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1.
Inequality in America
Amid the changing of the guard in Washington, Nobel laureate @DeatonAngus takes stock https://www.prospectmagazine.co.uk/opinions/us-inequality-wealth-divide
Inequality in America
Amid the changing of the guard in Washington, Nobel laureate @DeatonAngus takes stock https://www.prospectmagazine.co.uk/opinions/us-inequality-wealth-divide
2.
With the Biden economic team, inequality will soon have arrived not only as a central issue in American politics, but in American government
Witness the expertise of Treas Sec @JanetYellen Council of Economic Advisors @CeciliaERouse @econjared @HBoushey ...
With the Biden economic team, inequality will soon have arrived not only as a central issue in American politics, but in American government
Witness the expertise of Treas Sec @JanetYellen Council of Economic Advisors @CeciliaERouse @econjared @HBoushey ...
3.
The challenge is about race, gender and education as well as income alone — and the divide on every dimension deepens with Covid
Just compare a white professional whose stock-market-based pension has been RISING as fortunes of, say, waitresses or meat-processing workers sink
The challenge is about race, gender and education as well as income alone — and the divide on every dimension deepens with Covid
Just compare a white professional whose stock-market-based pension has been RISING as fortunes of, say, waitresses or meat-processing workers sink
4.
We can debate how much inequality is OK, but as Elizabeth Anderson argues, there comes a point where the fairness of institutions buckle
America is beyond the early promise admired by Alexis De Tocqueville, when he wrote: “Democracy attaches all possible value to each man”
We can debate how much inequality is OK, but as Elizabeth Anderson argues, there comes a point where the fairness of institutions buckle
America is beyond the early promise admired by Alexis De Tocqueville, when he wrote: “Democracy attaches all possible value to each man”
5.
Slowly but ineluctably, unequal respect, unequal esteem, and unequal rewards in American society have come to be felt as a crisis of American democracy.
Slowly but ineluctably, unequal respect, unequal esteem, and unequal rewards in American society have come to be felt as a crisis of American democracy.
6.
American profits have come unstuck from the prosperity of ordinary Americans — indeed they are often at the expense of ordinary Americans
American profits have come unstuck from the prosperity of ordinary Americans — indeed they are often at the expense of ordinary Americans
7.
Rage against the bankers who get rich at the expense of others goes back to at least 2008
The years since have shown that Big Pharma has profited through addiction and early death of many poor Americans
Increasingly Big Tech is ranking as a villain too
Rage against the bankers who get rich at the expense of others goes back to at least 2008
The years since have shown that Big Pharma has profited through addiction and early death of many poor Americans
Increasingly Big Tech is ranking as a villain too
8.
When Google abandoned its original motto of “do no evil,” and turned itself into Alphabet, it also overcame its distaste for lobbying. It spent nothing before 2006, but in 2018 spent $28 million, more than any other corporation.
When Google abandoned its original motto of “do no evil,” and turned itself into Alphabet, it also overcame its distaste for lobbying. It spent nothing before 2006, but in 2018 spent $28 million, more than any other corporation.
9.
For those who worry about the very top of the distribution, big tech is no longer a side show but the main event. The richest Americans today are the tech entrepreneurs: Bezos, Musk, Gates, Ellison, Zuckerberg, Walton, Ballmer, Page, Brin and Bloomberg.
For those who worry about the very top of the distribution, big tech is no longer a side show but the main event. The richest Americans today are the tech entrepreneurs: Bezos, Musk, Gates, Ellison, Zuckerberg, Walton, Ballmer, Page, Brin and Bloomberg.
10.
Back in the land of the majority, with no college degree, pre-pandemic male wages were lower than at any time in the 1980s.
Over 3 or 4 decades, the march of technology doubled real GDP per capita to double, but pay packets had shrunk
Back in the land of the majority, with no college degree, pre-pandemic male wages were lower than at any time in the 1980s.
Over 3 or 4 decades, the march of technology doubled real GDP per capita to double, but pay packets had shrunk
11.
Remarkably, despite the familiar assumption about ever-more women working, employment rates have been tending to sink even for American women without a BA since 2000
Remarkably, despite the familiar assumption about ever-more women working, employment rates have been tending to sink even for American women without a BA since 2000
12.
Most frightening of all, longevity for unschooled (or more accurately, un-degreed) Americans has tumbled to the point where overall nationwide life expectancy is now lower than several years ago -- reverse progress you'd only ordinarily expect in war
Most frightening of all, longevity for unschooled (or more accurately, un-degreed) Americans has tumbled to the point where overall nationwide life expectancy is now lower than several years ago -- reverse progress you'd only ordinarily expect in war
13.
In sum Angus Deaton pinpoints how US econ inequality is now warping US society & politics
Of interest? @TheIFS @LSEInequalities @TheIFS @TorstenBell @AnnPettifor @DuncanWeldon @t0nyyates @DianeCoyle1859 @SoumayaKeynes @adam_tooze @AdamPosen
https://www.prospectmagazine.co.uk/opinions/us-inequality-wealth-divide
In sum Angus Deaton pinpoints how US econ inequality is now warping US society & politics
Of interest? @TheIFS @LSEInequalities @TheIFS @TorstenBell @AnnPettifor @DuncanWeldon @t0nyyates @DianeCoyle1859 @SoumayaKeynes @adam_tooze @AdamPosen
https://www.prospectmagazine.co.uk/opinions/us-inequality-wealth-divide
