Tag Archives: technology

Even More Evidence the US Is a Kleptocracy, Not a Meritocracy


Inequality is much worse than we’re led to believe by a dismissive business media. The numbers are hellish, and they’re growing.

1. The Extreme Wealth Gap is Still Expanding

The U.S. has gained $30 trillion in wealth since 2008, about half of it in the stock market , much of the remainder in real estate holdings. Based on prior analyses , data from Credit Suisse and Forbes , and recent work by Thomas Piketty, Emmanuel Saez, and Gabriel Zucman, it’s a rather simple process to estimate the distribution of our nation’s wealth over that time period. The following are […]

Want to help people? Focus on economic mobility, not inequality

Want to help people? Focus on economic mobility, not inequality

© Getty Images Both in the United States and around the world, income inequality and economic mobility have been thrust into the center of the most relevant policy conversations of our time. Political leaders from Presdient Obama and Pope Francis to Sen. Bernie Sanders (I-Vt.) and British Labor Party Leader Jeremy Corbyn are quick to discuss inequality as the main culprit of our current economic and social problems.

That focus on inequality, while well-intentioned, has resulted in policies that have taken a toll on a different policy goal: ensuring that everyone has a fair shot at moving up the income […]

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 […]

Robots and AI are going to make social inequality even worse, says new report


Most economists agree that advances in robotics and AI over the next few decades are likely to lead to significant job losses. But what’s less often considered is how these changes could also impact social mobility. A new report from UK charity Sutton Trust explains the danger, noting that unless governments take action, the next wave of automation will dramatically increase inequality within societies, further entrenching the divide between rich and poor.

The are a number of reasons for this, say the report’s authors, including the ability of richer individuals to re-train for new jobs; the rising importance of “soft […]

These Are The Best Colleges For Economic Mobility By State

best colleges for economics mobility in each state

We looked at the most recent data to determine which schools give their students the best chance of moving up the economic ladder in each state. A college education has long been ingrained in our psyches not just as key, but the key to economic mobility. And for many parents, one of the first things they do to get adulting is open up a college fund, hoping this will give their kids the whole American Dream thing — and we’ve got a list of the best schools for catapulting students into the wealthiest brackets.

We at Zippia have put together […]

Are Competencies More Important Than Credentials In The Modern Workplace?

competency-based training

As college enrolments decline, have skills become more valuable to employers than credentials?

“From almost any individual’s perspective,” wrote David Leonhardt for the New York Times in 2014, “college is a no-brainer. It’s the most reliable ticket to the middle class and beyond.”

Given the exorbitant expenses of third-level education in the US, Leonhardt’s statement is unpalatable for many, yet hardly controversial. For decades, students and parents have aspired towards gaining college degrees with the widely held conviction that to get a good job, the first thing you need is a good education.It’s a truism that holds up as well […]

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 […]

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 […]

Is it inequality of income we care about — or inequality of opportunity?


Is it inequality we care about, or inequality of opportunity? (Michael Williamson/The Washington Post) Inequality may well be the issue of our time. But is it inequality of income we care about, or inequality of opportunity? And what is opportunity — the opportunity to do better than our parents, or better than ourselves at an earlier age, or does it mean doing better relative to everyone else? Can some of us get wealthier without making others poorer? Would inequality recede if we just had more economic growth?

These questions animate two new books. One is “ Dream Hoarders: How the […]

These 3 charts explain the economic side effects of the student loan crisis

student loans debt

Occupy Wall Street demonstrators participating in a street-theater production wear signs around their neck representing their student debt during a protest against the rising national student debt in Union Square, in New York. Reuters/Andrew Burton

It’s no secret that we’re in the midst of a student loan crisis. Student loan debt has grown more than auto loan, credit card and home equity loan debt combined since 2003, according to the Federal Reserve Bank of New York, as the cost of higher education has skyrocketed and more students have flocked to get degrees.

The proliferation of high-interest student loans has outpaced […]