Poverty and Prosperity

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If You Live in an Area with High Income Inequality, You’re More Likely to Burn Out at Work

A 2015 report by the International Labour Organization covering more than 180 countries and over 84% of the global workforce warned of “widespread job insecurity in the global labor market,” finding that only one-quarter of the world’s workers have a stable employment relationship. In the United States, according to the 2016 Work and Well-Being Survey

Globalization Boosted Income Inequality, Study Says

Globalization's rise in recent decades has widened income inequality in the U.S. while padding executives' pockets, according to a study put out by the National Bureau of Economic Research that directly links globalized commerce with the country's prominent wage gap. Researchers from the University of Colorado–Boulder and Williams College in Massachusetts surveyed executive compensation at

Researchers have answered a big question about the decline of the middle class

America is getting richer every year. The American worker is not. Far from it: On average, workers born in 1942 earned as much or more over their careers than workers born in any year since, according to new research — and workers on the job today shouldn’t expect to catch up with their predecessors in

The Global Gap In Health Care Dollars For Young And Old Is Huge

The United States spends a lot of money taking care of the health needs of old people. In 2010, for example, each person 65 and older received $18,424 in health care services. That's five times more than the $3,628 in spending per child under 18, and three times more than the $6,125 per working-age adult,

2017-05-14T09:25:02+00:00 Tags: |

Is It Worth It to Try to Get Rich People to Realize They’re Lucky?

How do you get people with power and resources to care for the less fortunate? That’s a key question in politics and psychology, and the short answer is: “It’s hard.” Generally speaking, people who are doing well in life are benefiting from whatever’s going on at the moment and are unlikely to want to change

2017-05-07T08:29:57+00:00 Tags: |

Child poverty in the US is a disgrace. Experts are embracing this simple plan to cut it.

Most rich countries besides the US have hit on a surprisingly simple approach to reducing child poverty: just giving parents money. This idea, known as a child benefit or child allowance, exists in almost every EU country as well as in Canada and Australia. In many countries, the payments are truly universal; you get the

Inequality is getting worse, but fewer people than ever are aware of it

Inequality in America is on the rise. Income gains since the 1980s have been concentrated at the top. The top 10 percent today take home 30 percent of all income, and control over three-quarters of all wealth. We have returned to the level of income inequality that marked the Great Depression of the 1920s and

Peter Temin: Economic Mobility Requires the Nearly Impossible

The MIT economist Peter Temin argues that economic inequality results in two distinct classes. And only one of them has any power. A lot of factors have contributed to American inequality: slavery, economic policy, technological change, the power of lobbying, globalization, and so on. In their wake, what’s left? That’s the question at the heart

To Help Tackle Inequality, Remember the Advantages You’ve Had

Most Americans view current levels of economic inequality as a problem: In fact, for 30 years, Gallup polls have consistently found a clear majority supporting a more even distribution of wealth and income. But there is far less agreement on how to achieve that goal. Do we need to level the playing field so that

Everything We Knew About Sweatshops Was Wrong

In the 1990s, Americans learned more about the appalling conditions at the factories where our sneakers and T-shirts were made, and opposition to sweatshops surged. But some economists pushed back. For them, the wages and conditions in sweatshops might be appalling, but they are an improvement on people’s less visible rural poverty. As the economist

Growth in Africa Has Bypassed Millions

The importance of tackling inequality in Africa cannot be overstated. Inequality is undermining growth and threatens to reverse the gains that have been made in the fight against poverty. Four of the world’s five most unequal countries are in Africa. In South Africa, three billionaires own the same wealth as the poorest half of the

Social medicine consortium April 29 will target health inequalities

The Social Medicine Consortium will hold a conference April 29 at Malcolm X Community College, 1900 Jackson Blvd., Chicago, in the conference center, to address health inequalities. The conference will examine how health care providers are trained. It also will look at significant differences in life expectancy rooted in social conditions, including racism, economic exploitation and

2017-04-24T20:10:10+00:00 Tags: , |

Here’s what you have to earn to be considered low-income in the US – Vox

Rents are so high in some of the nation’s biggest cities that families earning well over the median national income are considered poor enough to need federal help to afford housing. In San Francisco, a family of four with an income as high as $105,000 per year would qualify for Section 8 subsidized housing vouchers.

How Blockchain Can Bring Financial Services to the Poor

A project from the Bill & Melinda Gates Foundation aims to use distributed ledger technology to help the two billion people worldwide who lack bank accounts. Two billion people worldwide don’t have bank accounts and must conduct their transactions in cash―which can be difficult to manage and presents safety issues. Could blockchain, the technology underlying

Warren Buffett nailed why poverty in America ‘does not make sense.’

Poverty in the U.S. just doesn't add up, according to Warren Buffett,  the CEO of Berkshire Hathaway who's given away billions of dollars to charitable causes.  Buffet got real on America's wealth inequality in an interview with Reuters published Sept. 8, 2015. Here's that quote in context: "You expect unequal results in a market economy, very unequal.

2017-04-22T04:36:10+00:00 Tags: |

America is Regressing into a Developing Nation for Most People

A new book by economist Peter Temin finds that the U.S. is no longer one country, but dividing into two separate economic and political worlds. You’ve probably heard the news that the celebrated post-WW II beating heart of America known as the middle class has gone from “burdened,” to “squeezed” to “dying.”  But you might

Want to solve income inequality? Simple: pay workers more

If there is a single global problem that almost everyone agrees needs to be tackled, it is income inequality. It’s a bigger deal in some countries than others: bad in the US, less so here (thanks to relatively aggressive tax and spending policies). But it’s a problem everywhere. Of course, there is a vigorous debate