Tag Archives: wealth

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


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 […]

Reaching Beyond the Money Bubble

Children in an after-school program on the playground at a recreation center in the Thomasville Heights neighborhood in Atlanta. Angie Allen moved to Atlanta in 1971 and began working as an equities trader at Bear Stearns. She thrived in finance and was paid accordingly. In 1990, she co-founded an investment management firm, Globalt Investments, and sold it 12 years later to Synovus Financial Corporation.

Given her professional success, she lived in the city’s nicest neighborhoods. For a while she had a home in Buckhead, in a desirable northern section of Atlanta. Now she and her husband, Sam, live in Ansely […]

Inequality, economic models and the Russian Revolution

Protest at the European Commission, February 2016 (Credit: Joel Schalit/Flickr)

Protest at the European Commission, February 2016 (Credit: Joel Schalit/Flickr) Utopian socialists believed that socialism is inevitable because it is a more rational system for organising production and life, a system more in line with the ‘good’ nature of human beings.

Marxism rejected this reasoning, replacing it with what is known as historical materialism: social systems, it argued, emerge, develop, and die not because they correspond more or less to the ‘natural’ aspirations of the people, but because they become more or less competitive in the process of historical evolution – a version of social Darwinism applied not to individuals, […]

Latino elites are paying the California dream forward

Jody Agius Vallejo, University of Southern California – Dornsife College of Letters, Arts and Sciences

(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)

Jody Agius Vallejo, University of Southern California – Dornsife College of Letters, Arts and Sciences(THE CONVERSATION) American Latino economic elites have incomes and wealth in the top 5 percent of earners. Some own multi-million-dollar companies or work as corporate executives. Latino politicians – like Kevin De León, who is serving as California Senate president while running for U.S. Senate, and California’s Attorney General Xavier Becerra – are especially visible in […]

Calling All Entrepreneurs to Rekindle the American Dream

Calling All Entrepreneurs to Rekindle the American Dream

By Gonzalo Schwarz, CEO and founder of the Archbridge Institute

The best known definition of the American Dream is by James Truslow Adams in his book The Epic of America :“ … that dream of a land in which life should be better and richer and fuller for every man, with opportunity for each according to his ability or achievement. … It is not a dream of motor cars and high wages merely, but a dream of a social order in which each man and each woman shall be able to attain […]

Inequality and Violence

Austrian historian Walter Scheidel has a new book, The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century . The thesis, according to the reviewers anyway, is that the only thing that can really dent rampant and long-lasting economic inequality is violence. Reduction in inequality has been, writes Scheidel, “only ever brought forth in sorrow”

I have written about this question before, in the context of Thomas Piketty’s study of economic history. It does seem to be true that in times of peace and prosperity the rich gradually get control of a larger […]

Archbridge Insider November 2017

Barriers to Economic Mobility

One of the biggest barriers to economic mobility is the impact of proliferating occupational licensing requirements. This has been documented by the Institute for Justice and was discussed as one barrier to economic mobility by Richard V. Reeves of the Brookings Institution in his recent book Dream Hoarders . However, the exact relationship between occupational licensing and economic mobility has not been thoroughly explored. To fill this research gap, our newly released Policy & Analysis piece, from authors Brian Meehan, Edward Timmons, and Andrew Meehan, does just that. The authors link changes in mid- to […]

On genetics and social mobility: why Toby Young’s structural inequality argument is not science

Is intelligence determined by genetic factors? Questions such as this are regularly being debated, a recent example having been an article by Toby Young on what schools can be expected to achieve in light of scientific evidence on cognitive ability. Leon Feinstein explains what science actually says, and, most importantly, what it doesn’t say about heritability.

In October 2017 Teach First published a blog stating that genes place very substantial limitations on the role of schools. The blog was pulled the next day. The author was Toby Young, one of the leading figures in the Free Schools movement, and […]

State schools must become engines of economic mobility again: New York State is onto something

Serve low-income students

Serve low-income students (Albans, Michael) For decades, America’s public flagship universities offered a reasonably priced shot at higher education for millions of bright students in the states where they were brought up. Sadly, those days are waning, as the race for affluent out-of-state students begins to crush the ambitions of students with financial need-and, may soon, deprive our nation of their talents.

Amid ongoing debate about former U.S. Secretary of Education William Bennett’s hypothesis — that rising student aid spurs rising tuition — one thing is clear: Students willing to pay full freight are a prized commodity for American colleges […]

Economic Mobility in DC Lower Than Neighboring Counties

It’s a conundrum: DC’s economy is growing at a healthy clip, yet not everyone is benefiting. Poverty remains high almost 10 years into an economic recovery, and the gap in unemployment rates between Black residents and White residents is growing . This shouldn’t be happening, right?

Unfortunately, these disappointing results are predictable, given the District’s high level of racial segregation, and the high rate of income inequality. Research confirms that both contribute to a low likelihood that children who grow up in poverty will end up better off as adults. In fact, DC children in the lowest 25 percent of […]