Poverty and Prosperity

//Poverty and Prosperity

How government policies in India and China are widening income inequality

Wealth inequality continues to grow, according to the 2018 edition of the World Inequality Report. In the past three decades, 28% of the aggregate increase in real incomes in North America and western Europe was captured by the top 1% of earners. The bottom half saw less than 10% of this increase. Inequality has also settled

Is Housing Inequality the Main Driver of Economic Inequality?

Economic inequality is one of the most significant issues facing cities and entire nations today. But a mounting body of research suggests that housing inequality may well be the biggest contributor to our economic divides.Thomas Piketty’s influential book, Capital in the Twenty-First Century, put economic inequality—and specifically, wealth inequality—front and center in the global conversation. But research by

SDGs gain traction in the US, but with a domestic twist

A number of experts on philanthropy, poverty, and development are amping up efforts to show how the Sustainable Development Goals could apply to the United States, just as much as they do in any other country. But the version of the Global Goals that is emerging in the U.S. looks and sounds a bit different

High GPA could work against young women job hunters

COLUMBUS, Ohio – Stellar grades in college could hurt – rather than help – women new to the job market, according to a new study that suggests employers place more value on the perceived “likability” of female applicants than on their academic success. Male applicants with high grade point averages were twice as likely to

2018-04-09T07:58:59+00:00 Tags: |

Richest 1% on target to own two-thirds of all wealth by 2030

The world’s richest 1% are on course to control as much as two-thirds of the world’s wealth by 2030, according to a shocking analysis that has lead to a cross-party call for action. World leaders are being warned that the continued accumulation of wealth at the top will fuel growing distrust and anger over the

What Americans Think about Poverty and How to Reduce It

The 50th anniversary of the War on Poverty attracted little attention in 2015, and the 20th anniversary of welfare reform was barely noticed the following year. Although poverty tends to be overlooked by elected officials, policy experts, and the media, it remains a large and chronic social problem. According to the U.S, Census Bureau, 43

Investing in public education earns high marks for greater upward mobility

Investing in education may help boost economic opportunities for the next generation, according to a team of economists. In a study, researchers suggest that investing in public education can lead to more upward economic mobility and lower teen pregnancy rates, as well as provide a way to ease income inequality. "It's something we've long suspected,

2018-04-06T04:00:47+00:00 Tags: |

MLK’s vision matters today for the 43 million Americans living in poverty

On April 4, 1968, Martin Luther King Jr. was assassinated in Memphis, while fighting for a 10-cent wage increase for garbage workers. These efforts by King were part of a broader and more sustained initiative known as the Poor People’s Campaign. King was working to broaden the scope of the civil rights movement to include poverty and the

The secret to making it out of poverty

“When people think of poverty, a lot of times they immediately think income is the solution,” he says. “But poverty is multidimensional and much more complicated than a dollar figure.” As the director of Fundacion Paraguaya, a nongovernmental organization that advances microfinance and entrepreneurship in the South American country, Burt has devoted his life’s work

2018-03-31T06:31:48+00:00 Tags: |

A New Approach To Poverty

A letter in the New York Times from Joel Berg, the chief executive of Hunger for America, caught my eye because it encapsulates the political debate about financial poverty and what to do about it. Progressives believe that increasing the disposable incomes of the poor via minimum wage rises, expansions of tax credits and benefits (reform

2018-03-28T19:43:06+00:00 Tags: |

The Trend Toward Inequality Has Slowed, But So Has Income Growth

Every couple of years the Congressional Budget Office publishes estimates of the trend in federal tax burdens and the distribution of U.S. incomes. CBO’s newest estimates, published last week, show that income inequality continues to rise, but at a sharply slower pace compared with the three decades ending in 2007. Unfortunately, the upward trend in real income

How often do medical problems lead to bankruptcy?

A team of researchers led by an MIT economist has found that medical expenses account for roughly 4 percent of bankruptcy filings among nonelderly adults in the U.S. The scholars combined medical records and financial data for hundreds of thousands of people to pinpoint the percentage of bankruptcies caused by medical costs, thus giving new

2018-03-24T14:55:00+00:00 Tags: |

The messy truth about income inequality

We need to think differently about income inequality. You know the conventional wisdom. Except for the top 1 percent and the upper middle class, most Americans are treading water. Their incomes have stagnated for decades. Worse — and despite contrary pledges from President Trump — this will persist, because the rich are grabbing more income

A huge new Stanford and Harvard study proves that US inequality isn’t just about class

For decades, an increasingly loud chorus has claimed that economic inequality is primarily driven by class, with other possible reasons for disparities, such as race, playing a lesser role. They say that it is counterproductive to focus on inequality between races—instead, it is better to consider the inequality between all of America’s poor and its

Forget about GDP: it’s time for a wellbeing economy

It would be funny if it wasn’t so distressing. After every recent election in the West, the reaction of so many pundits has been to ask: Why are the anti-establishment parties so strong again when GDP has been picking up recently?  But perhaps the pick-up in GDP is so removed from what really matters to people that