Tag Archives: skills

Economic Mobility: Research & Ideas on Strengthening Families, Communities & the Economy

Economic Mobility book

Economic Mobility: Research & Ideas on Strengthening Families, Communities & the Economy is a new publication released by the Federal Reserve Bank of St. Louis and the Board of Governors of the Federal Reserve System. 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.

Foreword

Janet Yellen, Chair, Board of Governors of the Federal Reserve System The Importance of Economic Mobility (PDF) Introduction Ray Boshara, Federal Reserve Bank of St. Louis, and David Buchholz, Board of Governors of the Federal Reserve […]

How Invisible Inequality Hurts the Poor


We need to confront how increasing income inequality is affecting people’s inner lives. In a lecture at INSEAD’s Fontainebleau campus a couple of months ago, Professor Robert Frank of Cornell University argued that pure luck (beyond effort and personal circumstances) would become more salient for professional success and quality of life in the context of a winner-take-all society fuelled by technology ( digitalisation in particular) and new ways of doing business. Frank’s argument resonates: Economic and social advantages clearly are disproportionately accruing to the “lucky” few who create the next big start-up or come up with a digital idea […]

Barriers to opportunity in today’s America


Gina Luster, 42, and daughter Kennedy Luster, 8, at a now-defunct water fountain in downtown Flint, Mich. Luster’s interest in activism began with the city’s water crisis and has now transformed into a full-time position for a local nonprofit. (Brittany Greeson for The Washington Post) I need a Trumpcation, by which I definitely do not mean a weekend in Mar-a-Lago, but a break from the chaos wrought by the administration.

To be clear, I’m not getting out of the vigilant oversight business, especially regarding attempts to sabotage the Affordable Care Act or pass big, wasteful, regressive tax cuts. But it’s […]

Treasury Secretary Mnuchin says AI taking US jobs is ’50-100 years away’ — but it’s already beginning to happen

steven mnuchin

On Friday, US Treasury Secretary Steven Mnuchin answered a slew of questions in an interview with Axios’ Mike Allen about the global economy and US labor market, including about the threat of artificial intelligence (AI) affecting American jobs.

Mnuchin is not overly worried. Concerns about AI and jobs are so far way "it’s not even on our radar screen… 50-100 years" away, he said, according to Axios.

"I’m not worried at all" about robots displacing humans in the near future, he said, before adding, "In fact, I’m optimistic."However, studies have estimated that AI could affect jobs much sooner than that. And, […]

Restoring America’s Economic Mobility

Frank Buckley
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 […]

Getting ahead in the city is hard. In rural America, it’s even harder.


Photo by Brett Carlsen/Getty Images It has been snowed over by the rallying stock market and the cascade of controversies in the early months of the Trump administration, but the 2016 election revealed a deep economic and geographic divide in America. That divide remains critical — though not sufficient — to understanding both Donald Trump’s victory in that election and the policy debates that have defined his presidency so far.

Trump’s victory over Hillary Clinton was fueled by a growing Republican dominance in rural areas , as NPR’s Danielle Kurtzleben wrote last fall. Those areas have been left behind by […]

Remarks by the President on Economic Mobility

THE PRESIDENT: Thank you. (Applause.) Thank you, everybody. Thank you so much. Please, please have a seat. Thank you so much. Well, thank you, Neera, for the wonderful introduction and sharing a story that resonated with me. There were a lot of parallels in my life and probably resonated with some of you.

Over the past 10 years, the Center for American Progress has done incredible work to shape the debate over expanding opportunity for all Americans. And I could not be more grateful to CAP not only for giving me a lot of good policy ideas, but also giving […]

Bootstrap myth exposed: White inheritance key driver in racial wealth gap


Madison365 Professor Thomas Shapiro “Blacks/Latinos/non-whites don’t value education like whites do. They don’t work as hard as whites do. They spend more than whites do on junk,” says your standard white guy at the end of the bar dissecting the large racial wealth gap in the United States. “They just need to get off their butts and bootstrap it up like I did!”

However, the old tried-and-true American bootstrap lore took a big hit this month with a study that shows most families living with the material comfort and range of opportunities normally associated with middle-class status have obtained them […]

Unemployment numbers don’t tell real struggles of US families

Unemployment numbers don

© Getty Images Monthly unemployment figures have long been the barometer of America’s economic health. Unfortunately, they fail to tell the real story of the economic pressures experienced by American families, conditions that are rife with employment insecurity that constrict and ultimately threaten the American dream.

It is time for a new measure of economic health, one that takes into account a new national climate that has been changed by technology, labor practices, globalization and cataclysmic events such as the Great Recession and its seemingly bounce-less rebound for low- and middle-income Americans.

To truly understand the economic stability of American families, […]

Restoring America’s Economic Mobility

Frank Buckley
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 […]