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Is the American Dream Alive or Dead?

March 24, 2017 ·  · Topic: Economic Mobility  · Relevance: not sure


Summary

The 2016 election exposed deep social, geographic, and economic rifts crossing the United States. Since November, a flurry of new research into economic mobility and income inequality has added to our understanding of these divides. Now, EIG offers its latest contribution to the discussion. We have joined county-level data from our Distressed Communities Index (DCI) with the economic mobility estimates created by Raj Chetty’s team at Harvard’s Equality of Opportunity Project (EOP) to examine the relationship between economic well-being (as measured by the DCI) and economic opportunity (as measured by the EOP) in communities across the United […]

How Broadway Play ‘Sweat’ Tells the Personal Stories Behind the News

March 24, 2017 ·  · Topic: Economic Mobility  · Relevance: not sure

Sweat Broadway

It took six years for Lynn Nottage ’s play “ Sweat ” to make it to Broadway — but somehow, it feels as up-to-the-minute as the latest New York Times notification on your smartphone.

Set in Reading, Penn., and shifting between scenes set in 2000 and in 2008, “Sweat” chronicles the strains placed on a group of blue-collar friends when their jobs at the local factory are threatened. Despite a long development process that began in 2011, the play, which opens March 26 at Broadway’s Studio 54, addresses issues of economic inequality and racial fracturing that now make it a […]

The state, inequality and the politics of economic ideas: 3 blind spots in shadow banking

March 24, 2017 ·  · Topic: Economic Mobility  · Relevance: bad


Shadow banking has become a systemic pillar of global finance. A typical map shows a complex network of shadow entities such as highly levered off-balance-sheet vehicles, broker-dealers, private equity firms, money market funds or hedge funds. Yet (large) regulated banks also moved in the shadows, driven by a combination of yield, regulatory and tax arbitrage in order to engage in securitisation (or transformation of loans into securities that could be traded) and repo markets (wholesale markets where financial institutions raise funding using securities as collateral).

Shadow banking has proved to be extremely dangerous. Between 2007 and 2011, it wreaked havoc […]

A Predictable Predicament for Hong Kong

March 24, 2017 ·  · Topic: Economic Mobility  · Relevance: bad


In the two decades since the United Kingdom turned its former colony over to China, Hong Kong has begun to lose some of its prestige. Summary

From the eurozone to South Korea, elections are sweeping the world, bringing with them a high likelihood of dramatic policy change. But when Hong Kong’s 1,200-member election committee convenes to vote on the city’s next chief executive March 26, it will likely usher in more of the same. The Chinese government has extensive influence in the city’s electoral system under the Basic Law, which gives it the prerogative to screen candidates, steer the […]

Preparing youths for a tough job market must be made a national agenda

March 24, 2017 ·  · Topic: Economic Mobility  · Relevance: not sure

Bank Negara said socio-economic developments in the past few years have dramatically worsened the state of youth unemployment globally.  The twin developments of persistent high youth unemployment and rising income inequality, it said, could constrain social mobility, and lead to increasing dissatisfaction among the people.

Bank Negara said socio-economic developments in the past few years have dramatically worsened the state of youth unemployment globally. The twin developments of persistent high youth unemployment and rising income inequality, it said, could constrain social mobility, and lead to increasing dissatisfaction among the people. PETALING JAYA: Tackling youth unemployment must be made a permanent national agenda with the policies orientated towards equipping the country’s younger generation for an increasingly tough job market.

Bank Negara said socio-economic developments in the past few years have dramatically worsened the state of youth unemployment globally.

The twin developments of persistent high youth unemployment and […]

Daily Katrina: Education is a Three Front War

March 24, 2017 ·  · Topic: Economic Mobility  · Relevance: not sure


The devastating government inaction that characterized Hurricane Katrina is present in our educational system today. Realizing the vision of equal opportunity requires coordinated action on three fronts: the school, the home, and the community. To deny the severity of the problem in any one of these spheres is a recipe for defeat. One hundred and twenty years after Plessy v. Ferguson and sixty three years after Brown v. Board, schools in America are more separate and unequal than ever. In some zip codes in America, kids can walk safely to and from school. In others they can not. In […]

Sen. Bill Cassidy, Atlanta Mayor Kasim Reed, and economist Heather Boushey are joining the Vox Conversations unconference

March 23, 2017 ·  · Topic: Economic Mobility  · Relevance: bad


We’re excited to announce our first round of featured participants for Vox Conversations, our two-day unconference series that unites voices around the country to talk about new ideas for the future.

With President Trump’s 100th day in office approaching, we looked for speakers who could address the real-world implications of the administration’s initiatives and policies in Washington and beyond.

Our program will explore the health care debate and try to find solutions on both sides of the aisle; we’ll dive into America’s cities and hear how leaders are leveraging their resources on a local level; and we’ll get an inside view […]

The Geography of Populist Discontent

March 23, 2017 ·  · Topic: Economic Mobility  · Relevance: not sure


Donald Trump in America, Rob Ford in Canada, Brexit in the U.K., and (maybe) Marine Le Pen in France— as I wrote on Tuesday , populism is tied to a cultural backlash reinforced by our increasingly uneven geography. These growing divides generate the anger and backlash that translates into backward-looking, reactionary populist politics.

The economic strategies of populists are territorial: walls, immigration restrictions, and rules based on national origin. But populism’s rise in Europe as well as the United States is less a product of economic inequality per se or even of economic anxiety; it is a cultural backlash against […]

Major Economic & Job Creation Boost Expected from Kansas Highway & Bridge Infrastructure Increase

March 23, 2017 ·  · Topic: Economic Mobility  · Relevance: bad


(WASHINGTON) A new report finds that an annual $264 million increase in state highway and bridge infrastructure investment would support nearly $600 million in economic activity throughout all sectors of the Kansas economy. The additional demand, in turn, would also support or create 5,000 jobs—with over half being in sectors outside of the construction industry.

The analysis, conducted by the American Road & Transportation Builders Association’s (ARTBA) Chief Economist Dr. Alison Premo Black shows how the impacts of transportation capital investments trigger immediate economic activity, including cost savings for drivers, and new and sustained jobs, while yielding long-lived capital assets […]

Focusing on Mobility Not Travel Mode for Better Economic Growth

March 23, 2017 ·  · Topic: Economic Mobility  · Relevance: bad

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The last article outlined research on job access by cars, transit and walking by the University of Minnesota Accessibility Observatory that assesses mobility by car, transit and walking in 49 of the nation’s largest metropolitan areas. Of course, it is to be expected that the metropolitan areas will have the largest number of jobs accessible to the average employee simply by virtue of their larger labor markets.

Indeed, smaller, but important major labor markets, from Grand Rapids and Buffalo to Philadelphia and Washington seem unlikely to ever rival the job numbers in metropolitan areas like New York and Los Angeles.

Researchers […]