Found 498 article(s) in category 'Q3: Inequality?'

Beyond Material Poverty: Why Time Poverty Matters for Individuals, Organisations, and Nations

Beyond Material Poverty: Why Time Poverty Matters for Individuals, Organisations, and Nations. Ashley Whillans, October 2019, Paper, “Over the last two decades, global wealth has risen. Yet, material affluence has not translated into time affluence. Instead, most people today report feeling persistently “time poor”—like they have too many things to do and not enough time to do them. This is critical because time poverty is linked to lower well-being, physical health, and productivity. For example, in our analysis of 2.5 million Americans, subjective feelings of time poverty had a stronger negative effect on well-being than being unemployed. However, individuals, organisations, and policymakers often overlook the pernicious effects of time poverty. Billions of dollars are spent each year to alleviate material poverty, while time poverty is often ignored or exacerbated. In this Perspective, we discuss the organisational, institutional, and psychological factors that explain why time poverty is often under appreciated. We argue that scientists, policymakers, and organisational leaders need to devote more attention and resources toward understanding and reducing time poverty to promote psychological and economic well-being.Link

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Would a “Wealth Tax” Help Combat Inequality? A Debate with Saez, Summers, and Mankiw

Would a “Wealth Tax” Help Combat Inequality? A Debate with Saez, Summers, and Mankiw. Lawrence Summers, N. Gregory Mankiw, October 16, 2019, Video, “Emmanuel Saez, a leading architect of the “wealth tax” plans advocated by Senators Elizabeth Warren and Bernie Sanders, outlined his proposals at the PIIE conference on “Combating Inequality: Rethinking Policies to Reduce Inequality in Advanced Economies” on October 17–18, 2019. Lawrence Summers of Harvard, top economic policymaker in the Clinton and Obama administrations, delivered a tough critique of Professor Saez’s proposals. He was joined in the criticism by Gregory Mankiw, also a Harvard economic professor, and a former top economic adviser to President George W. Bush. Watch this important and timely discussion, moderated by Catherine Rampell of the Washington Post.Link

 

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Rule of Law and Female Entrepreneurship

Rule of Law and Female Entrepreneurship. Edward Glaeser, October 2019, Paper, “Commerce requires trust, but trust is difficult when one group consistently fears expropriation by another. If men have a comparative advantage at violence and there is little rule-of-law, then unequal bargaining power can lead women to segregate into low-return industries and avoid entrepreneurship altogether. In this paper, we present a model of female entrepreneurship and rule of law that predicts that women will only start businesses when they have both formal legal protection and informal bargaining power. The model’s predictions are supported both in cross-national data and with a new census of Zambian manufacturers. In Zambia, female entrepreneurs collaborate less, learn less from fellow entrepreneurs, earn less and segregate into industries with more women, but gender differences are ameliorated when women have access to adjudicating institutions, such as Lusaka’s “Market Chiefs” who are empowered to adjudicate small commercial disputes. We experimentally induce variation in local institutional quality in an adapted trust game, and find that this also reduces the gender gap in trust and economic activity.Link

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How to Support Developing Countries in Energy Transition

How to Support Developing Countries in Energy Transition. Kenneth Rogoff, October 11, 2019, Opinion, “Despite the severity of the climate-change crisis, much of the debate in advanced economies is entirely inward-looking, without recognizing that the real growth in carbon dioxide emissions is coming from emerging Asia. In fact, Asia already accounts for a higher share of global emissions than the United States and Europe combined.Link

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We no longer share a common lived experience

We no longer share a common lived experience. Lawrence Summers, October 9, 2019, Opinion, “The economic geography of the United States is central to our most serious economic, social and political problems. And yet it is a subject that receives only the episodic attention of federal policymakers and initiatives that are far too small to have a meaningful chance of success.Link

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A revolution in economics? It’s just getting started…

A revolution in economics? It’s just getting started. Shawn Cole, October 2019, Opinion, “We have each experienced thrills and pain while supporting the mission of the Abdul Latif Jameel Poverty Action Lab, which facilitated many of the experiments described in the 2019 Nobel Prize citation. J-PAL in many ways seeks to fulfill what Angrist and Pischke called the “Credibility Revolution in Empirical Economics.” Even though (or perhaps because) we have conducted many RCTs, we share many of the concerns that critics have highlighted: high cost, long time lags, and limits to generalizability. Yet, we are quite optimistic that the impact and reach of experimental work in economics and policy will only grow. We see two complementary developments which will make RCTs cheaper, faster, larger, and ultimately substantially more insightful. First, a new research literature seeks to improve the design of experiments, and what we can learn from them, through improved methodologies, meta-analyses, and improved understanding of heterogeneity. Second, the rise of administrative data rapidly opens new frontiers of investigation, in particular the possibility of ‘closed-loop’ data environments, in which interventions can be delivered and evaluated digitally, often on very large samples, and often iteratively.Link

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Access To The American Dream Isn’t Just Determined By Income. Geography Matters

Access To The American Dream Isn’t Just Determined By Income. Geography Matters. Raj Chetty, September 27, 2019, Audio, “Research shows that America’s claim of social mobility is a myth, according to Harvard Economics Professor Raj Chetty, who told Boston Public Radio Friday that children in America are half as likely to climb out of poverty than they are in Canada. Chetty is the William A. Ackman Professor of Economics at Harvard and director of the Opportunity Insights program, where his team has determined that geography is crucial in determining social mobility. And this geography is specific, Chetty’s research shows — sometimes even correlated to a person’s neighborhood or block.Link

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The Law, Corporate Governance, and Economic Justice

The Law, Corporate Governance, and Economic Justice. Mark Roe, September 26, 2019, Paper, “The Chief Justice of the Delaware Supreme Court begins by invoking the New Deal, and expressing admiration for the way its goals and some of its social programs have been put into practice by Northern European social democracies. Most important are their protections for workers and the unemployed—protections the Judge finds deplorably absent in U.S. law and corporate labor practices. Nevertheless, when contemplating how corporate boards in the U.S. might respond to the growing demand for U.S. public companies to address social problems like the environment and economic inequality, the Delaware judge falls back on the prescription of Adolph Berle, who, though one of the framers of the New Deal, insisted that companies “stick to their knitting” by putting shareholders first as the only way of ensuring the accountability of corporate managements and boards.Link

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Jason Furman, Former Chairman of the Council of Economic Advisers, on the Economy

Jason Furman, Former Chairman of the Council of Economic Advisers, on the Economy. Jason Furman, September 24, 2019, Video, “Jason Furman, Former Chairman of the Council of Economic Advisers and Professor of the Practice of Economic Policy at Harvard Kennedy School, discusses the economy. He speaks with David Westin on “Bloomberg: Balance of Power.”Link

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John Campbell on the Current Investing Environment, Asset Pricing, Stock Market Lessons from India, and Solutions for Financial Crises

John Campbell on the Current Investing Environment, Asset Pricing, Stock Market Lessons from India, and Solutions for Financial Crises September 2019. GrowthPolicy’s Devjani Roy interviewed John Y. Campbell, Morton L. and Carole S. Olshan Professor of Economics at Harvard University, on the current investing environment, asset pricing, stock market lessons from India, and solutions for […]

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