Poverty and Prosperity

//Poverty and Prosperity

High Income Inequality Hurts Social Security’s Finances

Social Security’s trustees released their annual report this week. The program faces a manageable long-term financial shortfall after 2035, after which it can still pay 77% of promised benefits if nothing changes. Importantly, part of this shortfall is due to the growth and persistence of massive income inequality that have been a hallmark of the U.S. economy for much

Housing inequality mirrors income inequality, says study

It’s generally understood that rising housing costs, and a shortage of new units, have contributed to an affordable housing crisis in the United States. New research by economists at Apartment List have found that inequality has also been rising, with those struggling to afford rent tending to pay a much greater share of their income than wealthier Americans. Overall,

Why Do Lean And Best Practices Efforts Fail? Clayton Christensen Will Tell You

The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty is the latest book by Harvard Business School Professor Clayton Christensen, whose 1997 book The Innovator’s Dilemma and its sequels introduced the concept of disruptive innovation, and provided instructions on how companies can win when faced with it. His new one is co-authored by Efosa Ojomo and

Public Tax Returns? No, Just Those of the Well-Off

Senator and presidential candidate Bernie Sanders's reluctance to make his income-tax returns public recently caused a minor fracas within the Democratic Party. Eventually, he capitulated, and the world discovered that Sanders makes about a half-million dollars a year. This revelation is unlikely to cost Sanders support among voters -- after all, Sanders’s policies would raise taxes

Inequality Will Eventually Hurt the Rich, Too

Income inequality is harming the economy. Most people spend whatever extra money they earn. The rich, however, are disproportionately likely to save any additional income, which means that income concentration saps consumer demand and threatens the viability of new investments—just as in the 1920s and 1930s. We used to know this. Marriner Eccles, the former

FPWAs Ending the Poverty to Prison Pipeline Report 2019

A new report by FPWA details the criminalization of poverty. The health and human services sector can disrupt the “poverty to prison pipeline” – but only by becoming aware of the key role they can play in battling poverty, according to the report. “Although the majority of health and human services providers do not currently

2019-04-22T10:51:08-05:00Tags: , |

Oxfam America leader talks poverty and inequality

In a talk aptly named “Inequality and the Injustice of Poverty” on Tuesday night, President and CEO of Oxfam America Abigail Maxman challenged her audience of around three dozen students and professors in Kresge Auditorium to consider the challenge that these two forces pose today. “The gap between the richest and the poorest has reached

2019-04-19T07:33:05-05:00Tags: |

Is education the keys to the kingdom?

In New York City, home to our nation’s financial markets, a staggering 74 percent of its students are considered economically disadvantaged. They are parallel worlds, a few miles apart and largely invisible to one another. This is an increasing challenge across our country: How do we build a path to economic mobility for more of

Income Inequality in America: Growth and Statistics

Should you have more money? For decades America has gotten richer and individual workers have gotten more productive. We work longer hours, produce more per hour and raise stock prices to once-unimaginable levels… and almost no one has gotten a meaningful raise since the Carter administration. Income equality has a lot to do with that. What

Has income stalled for the bottom 90% since the 1970s

During an interview on Vox.com co-founder Ezra Klein’s podcast, Democratic presidential candidate Pete Buttigieg highlighted growing inequality in the United States. In response to a question from Klein about the the conservative era ushered in by President Ronald Reagan, Buttigieg said the governmental approach at the time "had a lot do fo with the removal of

The problem with college admissions: a system that perpetuates economic inequality

The recent college admissions scandal, which continues to captivate the nation’s attention, has laid bare the issues that have festered at the heart of college admissions for many years. The government’s indictment of parents who illegally manipulated their children’s applications makes clear how wealthy parents obsess on the prestige of certain colleges. It appears that implicated

Growing Up Poor Not Only Affects Your Health, It Changes as Many as 1 in 13 Genes

We all love a good rags to riches story, but the truth is that poverty never really leaves you. Not only does it have a lasting effect on your health and mental well-being, growing up poor changes you at a genetic level. A new study demonstrates the extent of poverty's impact on our DNA, revealing that

How the 1 Percent Is Pulling America’s Cities and Regions Apart

The two gravest challenges facing America today, economic inequality and geographic divides, are increasingly intertwined. Economic inequality has surged with nearly all the growth being captured by the 1 percent, and the economic fortunes of coastal superstar cities and the rest of the nation have dramatically diverged. These two trends are fundamental to a new study by

Income inequality is growing fast in China and making it look more like the US

Between 1978 and 2015, China moved from a poor, underdeveloped country to the world’s leading emerging economy. Despite the decline in its share of world population, China’s share of world GDP increased from less than 3 per cent in 1978 to about 20 per cent by 2015 (see Figure 1). According to official statistics, real

Amazon: Income Inequality Worsens

The web giant, Amazon, which is the one of the largest private employers in the US with about 566,000 employees, and which doubled its profit to $11.2 billion in 2018 from $5.6 billion in 2017, paid zero tax in US federal taxes in 2017 and 2018 and redesigned its corporate structure so it could do

Want to visualize inequality? View cities from above

FROM THE AIR, drone photography exposes the economic divide within cities. Roads, canals, and fences become barriers that split the land separating the rich and poor. Stark images from Johnny Miller’s series “Unequal Scenes” highlight the uneven development of cities. Makeshift shacks butt against developments in Mumbai. Lots sit empty in Detroit while an adjoining neighborhood

Charts of the week: Global and U.S. poverty trends

This week, highlights from research on U.S. and global poverty trends and data. INDIA IS MOVING DOWN IN GLOBAL POVERTY Today’s discussion of global impoverishment and poverty reduction generally centers on the African continent. Homi Kharas, Kristofer Hamel, and Martin Hofer call attention to the general trend of India, a country with a large impoverished population

Low-income neighborhoods more vulnerable to flooding

Portland experiences both extreme heat in the summer months and frequent nuisance flooding in the winter and spring, and that's only expected to worsen with climate change. A new Portland State University study found the potential for flooding and extreme heat is most acute in East Portland's low-income neighborhoods that have fewer green spaces and

2019-03-27T08:27:08-05:00Tags: |

A third of homeless deaths are from treatable conditions

A third of deaths among homeless people are caused by treatable conditions such as tuberculosis and gastric ulcers, which can improve with the right care, a UCL study has found. Academics led by Dr Robert Aldridge (UCL Institute of Health Informatics) analysed nearly 4,000 in-depth medical records for 600 people who died in English hospitals

2019-03-26T07:56:01-05:00Tags: |