into the middle class or beyond with an advanced degree, then you might have noticed a change in how you speak. The language of the educated is fundamentally more rigid: Words have more precise definitions and grammar is strict. Nuance becomes significantly easier, albeit at the expense of general understanding.
This language barrier is a “big-league” problem and it’s not new. Americans love rags-to-riches stories. The belief that your success should be based on hard work and not, say, race or title, is […]
I think the intuition that inequality is divisive and socially corrosive has been around since before the French Revolution. What’s changed is we now can look at the evidence, we can compare societies, more and less equal societies, and see what inequality does.
I’m going to take you through that data and then explain why the links I’m going to be showing you exist. But first, see what a miserable lot we are. (Laughter) I want to start though
with a paradox. This shows you life expectancy against gross national income — how rich countries are on […]
There is a growing sense that globalisation, by equalising the international price for labour and for capital, has acted to reduce both real wages and real interest rates – the former means that labour earns less but the latter tends to inflate asset prices. This wedge in the return to capital and labour may help us understand why income and wealth inequality has increased in the recent past. Those who rely only on labour income will not have done as well as those who own some capital. The financial boom may have acted to mask some of this increase […]
Income Inequality and Poverty – NBER
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Sociology Research Paper – Download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online. sociology The Journal of Economic Inequality – Springer 07.02.2017 · Project on Inequality How Health, Education, Wealth, and Family Resources Are Shaping Economic Inequality. John Karl Scholz and Barbara Wolfe, … What do trends in economic inequality – Equitable Growth Economic inequality is tax loopholes are definitely not a product of some power shift due to recent increases in economic inequality. The golden age of economic , Volume […]
Pretty much any adult with a rudimentary degree of financial knowledge is aware of the impact that interest rates have on housing. Lower rates make monthly payments cheaper and higher rates make monthly payments more expensive on a relative basis. Since nearly all homes are financed, rates impact buyer demand and prices rise and fall accordingly.
What’s far less understood is the impact that housing costs have on interest rates. Let me explain: the cost of shelter is basically a necessary evil. Houses are not a particularly dynamic economic investment yet still represent the largest “asset” that most people own. […]
Consider this shocking statistic on income inequality: The eight richest men on earth control as much wealth as half of the global population , or the poorest 3.6 billion people.
While those are global statistics, the problem is mind-numbing in the U.S., too. The top 1 percent of American households earned an average of $1.26 million in 2014; the bottom 90 percent got an average of $33,068. And since 1965, income inequality has worsened: The ratio of CEO pay to worker wages skyrocketed from 20-to-1 to 303-to-1 in 2014.
This increasingly gratuitous income inequality gap is contributing to global poverty, health […]
The following is an adapted excerpt from Ronald Formisano’s Plutocracy in America: How Increasing Inequality Destroys the Middle Class and Exploits the Poor as a part of our Black History Month blog series.
Unequal access to health care is but one example of how income inequality creates a proliferating range of consequences not often discussed in relation to one another. None of these subjects has been ignored or unreported somewhere, either in print or on the Internet. But by drawing many of these topics together and showing interconnections, I highlight the widespread consequences of inequality as it washes through society […]
Raj Chetty Economic Mobility: Research & Ideas on Strengthening Families, Communities & the Economy
This new publication released by the Federal Reserve Bank of St. Louis and the Board of Governors of the Federal Reserve System includes papers originally presented at the ninth biennial Federal Reserve System’s Community Development Research Conference, including this article by Raj Chetty. The authors of the essays in this volume explore a range of issues and concepts central to understanding how—and how well—people are able to move economically.
Visit the publication’s webpage on the St. Louis Fed’s website to view each article separately or download […]
Vice President Mohammad Hamid Ansari delivering the inaugural address at the First Edition of the Huddle, A Three-day Conclave, organised by The Hindu newspaper, in Bengaluru on February 10, 2017. (Photo – PIB) IndiaTomorrow.net,
Bengaluru, Feb 11: Vice President of India Mohammad Hamid Ansari has warned of public despair and social conflicts if rising economic inequality, which is the number one risk, is not checked.
He was delivering the inaugural address, titled ‘Living in Febrile Times’, at the First Edition of the Huddle, a three-day conclave organised by The Hindu newspaper, here on Friday.The Vice President said that the improving […]
New Delhi, Feb 10 (IBNS): Vice President of India M. Hamid Ansari has said that the inequality is the number one risk because it is associated with a rise in populism and threatens the cohesiveness of countries.
He was delivering the inaugural address at the First Edition of the Huddle, A Three-day Conclave organised by The Hindu newspaper, here on Friday.
The Governor of Karnataka, Shri Vajubhai Vala and other dignitaries were present on the occasion.The Vice President said that to enjoy the ‘freedom of,’ there is a requirement first for certain ‘freedom from’. To survive with dignity, humans require both […]