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
If the new generation can’t do better than their parents, is the American Dream dead? (Photo: Beth Rankin )
Our latest Freakonomics Radio episode is called “Is the American Dream Really Dead?” (You can subscribe to the podcast at iTunes or elsewhere , get the RSS feed , or listen via the media player above.)
Just a few decades ago, more than 90 percent of 30-year-olds earned more than their parents had earned at the same age. Now it’s only about 50 percent. What happened — and what can be done about it? Below is a transcript […]
View Original: Is the American Dream Really Dead?
As I begin my first full semester as president of Pace University after serving for 10 years as president of Oberlin College, I find myself looking to the past and the things I’ve learned. I can’t help but reflect on the extraordinary changes I’ve witnessed in American higher education along the way.
This past decade has been one of transformation for our nation and our colleges and universities. Barack Obama was twice elected president of the United States. We experienced the Great Recession — the worst economic downturn since the Depression. Income inequality has grown from a significant problem to […]
View Original: Opinions on Inside Higher Ed
Economic growth provides the basis for overcoming poverty and lifting living standards. But for growth to be sustained and inclusive, its benefits must reach all people.
While strong economic growth is necessary for economic development, it is not always sufficient.
Over the past few decades, growth has raised living standards and provided job opportunities, lifting millions out of extreme poverty. But, we have also seen a flip side. Inequality has risen in several advanced economies and remains stubbornly high in many that are still developing. This worries policymakers everywhere for good reason. Research at the IMF and elsewhere makes it clear […]
View Original: Growth that reaches everyone: facts, factors, tools
Shattered: Inside Hillary Clinton’s Doomed Campaign
Amie Parnes and Jonathan Allen
This article appears in the Fall 2017 issue of The American Prospect magazine. Subscribe here . Hillary Clinton’s tragic 2016 campaign faced withering criticism in the press, social media, and now, in Jonathan Allen and Amie Parnes’s inside account, Shattered . From my vantage point as lead pollster for the Democratic nominees in 1992 and 2000, part of the closing clutch of pollsters in 2004, and invited noodge in 2016, I have little quarrel with the harshest of these criticisms. Malpractice and arrogance contributed mightily […]
View Original: How She Lost
One of the defining features of the “American Dream” is the ability to succeed despite being born to disadvantaged circumstances. However, growing up to be better off than one’s parents – upward absolute intergenerational mobility – appears to be a fading experience for many Americans in recent decades and one that varies widely across the country.
In “ Rural dreams: Upward mobility in America’s countryside ,” (PDF) Eleanor Krause and Richard Reeves build off an earlier examination of the rates of social mobility across the country by Raj Chetty and his colleagues.
While most of the research on geographical variations in […]
View Original: Rural dreams: Upward mobility in America’s countryside
Uber is having a negative impact on public transport in the US, according to Transurban chief executive Scott Charlton. David Rowe Tony Boyd When Transurban chief executive Scott Charlton released full-year profit results on Tuesday he pulled out his crystal ball and talked about the future of transport.
In an interview with Chanticleer he covered a range of topics including Uber’s impact on public transport, the shift to self-driving cars, dynamic pricing on toll roads, the imminent arrival of mobile GPS tolling and the favourable environment for infrastructure investment in Australia.
Transurban released full-year results largely in line with expectations. […]
View Original: Transurban’s Scott Charlton on the future of transport
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 […]
View Original: Escaping Poverty Requires Almost 20 Years With Nearly Nothing Going Wrong