Today the U.S. Census Bureau released its annual report on poverty rates through 2018. The overall rate of 11.8% for 2018 was a mark of continued improvement from the 15% recorded from 2010-12 due to the Great Recession (blue line in the chart). There was also continued improvement to the rate of children in poverty … Continue reading »
One immediate benefit of winning the Wolf Prize was receiving an invitation to the World Laureates Sanya Forum in China. This meeting hosted 21 Nobel Prize, Fields Medal, Turing Award, and/or Wolf Prize laureates, as well as leading Chinese scientists. Sanya is China’s Hawaii, with tropical weather, beautiful beaches and splendid resorts, where we enjoyed … Continue reading »
Co-authored with Simon Sallstrom, research coordinator for UC Berkeley’s Sustainable Shared-Prosperity Policy Index The candidates in the 2020 U.S. presidential race are proposing an array of economic policies frequently described as either free-market or socialist. These labels often confuse the American public. In particular, capitalism is widely — and wrongly — understood to be synonymous … Continue reading »
I am frequently asked whether students should work before going to graduate school. Of course, no single answer fits all, but I owe much of my success to the experience I gained working before graduate school. I grew up in a low-income family in Israel and went to a warm and friendly neighborhood school, then … Continue reading »
I returned from Morocco, where I was asked at a conference, “Does behavioral economics make optimization models obsolete?” The message of some publications may be that behavioral economics is a substitute for ‘traditional’ economics and that it more accurately resembles humans rather than ‘econs’ that are the subject of traditional theory. Some may infer that … Continue reading »
Amazon’s decision to cancel its plans in New York City was actually the second time that New York missed its chance to host Amazon headquarters. The first time was in 1994, and what happened then informs what might happen next. It was the beginning of the internet era, and a 30-year-old Jeff Bezos was living in … Continue reading »
This CWED VIDEO SHORT puts trends in teacher pay into perspective. Teacher strikes have brought much-needed attention to public education. Chronic under-funding has resulted in constant teacher shortages, outdated books, a lack of nurses and other staff, and lagging teacher pay in many school districts across the country. In this post I focus on trends … Continue reading »
Alexandria Ocasio-Cortez has kick-started a much-needed debate about taxes. But the debate, so far, has been misplaced. It’s obvious that the affluent — who’ve seen their earnings boom since 1980 while their taxes fell — can contribute more to the public coffers. And given the revenue needs of the country, it is necessary.
But that’s not the fundamental reason higher top marginal income tax rates are desirable. Their root justification is not about collecting revenue. It is about regulating inequality and the market economy. It is also about safeguarding democracy against oligarchy.
Co-authored by Byron Villacis On the corner of a bustling, working-class neighborhood in Mexico City, Maria González* has run a small photography business for years. Recently, she took out a bank loan to purchase a new digital camera and printer that enabled her to produce high-quality images and deliver them at a rapid speed. … Continue reading »
Co-authored by Representative Sander Levin (D-Michigan) Now that Canada has joined a revised North American Free Trade Agreement (NAFTA), renamed the US-Mexico-Canada Agreement (USMCA), we must not lose sight of the central problem that any new accord must address: the outsourcing of U.S. industrial jobs to Mexico’s system of suppressed wages. There have been efforts by … Continue reading »
I have always wanted to visit Ireland but had never found a reason to go. So, I was excited when Dr. Mary Ryan, from the Agriculture and Food Authority in Ireland, invited me to give a talk at the European Association of Agricultural Economists’ meeting in Galway in western Ireland. I had a fascinating week … Continue reading »
Full-brief here It has been well over a decade since the economy tumbled into what is now dubbed the Great Recession — reflecting the historical severity and swiftness of the downturn. The recession officially lasted from December 2007 through June 2009. However, the economy under-performed for nearly a decade as the output gap — GDP … Continue reading »
DST can coordinate societal shifts to better use of daylight…but at a cost. You would think most states have more pressing issues to confront these days, but legislation on the measurement of time is one of the perennial favorites in our nation’s legislatures. There is always someone passionate about the horrible costs or enormous benefits … Continue reading »
We hosted our third Agrifood Supply Chain Conference on April 18 and 19 together with Solidaridad and other wonderful sponsors. The conference was hosted at the Energy Biosciences Institute (EBI) building in Berkeley, which houses cutting-edge institutions – the EBI and Innovative Genomics Initiative – that create new technologies affecting supply chains around the globe. … Continue reading »
You know their names: Emma Gonzalez (age 18); David Hogg (age 18); Naomi Wadler (age 11); Yolanda Renee King (age 9). These young people, and many more, stand at podiums to eloquently, outspokenly and loudly demand tighter gun control legislation from our political leaders following the Marjory Stoneman Douglas High School shooting that left 17 … Continue reading »
Buying stuff can make you happy for a short time. But you will revert to needing another happiness boost by buying even more stuff. We can, however, replace the boom and bust of a consumption-driven search for satisfaction with lives that are more fulfilling and economically sustainable.
Most people assume that when they leave a tip at a restaurant, that money goes to the person who performed the work. Or perhaps the money is pooled with other tips and divvied up among tipped workers at the restaurant. The Trump administration doesn’t agree. In fact, the Labor Department believes employers ought to be … Continue reading »
The most frequently cited result in the entire research literature on overconfidence comes from a 1981 paper published by the Swedish psychologist Ola Svenson.(1) Svenson asked people in the United States and in Sweden how they thought their driving abilities stacked up against other drivers. Most scholars cite Svenson’s result as showing that the majority … Continue reading »
By Gabriel Zucman and Emmanuel Saez This blog is cross-posted from the Berkeley Opportunity Lab and the Washington Center for Equitable Growth. The tax plan released by Republicans in Congress and praised by President Trump is a remarkable document in many ways, but most notably in that it achieves just the opposite of its stated goal. Presented … Continue reading »
By Justine Marcus and Philip Verma The Bay Area is still reeling from the devastation of the recent fires in Napa and Sonoma counties, which tragically took the lives of 43 people and forced over 100,000 to evacuate their homes. The fire destroyed an estimated 8,900 buildings, and officials report that 5 percent of Santa Rosa’s housing … Continue reading »