Economy

  • 04.04.18

    It's Our Job To Finish Dr. Martin Luther King's Economic Justice Work

    I recently travelled to Memphis to headline an event at the National Civil Rights Museum in the Lorraine Motel, the place the Reverend Dr. Martin Luther King Jr. was assassinated on April 4, 1968....

    I recently travelled to Memphis to headline an event at the National Civil Rights Museum in the Lorraine Motel, the place the Reverend Dr. Martin Luther King Jr. was assassinated on April 4, 1968.

    Tags: MLK, Economy
  • 02.08.18

    More Buybacks, More Inequality

    Trump's promise that corporations will use his giant new tax cut to make new investments and raise workers' wages is proving to be about as truthful as his promise to release his tax returns....

    Trump’s promise that corporations will use his giant new tax cut to make new investments and raise workers’ wages is proving to be about as truthful as his promise to release his tax returns.

  • 12.15.17

    The American Dream is At Stake if Low Income Earners Can't Own a Home

    For many people, the dream of homeownership is only attainable through federal guarantees, or loans insured by the federal government....

    For many people, the dream of homeownership is only attainable through federal guarantees, or loans insured by the federal government.

  • 12.02.17

    An Open Letter to the US Congress

    Both the House and the Senate have passed versions of a GOP tax plan. According to analyses from the Tax Policy Center, the CBO and numerous economists, both plans overwhelmingly benefit the wealthiest people in this country, and both will result in the loss of health insurance for some 13 million Americans. Meanwh...

    Both the House and the Senate have passed versions of a GOP tax plan. According to analyses from the Tax Policy Center, the CBO and numerous economists, both plans overwhelmingly benefit the wealthiest people in this country, and both will result in the loss of health insurance for some 13 million Americans. Meanwhile, research warns that millions will face higher taxes and a spike in their health insurance premiums in the years ahead. And there isn’t a single credible study that supports the claim that either of these tax plans will deliver the kind of economic growth — with higher wages and substantially more jobs — the GOP is touting to sell their plan.

    This is an open letter to the U.S. Congress signed by over 200 Ph.D economists that outline the economic arguments against the tax plan. 

     

    Tags: Tax Plan, Economy, GOP
  • 12.01.17

    You're The Real Job Creator

    As the GOP tax plan, officially known as the Tax Cuts and Jobs Act, awaits reconciliation with the House, the threat of a mounting deficit is once again in the news....

    As the GOP tax plan, officially known as the Tax Cuts and Jobs Act, awaits reconciliation with the House, the threat of a mounting deficit is once again in the news. 

  • 04.23.17

    The Big Picture: Strengthen Unions With Robert Reich

    In this video, Robert Reich describes why unions are important to the U.S. and how to strengthen them. 50 years ago, unions were "the countervailing power to business." They were successful in raising wages, improving working conditions and supported legal protections like the 40 hour work week and worker safety. ...

    In this video, Robert Reich describes why unions are important to the U.S. and how to strengthen them.

    50 years ago, unions were "the countervailing power to business." They were successful in raising wages, improving working conditions and supported legal protections like the 40 hour work week and worker safety.

    However, the decline in private sector union membership has mirrored the decline in the middle class. Reich points out that "Strong unions means a strong middle class which means a strong economy."

    His three steps to strengthening unions are:

    1. Make it easier to form a union
    2. Build in real penalties to companies that violate labor laws.
    3. Overturn state  “Right to work” laws

    He ends with the statement that, “if we want working Americans to get a fair share of the gains from economic growth they must be able to unionize.”

  • 10.02.16

    Facing Up To Income Inequality

    Jeffrey Sachs begins this article with a description of stagnating incomes "While household median incomes have stagnated since the late 1990s, the inflation-adjusted earnings of poorer households have stagnated for even longer, roughly 40 years" while higher income households have seen substantial increases. Sac...

    Jeffrey Sachs begins this article with a description of stagnating incomes "While household median incomes have stagnated since the late 1990s, the inflation-adjusted earnings of poorer households have stagnated for even longer, roughly 40 years" while higher income households have seen substantial increases. 

    Sachs describes that there are three main factors that contribute to this income inequality: technology, trade, and politics.

    Technology has raised demand for higher skilled, higher educated workers and has increased income for those groups while leaving other groups behind. While trade has increased competition for lower skilled industrial workers. Finally, politics in the United States has not tended to favor the working class and instead it benefits those who can pay for lobbying.

    Sachs then investigates the policies in the U.S. compared to those in other countries using the Gini index (a measure of income inequality varies between 0 - full income equality across households, and 1 - full-income inequality, in which one household has all the income) to compare countries both through market income and disposable income. He finds that the net distibution in the U.S. is especially low when compared to many other first world countries and ends with the statement that "these income comparisons underscore that America's high inequality is a choice, not an irreversible law of modern world economy."

     

  • 11.21.15

    The Angry Birds Approach to Understanding Deficits in the Modern Economy

  • 05.11.15

    The Big Picture: Fight For $15 With Robert Reich

    Robert Reich begins this video talking about morality - that "the majority of Americans agree that no-one who works full time should be in poverty, and neither should their family." Reich describes the current situation where the minimum wage is not high enough to raise workers out of poverty and that "the working...

    Robert Reich begins this video talking about morality - that "the majority of Americans agree that no-one who works full time should be in poverty, and neither should their family."

    Reich describes the current situation where the minimum wage is not high enough to raise workers out of poverty and that "the working poor remain impoverished"

    Reich argues that if the minimum wage kept up with inflation it would be $10.52 and if it kept up with productivity it would be more than that. He also describes what he calls the "virtuous cycle" where when individuals make a higher minimum wage, they spend that money which creates more demand, and therefore more jobs. 

  • 09.27.13

    Inequality For All: A Visual Story

    To compliment his film Inequality for All, Robert Reich put together this visual story to demonstrate and shine light on the economic inequality in the United States....

    To compliment his film Inequality for All, Robert Reich put together this visual story to demonstrate and shine light on the economic inequality in the United States. 

    Inequality for all 1