In a recent column in the Atlantic called “Building the Wealth of the Poor and Middle Class,” Noah Smith suggests a few ways to improve the unequal distribution of wealth in America. He notes that “one obvious thing we could do to make wealth more equal is – surprise! -redistribution…Giving the poor … More >
Differences in attitudes towards welfare and redistribution are an important source of political tension, especially during recessions. What factors shape people’s attitudes towards welfare and redistribution?
There are two main strands of thought on this question in the literature. One strand emphasizes economic self-interest as a key determinant of attitudes toward … More >
Today, Pope Benedict XVI announced that he will resign from his ministry at the end of the month, citing declining strength in his advanced age. His Papacy began in 2005 and many of his written messages reflect upon the global economic and financial crisis that characterized the world to which he ministered.
Most notably, his … More >
Governor Jeremy Stein of the St. Louis Federal Reserve gave a speech on February 7 called “Overheating in Credit Markets: Origins, Measurement, and Policy Responses.” Overheating is a term he uses to describe a credit market with low interest rates, lax lending standards, and high risk-taking by investors “reaching for yield.” The … More >
Rick Santorum’s recent criticism of President Obama’s call to make it possible for all Americans to advance their education or training as elitist snobbery makes me wonder what the GOP candidate would say to Nancy Deanda.
Before taking her married name, Nancy Miramontes was born in Scotts Bluff, Nebraska in 1925 … More >
On September 17, a group of US citizens inspired by the successes of public protest in other countries occupied public space on Wall Street, the location in Manhattan that has come to stand for the excesses of the financial sector.
Not only does Wall Street stand for the banks that fueled … More >
Last week the U.S. Census Bureau released its annual report on income, poverty, and health insurance coverage for 2010. Data from the report represents that of the first full year into our economic recovery (which official started in June 2009). It is no surprise, given the focus of this report … More >
Today, President Obama unveils his jobs plan.
He’ll choose either Plan A or Plan B.
Plan A would be big enough to restart the economy (now barely growing) and reduce unemployment (which continues to grow). That means spending another trillion dollars over the next two years – rebuilding the nation’s infrastructure, creating … More >
Next week President Obama will unveil his jobs plan and today’s employment report won’t make it easier for him as job growth was zilch in August.
The post-Labor Day speech will introduce his strategy to promote economic growth and create jobs. The White House has been tight lipped about the details … More >