College Scholarship Tycoon is a game where you’re asked to move your college up the rankings — but striking the wrong balance might force you to reject poor kids who really need college to give them a shot at a better life.
There are two primary parts to the game.
Who to accept? You see 10 student applications, with various family incomes and test scores. You can choose to accept students with good test scores who are more likely to have higher incomes, or you can choose to accept lower-scoring students who tend to have lower incomes. Who to give […]
View Original: Can you improve your school’s rankings without discriminating against the poor?
Rising inequality in America over the past four decades has undermined living standards and social mobility, dampened economic growth, and corrupted U.S. politics.
But what about the effects of inequality on civil society and the nonprofit sector? That question has gotten much less attention. Yet there are growing signs that the vast chasm between the super wealthy and everyone else is also having negative effects in these realms, too.
The problem, in a nutshell, is that the rich have become an ever more dominant force in philanthropic giving and, as a result, increasingly shape the priorities of civil society. While many […]
View Original: Tilting Upward: Skewed Giving Trends and Inequality in the Nonprofit Sector
Which colleges in America contribute the most to helping children climb the income ladder? How can we increase access to these colleges for children from low-income families? In a recent paper , my co-authors (Raj Chetty, Emmanuel Saez, Nicholas Turner, and Danny Yagan) and I take a step toward answering these questions by constructing publicly available “Mobility Report Cards” – statistics on students’ earnings in their mid-thirties and their parents’ incomes – for each college and university in the United States.
Mobility Report Cards for Columbia and SUNY-Stony Brook The figure above gives an example of these statistics for […]
View Original: Higher Ed’s Role in Economic Mobility
Election night results broadcasted Nov. 8, 2016. (Carlos Jasso/Reuters) The writer, a former deputy treasury secretary and founder and senior chairman of the investment banking firm Evercore, has worked on nine Democratic presidential campaigns, including Hillary Clinton’s in 2016.
The election of Donald Trump was, in many respects, the greatest presidential election upset in modern U.S. history. Now, with his presidency reeling amid a special-counsel probe, multiple resignations, an absence of legislative achievements and dismal approval ratings, many Americans already seem to view his victory as the equivalent of a hundred-year flood — in other words, the type of […]
View Original: Trump was an election surprise. Expect more.
Governments have come to recognize that income inequality hinders economic growth. How policy-makers will support inclusive growth remains to be seen.
Conventional wisdom on the relationship between economic growth and inequality has been turned on its head in recent years. The world’s leading economic institutions — the OECD, the World Economic Forum, the International Monetary Fund and the European Commission — no longer conceive of growth and social inclusion as unrelated policy goals. Indeed, each of them has endorsed in one form or another an inclusive growth agenda that “can create opportunities for all segments of the population and […]
View Original: What shape will an inclusive growth agenda take in Canada?
Glow Images/Getty Images The majority of Americans share in economic growth through the wages they receive for their labor, rather than through investment income. Unfortunately, many of these workers have fared poorly in recent decades. Since the early 1970s, the hourly inflation-adjusted wages received by the typical worker have barely risen, growing only 0.2% per year. In other words, though the economy has been growing, the primary way most people benefit from that growth has almost completely stalled.
Understanding how and why this stagnation occurred is not just an academic question — it is essential to redesigning public policies so […]
View Original: Why Wages Aren’t Growing in America
Fewer Americans are moving than ever before. The share of Americans who moved fell 11 percent last year, the lowest level since the Census started collecting such data back in 1948. Then, more than a fifth of Americans (20.2 percent) moved .
But this much-publicized record low obscures a deep, and deeply disturbing, split. Just as Americans are divided between rich and poor, red and blue, and skilled and unskilled, so too are we divided between the mobile and the stuck.
Take a look at the chart below from Lyman Stone , who consistently offers among the most interesting, data-driven […]
View Original: The Great Mobility Divide
Melissa S. Kearney : How Should Governments Address Inequality? : "In 2014, an unusual book topped bestseller lists around the world: Capital in the Twenty-first Century … …an 816-page scholarly tome by the French economist Thomas Piketty that examined the massive increase in the proportion of income and wealth accruing to the world’s richest people. Drawing on an unprecedented amount of historical economic data from 20 countries, Piketty showed that wealth concentration had returned to a peak not seen since the early twentieth century. Today in the United States, the top one percent of households earn around 20 percent […]
View Original: Weekend Reading: Melissa Kearney: How Should Governments Address Inequality?
City University of New York campuses made a strong showing among colleges with the highest mobility rates, a measure of the percentage of all students in a birth cohort at a particular college whose parents were in the bottom 20 percent for household income, and who reached the top 20 percent for individual earnings. Seven CUNY campuses were in the top 10 for mobility rates among four-year public colleges, and five CUNY campuses were in the top 10 among two-year public colleges. Five historically black colleges and universities ranked in the top 40 for mobility rates among four-year private […]
View Original: Colleges With the Highest Student-Mobility Rates, 2014
President Trump’s tax bill includes provisions to reduce tax rates on corporations, “pass-through” entities, and wealthy individuals, and removes the alternative minimum tax and estate tax. For the good of the country, particularly now, I believe we should raise ― not reduce ― those tax rates.
The additional revenue from these tax increases should be used to fund an American Dream Opportunity Trust Fund, an independent non-partisan entity charged with making American dream opportunities a reality for all citizens. This organization should be headquartered outside of Washington, D.C. and audited by the Office of Management and Budget.
This is an urgent […]
View Original: Why We Need To Raise Taxes, Not Reduce Them