Tag Archives: wealth

Effects of income inequality on poverty

Greater income inequality can increase the poverty rate, as more be a lot more transfers to offset inequality’s poverty-inducing impact. Policies that require welfare HOW SHOULD WE ASSESS INCOME INEQUALITY’S EFFECTS? The most informative test, which I’ll use here, is to see whether changes in income inequality Oct 14, 2015 The Effect of Billionaire Wealth, Income Distribution, and Poverty that initial poverty rather than income inequality affects economic growth of Mar 28, 2017 Poverty and income inequality are extreme issues that still exist in Malaysia. Policies that require welfare Use Forbes’ list of billionaires to derive a global measure […]

Tax Reform, Tuition Waivers, and Economic Mobility

“Before any great things are accomplished, a memorable change must be made in the system of education and knowledge must become so general as to raise the lower ranks of society nearer to the higher. The education of a nation instead of being confined to a few schools and universities for the instruction of the few, must become the national care and expense for the formation of the many.”—John Adams There has been much ado recently (including on Surly ) about the fact that the current version of tax reform before the House of Representatives repeals Section 117(d) of […]

A country divided by a great gulf


The voters who swung the election remain out of Democrats’ reach, says Harriet Baber

Polar opposites: Trump supporters and opponents argue at Sterling Heights, Michigan, earlier this year WHEN the smoke cleared after the United States presidential election, it was easy to see exactly what had happened: Democrats voted for Democrats, Republicans voted for Republicans, and the white working-class tipped the balance to Trump ( News, 11 November 2016 ).

The question was why. Why did the white working-class vote for Republicans, the party of plutocrats, against their own economic interests?The received view is that they were duped by […]

CATO institute: “Wealth inequality has a negative relationship with economic growth

Our first finding is that wealth inequality has a negative, statistically significant relationship with economic growth, while the effect of income inequality is insignificant or only borderline significant, and the effect of poverty is statistically insignificant in nearly all specifications. Hence, using an encompassing model, we show that in head-on comparisons it is wealth inequality, rather than income inequality or poverty, that is significantly related to economic growth. Does Wealth Inequality Matter for Growth? The Effect of Billionaire Wealth, Income Distribution, and Poverty

(that must have been hard for them to admit)

Also of note: […]

CHRIS WILLE: Real estate market trend currently on solid ground


Hide caption An exhaustive analysis of emerging trends in the real estate market indicates prosperity for the industry will continue for the foreseeable future — with a caveat. Prudence on investments ranks high after the housing bust a decade ago.

The report, “Emerging Trends in Real Estate 2018,” by the Urban Land Institute and PricewaterhouseCoopers, updates previous in-depth studies based on myriad interviews, surveys and focus groups of knowledgeable industry insiders. Recently released, the 39th edition lists all the respondents across seven pages, an impressive indication of the depth of the research.

One major takeaway besides a solid performance in the […]

The Paradise Papers Are Just a Glimpse at the Unreal Wealth Gap


A new report on spiraling inequality in America is even more concerning given what the Paradise Papers showed us about how good rich people are at hiding money.

Matt Taylor

Nov 9 2017, 6:03am Photo via Shutterstock/Image by Lia KantrowitzSix years after Occupy Wall Street got many of us talking, however briefly, about the yawning gap between rich and poor, economic inequality still propels American life. Donald Trump became president in part because he spoke to the large number of white Americans who felt economically and culturally adrift—and believed an out-of-touch elite was screwing them over. Of course, […]

Revisiting Harvard and the American Dream


Harvard University campus (Elise Amendola/AP) Like many others, we have closely followed and admired the important work of a former Harvard colleague, Raj Chetty. With access to millions of anonymous tax records, Chetty and his team at the Equality of Opportunity Project have powerfully confirmed what many have long feared about declining upward mobility in America.

Chetty’s new insights about the role of U.S. colleges and universities as engines for intergenerational mobility should be considered especially relevant for us here at Harvard and places like it. The team’s latest working paper , released alongside a set of publicly available mobility […]

New College Ranker Claims Others Have Bias Toward Wealthy


A new college ranking system reflects increasing complaints about previous listings as being biased toward the wealthy. Article Tags As college rankings grow in number, criticism has increased. The grandfather of all college rankings is the annual listings of best colleges by U.S. News and World Report , which began in 1987. The Wall Street Journal (working with Times Higher Education ) and Forbes also rate colleges.

The online magazine Politico took aim at the U.S. News rankings in September. “A Politico review shows that the criteria used in the U.S. News rankings—a measure so closely followed in the academic […]

Charlotte, North Carolina: A City with One of the Lowest Economic Mobility Rates in the Nation

Ethan Ehrenhaft-

In 2013, Harvard University, Stanford University, and the University of California- Berkeley released findings from their joint Equality of Opportunity Project. The project looked at causes and potential solutions for cases of intergenerational poverty and inequality throughout the United States. Charlotte, Davidson’s most prominent urban neighbor, did not fare well in the study.

According to the findings, out of the country’s 50 largest cities, Charlotte ranked last for economic mobility. If born into the bottom 20th income percentile, a Charlottean had just a 4.4% likelihood of making it to the top 20%.Impoverished individuals in some other major cities fared […]

The century gap: Low economic mobility for black men, 150 years after the Civil War

Social-Mobility

Editor’s Note:

On Tuesday, September 5th, the Brookings Institution’s Center on Children and Families and the Race, Prosperity, and Inclusion initiative will host J.D. Vance, author of Hillbilly Elegy, and William Julius William, author of The Truly Disadvantaged, to further explore the race and class divide in America. To register for this event, please click here.

The legacy of American racism is dominating the headlines again. One of the arguments used against the removal or relocation of Confederate symbols is that “it is simply part of our history”. This is not the case. The results of the enslavement, disenfranchisement […]