Economic growth

/Tag: Economic growth

America Is Poorer Than It Thinks

What does it mean to be poor? Currently there are two basic ways to define poverty. To get a better measure of who needs help — and a better sense of how to provide it — society needs a third definition. The first definition is absolute poverty — essentially, material destitution. Human beings need food,

The Poverty Puzzle Poses Difficult Questions

Are we making progress on the global commitment to dramatically reduce the number of people living in poverty? Last month, the World Bank released its annual tracking report, titled “Piecing Together the Poverty Puzzle.” Whether or not progress is being made depends on how one views the data and what is meant by “poverty.” The Wall

Extreme inequality in the US is making a major economic problem even worse

US inequality has become so extreme that hyperbolic headlines about how much wealth is in the hands of a few families in this country have ceased to shock. But economists are increasingly worried that inequality is not just hurting the poor but also dampening the overall economy's growth potential. Three researchers at the Federal Reserve Bank of

Inequality makes growth less sustainable, IMF says

  Income inequality has been rising so rapidly in the United States and around the world that it threatens to make economic growth less durable, according to research from the International Monetary Fund. "While strong economic growth is necessary for economic development, it is not always sufficient," four IMF economists write in a new blog. "Inequality has risen

Study: a universal basic income would grow the economy

A universal basic income could make the US economy trillions of dollars larger, permanently, according to a new study by the left-leaning Roosevelt Institute. Basic income, a proposal in which every American would be given a basic stipend from the government no strings attached, is often brought up as a potential solution to widespread automation reducing