Found 677 article(s) in category 'Inequality'

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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Creative Destruction or Idiot Winds: Schumpeterian Theory Meets the Educational Sector in Developing Countries

Creative Destruction or Idiot Winds: Schumpeterian Theory Meets the Educational Sector in Developing Countries. Mark Moore, 2019, Paper, “This is one of a series of working papers from “RISE”—the large-scale education systems research programme supported by the UK’s Department for International Development (DFID), Australia’s Department of Foreign Affairs and Trade (DFAT), and the Bill and Melinda Gates Foundation.Link

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Should We Worry About Income Gaps Within or Between Countries?

Should We Worry About Income Gaps Within or Between Countries? Dani Rodrick, September 10, 2019, Opinion, “The rise of populist nationalism throughout the West has been fueled partly by a clash between the objectives of equity in rich countries and higher living standards in poor countries. Yet advanced-economy policies that emphasize domestic equity need not be harmful to the global poor, even in international trade.Link

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Redefining Engagement with Socio-spatially Marginalised Populations: Learning from Ghana’s Ministry of Inner City and Zongo Development

Redefining Engagement with Socio-spatially Marginalised Populations: Learning from Ghana’s Ministry of Inner City and Zongo Development. Michael Hooper, 2019, Paper, “Global interest in enhancing accountability and community participation has led many governments to engage socio-spatially marginalised populations left behind by urban development. This article examines an emergent example of these efforts: Ghana’s Ministry of Inner City and Zongo Development (MICZD). The MICZD’s objective is to improve the social and infrastructural development of zongos, or ‘stranger’s quarters’, which have historically housed Hausa migrants and are associated with slum-like conditions. The study draws on 38 interviews with government stakeholders, community organisations and local leaders as well as on four focus groups with zongo residents. The results reveal four key findings. First, the MICZD’s engagement with zongos is perceived as politically motivated, with this viewed negatively by some and positively by others. Second, the MICZD’s timeline is perceived differently depending on who is being asked. Third, respondents differ in their prioritisation of physical versus social improvements, with the MICZD focussing on physical interventions and zongo residents focussing on social and economic development. Finally, different groups have varied visions of success for the MICZD. The article concludes by identifying two paths towards more empowering state– society engagement—more continuous engagement and counterbalancing powers—and proposes how lessons from the MICZD can inform engagement with marginalised populations more broadly.Link

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Don’t Blame Economics, Blame Public Policy

Don’t Blame Economics, Blame Public Policy. Ricardo Hausmann, September 1, 2019, Opinion, “Engineering and medicine have in many respects become separate from their respective underlying sciences of physics and biology. Public-policy schools, which typically have a strong economics focus, must now rethink the way they teach students – and medical schools could offer a model to follow.Link

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Can Capitalism Be Made Better By Corporate Social Responsibility?

Can Capitalism Be Made Better By Corporate Social Responsibility? Nancy Koehn, August 23, 2019, Audio, “This week, nearly 200 CEOs pledged to discard a foundational tenet of business: that corporations exist only to serve their shareholders.  Chief executives from the Business Roundtable — including leaders of Apple, JP Morgan Chase, and Amazon, argued this week that the purpose of a corporation is to promote “an economy that serves all Americans.” Nancy Koehn, historian at Harvard Business School, said this declaration is a direct response to the public’s growing voice in holding corporations accountable.Link

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Has liberalism ruined everything?

Has liberalism ruined everything? Cass Sunstein, August 23, 2019, Paper, “There has been considerable recent discussion of the social effects of “liberalism,” which are said to include a growth in out-of-wedlock childbirth, repudiation of traditions (religious and otherwise), a rise in populism, increased reliance on technocracy, inequality, environmental degradation, sexual promiscuity, deterioration of civic associations, a diminution of civic virtue, political correctness on university campuses, and a general sense of alienation. There is good reason for skepticism about these claims. Liberalism is not a person, and it is not an agent in history. Claims about the supposedly adverse social effects of liberalism are best taken not as causal claims at all, but as normative objections that should be defended on their merits. These propositions are elaborated with reference to three subordinate propositions: (1) liberalism, as such, does not lack the resources to defend traditions; (2) liberalism, as such, hardly rejects the idea of “constraint,” though the domains in which liberals accept constraints differ from those of antiliberals, and vary over time; (3) liberalism, as such, does not dishonor the idea of “honor.” There is a general point here about the difficulty of demonstrating, and the potential recklessness of claiming, that one or another “ism” is causally associated with concrete social developments.Link

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Creating Moves to Opportunity: Experimental Evidence on Barriers to Neighborhood Choice

Creating Moves to Opportunity: Experimental Evidence on Barriers to Neighborhood Choice. Raj Chetty, Nathaniel Hendren, Lawrence Katz, August 2019, Paper, “Low-income families in the United States tend to live in neighborhoods that offer limited opportunities for upward income mobility. One potential explanation for this pattern is that families prefer such neighborhoods for other reasons, such as affordability or proximity to family and jobs. An alternative explanation is that they do not move to high-opportunity areas because of barriers that prevent them from making such moves. We test between these two explanations using a randomized controlled trial with housing voucher recipients in Seattle and King County. We provided services to reduce barriers to moving to high-upward-mobility neighborhoods: customized search assistance, landlord engagement, and short-term financial assistance. The intervention increased the fraction of families who moved to high-upward-mobility areas from 14% in the control group to 54% in the treatment group.Link

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A Unified Welfare Analysis of Government Policies

A Unified Welfare Analysis of Government Policies. Nathaniel Hendren, August 2018, Paper, “We conduct a comparative welfare analysis of 133 historical policy changes over the past half-century in the United States, focusing on policies in social insurance, education and job training, taxes and cash transfers, and in-kind transfers. For each policy, we use existing causal estimates to calculate both the benefit that each policy provides its recipients (measured as their willingness to pay) and the policy’s net cost, inclusive of long-term impacts on the government’s budget. We divide the willingness to pay by the net cost to the government to form each policy’s Marginal Value of Public Funds, or its “MVPF”. Comparing MVPFs across policies provides a unified method of assessing their impact on social welfare. Our results suggest that direct investments in low-income children’s health and education have historically had the highest MVPFs, on average exceeding 5. Many such policies have paid for themselves as governments recouped the cost of their initial expenditures through additional taxes collected and reduced transfers.Link

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Pol Antràs on Trade, Taxation, Solutions for Income Inequality, and the Future of Globalization

Pol Antràs on Trade, Taxation, Solutions for Income Inequality, and the Future of Globalization August 2019. GrowthPolicy’s Devjani Roy interviewed Pol Antràs, Robert G. Ory Professor of Economics at Harvard University, on trade, taxation, solutions for income inequality, and the future of globalization. | Click here for more interviews like this one. Links: Pol Antràs’s faculty page […]

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