Tag Archives: wealth

How the Government and Special Interests Thwart Economic Mobility


Everyone values economic mobility. In fact, the decline of mobility is one of the biggest complaints made by people who prefer government intervention in free markets. What some are starting to learn, however, is that government intervention is the chief obstacle to mobility. Lower-income people would benefit immeasurably from the scrapping of those interventions.

David Schleicher, an associate professor at Yale Law School, writes :

Over the last 40 years, we have gotten increasingly worse at allowing and encouraging people to move to the places where they will do their best economically. Economists from the Federal Reserve and elsewhere have concluded […]

More Black Men Need to Earn College Degrees

More Black Men Need to Earn College Degrees

(Image: iStock/Steve Debenport) I’ve been interviewing presidents of black medical schools lately. I recently interviewed the president of Meharry Medical College in Nashville, Tennessee, and wrote a post based on that interview that you can read here . I’m also excited to be writing up an article based on an interview I had with the president of Morehouse School of Medicine.

Both institutions are addressing the issue of enrolling more black men in med school.

But what about black women? As it turns out, black women are earning more college degrees (as are women in general). But because fewer black men […]

San Antonio Area: Toxic Inequality – Confronting the Racial Wealth Gap

Join San Antonio Area AFN and renowned sociologist Dr. Thomas M. Shapiro to discuss the ideas and findings in his new book, Toxic Inequality: How America’s Wealth Gap Destroys Mobility, Deepens the Racial Divide, and Threatens Our Future .

Since the Great Recession, most Americans’ standard of living has stagnated or declined. Economic inequality is at historic highs. But inequality’s impact differs by race; African Americans’ net wealth is just a tenth that of white Americans, and over recent decades, this gap has continued to widen. In our increasingly diverse nation, Shapiro argues wealth disparities must be understood in tandem […]

Wealth inequality has been widening for millennia

A flower seller looks for possible buyers at a seafront in Mumbai June 25, 2008. REUTERS/Arko Datta (INDIA)

Nothing new … the gap between rich and poor goes back hundreds of years, finds study The debate about social inequality across the world has intensified in the past few years.

In particular, the United Kingdom’s decision to leave the European Union and the election of Donald Trump as president of the United States have been seen as outpourings of rage by the “left behind" communities that feel ignored by powerful “elites”.

The argument was reignited by a vote in the US senate on 1 December to pass tax reforms that include scrapping inheritance taxes for the wealthiest and reducing corporation […]

SIDDIQUI: Tax cut plan doesn’t set good example for other nations


While in Saudi Arabia attending the seventh Nonprofit Development Forum, I was fascinated by reports that the Senate had made a deal on tax reform. In Saudi Arabia, I presented case studies on how the U.S. government works with the not-for-profit sector in service delivery. The hope was that the Saudi Arabians could use lessons learned as they developed a new yet rapidly growing sector in the quest to build a balanced economic system as part of Saudi Arabia Vision 2030.

As the day unfolded and I listened to amazing presentations and follow-up questions, I was struck by the search […]

Nation’s top 1 percent now have greater wealth than the bottom 90 percent


The wealth gap is growing faster than the income gap — and now, if all U.S. wealth is thought of as 100 slices of pie, the wealthiest one fifth of households would have 90.

The wealthiest 1 percent of American households own 40 percent of the country’s wealth, according to a new paper by economist Edward N. Woolf. That share is higher than it has been at any point since at least 1962, according to Woolf’s data, which comes from the federal Survey of Consumer Finances.

From 2013, the share of wealth owned by the 1 percent shot up by nearly […]

Black women are earning more college degrees, but that alone won’t close race gaps

Reeves_Education_Race_Gap1

There are wide, stubborn economic gaps between black and white households in the U.S. Why? Many factors are at work, of course, including lower rates of upward mobility , discrimination in the labor market , big differences in rates of incarceration , disparities in access to quality education , historic exclusion from home ownership , and so on.

College education is often seen as a powerful tool to close race gaps. But it is at best only a partial answer, for four reasons:

> the gap in college achievement is as wide as ever black Americans with a BA are […]

What Ancient Houses Tell Us About McMansions and Inequality

Archaeological ruins in the outline of a house, with trees and mountains in the background

A larger house in El Palmillo, a site in Oaxaca, Mexico. Photo: Linda Nicholas. It’s not hard to tell rich neighborhoods from poor neighborhoods. Wealthy parts of town generally have nicer cars, clean, well-groomed lawns, and, most strikingly, giant sprawling mansions. It’s nothing new: across cultures, wealth and power have been tied to large homes for thousands of years.

A group of scientists, including Field Museum anthropology curator Gary Feinman, recently explored the link between house sizes and inequality. Based on a sample of more than 60 cases, they discovered that on the whole, patterns of inequality in Eurasia over […]

N.C. Senators vote to ignore the poor, serve the rich


Richard Burr and Tom Tillis voted enthusiastically last week for the Senate tax bill. No hesitation on the home front. The North Carolina boys are all in for the McConnell-Trump knavery.

Burr and Tillis know, or should, the following. The United States is the wealthiest country on earth. It also has higher poverty, and especially, child poverty rates than any other advanced nation. It has the advanced world’s greatest income inequality – the largest gaps between rich and poor. It has among the worst economic mobility rates – if you’re born poor here, you are more apt to stay that […]

Richest one percent now owns two-fifths of America’s wealth, new study claims


Treasury Secretary Steven Mnuchin and his wife, Louise Linton, were widely ridiculed last month for posing with a sheet of dollar bills at the US Mint The wealthiest one percent of American households own 40 percent of the country’s wealth , according to a new paper by economist Edward N. Woolf. That share is higher than it has been at any point since at least 1962, according to Woolf’s data, which comes from the federal Survey of Consumer Finances.

From 2013, the share of wealth owned by the one percent shot up by nearly three percentage points. Wealth owned by […]