Tag Archives: wealth

Military Economy-Corollary 8

Military spending not only hurts economic growth as the last press release found, but many interesting corollaries spring from that central finding.

The 8 Indirect Military Economics Corollaries and dates:

Nobel Economics Prize Perversion 12-29-16Low Level Military Defense 12-5-15Creating Economic Model, 28 Steps 2-14-15Military Money and Power 8-10-14Military States Political Dominance 4-26-14Banking and the Military 1-2-14What Does Healthcare Have to Do with Empire? 12-13-13Why Were Murder and Crime Cut in Half in the Nineties? 12-5-1 3 Nobel Economics Prize Perversion 12-29-16 This shows how economists do not even believe it’s possible to develop a science of economics. I […]

Is Higher Education the Gateway to the Middle Class?


Higher education has long been described as the gateway to the middle class. Particularly for low-income students, postsecondary education is described as a game changer, even while the exact nature of this relationship remains hard to pin down conclusively. But groundbreaking new research from Raj Chetty and his colleagues at Stanford University, Mobility Report Cards: The Role of Colleges in Intergenerational Mobility, offers a major step forward in our understanding of higher education and economic mobility in the United States. This work provides the best available evidence that higher education can help students climb the economic ladder, and it […]

Financial Capital: Moving Up The Ladder In The Modern Economy


The last, and most obvious, installment in our analysis of economic capital’s effect on realizing the American Dream explores financial capital. Financial Capital: The zeroes in your savings account

In the context of intergenerational mobility, referring to how children go up (or down) the economic ladder compared to their parents, financial capital deals with how many zeroes are in the family bank account, including homes and other physical assets that can be passed down. Our family’s wealth is the most important determinant in how financially secure we become.

If there are enough zeroes in the family bank account (assuming […]

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 […]

Universities: ‘the collateral damage of blood and soil nationalist politics’

Divided

The massification of higher education has made it a polarising issue, says Simon Marginson Share on twitter

Share on facebook

Share on linkedin It is a crucial time for global higher education, in an extraordinary political landscape that no one saw coming a year ago. Universities, science, experts, mobile foreigners, mobile locals: all are on the alt-right blacklist.Remarkably, the toxic, unresolvable debate between global mobility and national monoculture has not only paused the evolution of Europe, it is now more potent than the goal of economic prosperity, which a year ago ruled policy in the UK […]

How America Gave Up on Change

mar17-03--200341217-001

In his last book, economist Tyler Cowen wrote about how machine intelligence could change the world. In his new book, The Complacent Class , he writes about the forces that prevent change from happening. In particular, he argues that America has become more averse to change in recent decades, and that this has transformed our work, our leisure, and our neighborhoods.

I asked Cowen to explain his thesis and what it means for our companies, our careers, and even our politics. The conversation was edited for clarity and concision.

HBR: In the book, you write, “Americans are in fact working […]

Bootstrap myth exposed: White inheritance key driver in racial wealth gap


Madison365 Professor Thomas Shapiro “Blacks/Latinos/non-whites don’t value education like whites do. They don’t work as hard as whites do. They spend more than whites do on junk,” says your standard white guy at the end of the bar dissecting the large racial wealth gap in the United States. “They just need to get off their butts and bootstrap it up like I did!”

However, the old tried-and-true American bootstrap lore took a big hit this month with a study that shows most families living with the material comfort and range of opportunities normally associated with middle-class status have obtained them […]

Lehigh Valley colleges: Who has the richest students on campus?


Students attending America’s most elite colleges are wealthier than experts realized, a new study that looks at millions of anonymous tax filings, tuition records and earnings has found.

Some schools are much more economically segregated than previously thought, while other colleges offer students income mobility.

The New York Times’ Upshot has created a really cool data tool to sift through all of the numbers.At 38 U.S. colleges more students come from families at the top 1 percent of the income scale than from the entire bottom 60 percent of that scale. And two Lehigh Valley colleges landed in that list.Find out […]

Housing costs aggravate area’s inequality, report says

BOSTON, MA - 11/05/2015: AERIAL VIEWS Interior view of an apartment at 100 Pier 4, the new apartment building. Construction moves on at a fast pace in the Seaport District. (David L Ryan/Globe Staff Photo) SECTION: BUSINESS TOPIC 03seaporthousing(1)

BOSTON, MA – 11/05/2015: AERIAL VIEWS Interior view of an apartment at 100 Pier 4, the new apartment building. Construction moves on at a fast pace in the Seaport District. (David L Ryan/Globe Staff Photo) SECTION: BUSINESS TOPIC 03seaporthousing(1) Even as Greater Boston becomes more racially diverse, the high cost of housing has left the region increasingly racially and economically segregated over the past five years, a report released Tuesday by a regional planning group said.

Although Greater Boston has made progress closing some gaps, in the health and education of children of color vast economic disparities persist and in […]

To understand Trump, learn from his voters


To make sense of Donald Trump’s emerging presidency, it helps to understand the social and economic discontent that put him in office. Harvard Professor Michael Sandel took a hard look at those concerns during a Tuesday afternoon lecture called “Why Trump? What Now?” Sandel argued that Trump’s rise reflected a populist backlash against “decades of rising inequality and a version of globalization that benefited those at the top but left ordinary people feeling disempowered.”

Addressing a full house at Harvard Law School’s Langdell Hall, Sandel first acknowledged the concerns of many of his listeners.

“Many people around the world worry that […]