Tag Archives: wealth

A tale of two Canadas: Where you grew up affects your income in adulthood


In Canada, geography is destiny: Your financial future, to a surprisingly large degree, depends on the place in Canada where you happen to grow up.

That reality is revealed on this map and our accompanying set of interactive graphics, produced using a new analysis of millions of Canadians’ income data , the result of years of work by economist Miles Corak.

His study charts intergenerational economic mobility – that is, the chance that people who spent their childhood in that location ended up, as adults, higher on the income and economic-status ranking than their parents. If a region is bright green, […]

It’s time to move beyond the tired income inequality debate


File photo(Zinkevych/Getty Images)

Income inequality is an animating issue for so many celebrities, politicians, and other public figures these days. One can’t seem to turn on the television, read a newspaper, or check social media without claims about how rising inequality is a socio-economic ill that must be remedied. More redistribution in the form of higher taxes on the wealthy is always the preferred cure.

Yet new research by three leading psychologists from Yale University shows that the general public is less fussed about income inequality than elite commentators. What concerns people aren’t unequal economic outcomes but rather the perception of […]

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National Review See It Geography Politics Corner The Corner | National Review Online See more Data Brain Budget What Do OECD Data Really Show About U.S. Taxes and Reducing Inequality? — Center on Budget and Policy Priorities See more Still applicable Get Rich or Die Younger: The Shrinking Life Spans of Poor U.S. Women It would still be a mistake to focus on growth and let inequality take care of itself because inequality may not only be ethically undesirable but also because the resulting growth may be low and unsustainable. And second, there is surprisingly little evidence for the […]

Inescapable inequality?


Inequality has become a deeply rooted feature of social and economic landscapes around the world

I’ve been in South Africa and the US recently. From geography to development both countries are, of course, very different. But they do share some similarities. Take inequality, for example. This issue – which is by no means limited to their shores – has become a deeply rooted feature of their social and economic landscapes, one that proven stubbornly resistant to attempted remedies.

Inequality has many invidious consequences – too many to list here. This is because it is one of the few issues […]

The Aristocracy That Let Me In


Via WikiCommons . Over the past seven years, I received over $330,000 of need-based financial aid, and it gave me a one-way ticket to the new American elite.

I grew up attending public schools in Iowa and Ohio until increasing frustration with my schooling led my family and me to reply to a flier that we received alerting us to the existence of boarding schools. Up until then, I believed boarding schools only existed in England; I had never heard of “Exeter” or “Andover.” I applied to four schools and chose to attend the Middlesex School of Concord, Massachusetts, despite […]

IBS Policy Paper From research to policy

I S H I G H I N E Q U A L I T Y A N I S S U E I N P O L A N D ?

Michał Brzeziński

Main messageGiven its economic development level, Poland is not a country of striking economic inequality. While income inequality in Poland is high compared to wealthier EU states, Poland ranks more favourably in that respect than other countries of similar affluence or those undergoing economic transformation. Income inequality has not shown a rising trend in recent years. Its high level is mostly due to considerable wage dispersion, in […]

BY JULIA B. ISAACS, The Brookings Institution

INTERNATIONAL COMPARISONS OF

ECONOMIC MOBILITY

reedom from the constraints of aristocratic society lured many of our ancestors tocross the ocean to the New World. European visitors such as Alexis de Tocqueville marveled at the economic dynamism and social mobility of American society in the first half of the nineteenth century.1 More recently, immigrants continue to cross our boundaries in search of the promise of the American Dream. Given this history, many Americans believe that the opportunities for moving up the economic ladder are greater in the United States than they arein other countries. But is this widely held assumption of greater […]

Book Review: Toxic Inequality

I just returned from an awesome family vacation in Peru. Although certainly not the highlight of the trip, six plane flights and two lengthy train rides made for a lot of reading. I finished Shattered , the inside look at the Clinton 2016 campaign, then read Locking Up Our Own , an analysis of how black leadership in Washington, DC, helped pave the way to mass incarceration of black Americans, and Toxic Inequality , by Thomas Shapiro, which, of all the books I’ve read on the subject of economic inequality, is one of the very best in terms of […]

The Hoarding of the American Dream


There’s a certain type of financial confessional that has had a way of going viral in the post-recession era. The University of Chicago law professor complaining his family was barely keeping their heads above water on $250,000 a year . This hypothetical family of three in San Francisco making $200,000, enjoying vacations to Maui, and living hand-to-mouth. This real New York couple making a six figures and merely “ scraping by .”

In all of these viral posts, denizens of the upper-middle class were attempting to make the case for their middle classness. Taxes are expensive. Cities are expensive. Tuition […]

Meet Camille Busette, new director of the Race, Place, and Economic Mobility Initiative

Camille Busette, Senior Fellow, Director of Place, Race, and Economic Mobility

Camille Busette I’m Camille Busette, I’m a senior fellow in Governance Studies and I head up the new Race, Place, and Economic Mobility initiative here at Brookings.

Q: Where did you grow up?

A: I grew up in a variety of places actually, which I think has made me very much who I am. I was born in Los Angeles. I grew up in New York City, and then toward the end of high school my family moved to Sacramento, California where I finished up high school; and then I went on to University of California, Berkeley for college.But […]