The impact of reduced earnings through layoffs, loss of employer sponsored health insurance and displacement due to the COVID-19 pandemic will fall disproportionately on low-wage workers, immigrants and workers of color, who are least able to absorb financial and health shocks.
During an unprecedented health crisis, Congress must bring urgency, energy and resources to support the early care and education industry.
For consumers, buying a gift certificate is a means to support their hairdresser, nail salon, restaurant or other local service. At the same time, if a business goes under, the consumer would have donated to a local business owner during their time of need.
Co-authored with Emmanuel Saez, professor of economics Coronavirus threatens the world’s economic life, and current proposals from governments around the globe are failing to match the scale of the crisis. Today, the chancellor, Rishi Sunak, [UK Chancellor of the Exchequer] announced £330 billion of loans and that some companies would not have to pay business … Continue reading »
In these very anxious times, it can be helpful to remember that the work we are all doing matters. Epidemiology is rightly at the front of everyone’s mind right now. But we should also be worried about the major effects that the Covid-19 pandemic will have beyond those directly infected. As a labor economist, I’m … Continue reading »
Berkeley’s annual Big Give launches today with the purpose of encouraging giving to Cal’s many academic schools. departments, and programs. With the increasing seriousness of the coronavirus, the presidential election, and a plunge in the stock market taking most of the bandwidth of Californians, we might hope that donors, large and small in net … Continue reading »
When I was young, I was fascinated by leaders like Churchill, Ben-Gurion, Gandhi, and even the two Roosevelts, who changed history. As I grew up, I realized that leadership occurs in business, academia, sports, and family life. When we started the BEAHRS Environmental Leadership Program, we targeted up-and-coming training leaders and needed to develop a … Continue reading »
Avoidance, social distancing and panic may have enormous economic consequences
The Democratic presidential candidates’ competing higher education plans got valuable airtime in the December debate. The fact that all of them are making affordable higher education a campaign issue is good news, but the fine print makes all the difference. Any proposal to spend federal dollars on higher education should concentrate on those who actually … Continue reading »
On January 7, 2020, the Trump administration launched another attack on integration. The Department of Housing and Urban Development (HUD) announced a new federal rule that would significantly redefine and roll back Obama-era regulations that were intended to attack the long-standing and unaddressed problem of residential racial segregation. The rule would redefine the duty to … Continue reading »
Co-authored with Sander Levin, a former Democratic Congressman from Michigan. Despite financial gains won by the United Auto Workers in a new contract that ended a nearly six-week-long strike against General Motors, the longest in a half-century, the deal will not rectify the major problem that has hurt American autoworkers and will continue to do … Continue reading »
For decades, liberals have called for government action to correct the excesses of the free market: progressive taxation; public health insurance; unemployment insurance; Social Security; and health, safety, and environmental regulations. The 2020 campaign — featuring proposals for higher taxes on the wealthy, Medicare-for-all, and the Green New Deal — is no exception. But some … Continue reading »
Republicans and even some Democrats are out to scare you about Medicare for All. They say it’s going to dismantle health care as we know it and it will cost way too much. Rubbish. The typical American family now spends $6,000 on health insurance premiums each year. Add in the co-payments and deductibles that doctors, … Continue reading »
Co-authored with Michael Reich, UC Berkeley economics professor Uber, Lyft, and DoorDash have unveiled their ballot initiative to undo historic worker protections enshrined in AB5, California’s new law that tightens the criteria for worker classification. The initiative claims drivers will receive a guaranteed pay equal to 120% of the minimum wage (that would be $15.60 … Continue reading »
And there’s only one choice here that will allow the democrats to win, Professor Robert Reich writes
Plans for Facebook’s proposed “stablecoin,” Libra, appear to be unraveling with the withdrawal of PayPal, Visa, Mastercard, Stripe, eBay, and Mercado Pago as potential sponsors. This is hardly surprising, given growing awareness of Libra’s potential adverse consequences. If it offers anonymity to its users, Libra will become a platform for tax evasion, money laundering, and terrorist finance. … Continue reading »
Co-authored with UC Berkeley economist Emmanuel Saez. Their new book is The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay. America’s soaring inequality has a new engine: Its regressive tax system. Over the past half century, even as their wealth rose to previously unseen heights, the richest Americans watched … Continue reading »
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 »