Tag Archives: technology

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.

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 much larger, minority-heavy (but […]

Peter Temin: Economic Mobility Requires the Nearly Impossible |TTI


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 much larger, minority-heavy (but […]

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.

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 much larger, minority-heavy (but […]

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 […]

Crisis in reverse

David Paul Morris / Bloomberg files</p&gt<p&gtCutline here (this is San Francisco BTW).</p&gt

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Advertise With Us Previous eras saw populations fleeing urban centres — now they’re coming back

David Paul Morris / Bloomberg files In The New Urban Crisis Richard Florida, an American University professor and current director of the Martin Prosperity Institute at the University of Toronto, compellingly and convincingly defines the problems facing today’s cities and their suburban counterparts.During the "old" urban crisis of the 1960s and 1970s, the suburban exodus left city centres hollowed out, poor and crime-ridden. Now, according to Florida, we face the "new" crisis in which the technology, knowledge and creative workers are returning and […]

The concept of “fissure” explains a lot of what’s wrong with the economy


There was a time if you looked around your office everyone was an employee of the company’s whose name was on the door. Now, odds are the person you call for tech support, the person at the front desk, and the cleaning staff all work for someone else, namely a firm that supplies contractors to companies like yours. This is known as workplace fissure.

Research by economists Larry Katz and Alan Krueger has explored the trends in alternative work arrangements like these (pdf). They estimate that non-standard employment (gig work, temp work, contractors) accounted for a around 10% of American […]

Archbridge Institute Releases Optimistic New Research on Economic Mobility


There is a new think tank in town: the Archbridge Institute , led by Gonzalo Schwarz, formerly of the Atlas Network. Their work focuses on economic mobility around the world. They recently released a study by Scott Winship , the first in a three-part series examining the issue. His primary finding is that relative mobility in the U.S. isn’t very strong—children born into middle class families tend to stay middle class, and children born into poor families tend to stay poor. But what about absolute mobility? The executive summary states:

[R]oughly three in four adults—and the overwhelming majority of poor […]

No, iPhones Aren’t Luxury Items. They’re Economic Necessities


Apple To make it in America, you have to hustle. Fast-food worker or CEO, Uber driver or student, you have to stay connected in an economy built on the assumption that anyone is always reachable anywhere. In 2017, that means you need a smartphone.

When Apple released the iPhone in 2007, the world understood it as a gadget, a novelty, a cool thing you plunked down a handful of cash for if you were lucky enough to have the money. Then you just needed to figure out what to do with it. At first the answer was: play games and […]

Urban Inequality Is a Crisis, But Don’t Blame Techies for It


As technology companies and the techies who work for them have headed to cities, they have increasingly been blamed for the deepening problems of housing affordability and urban inequality.

A few years ago, for example, the San Francisco-based writer Rebecca Solnit complained that the Bay Area’s conflict pitted “writers, artists, activists, environmentalists, eccentrics” against the newly moneyed tech elite.

But there is little evidence that the influx of wealthy people into the urban core and the transformation of some leading creative neighborhoods had led to any substantial diminution of these cities’ overall creative capacities. In fact, cities like New York, London, […]

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 […]