Found 621 article(s) in category 'Inequality'

This is how companies can close the gender pay gap

This is how companies can close the gender pay gap. Iris Bohnet, April 1, 2018, Paper, “Now that mandatory reporting has revealed that three out of four British public entities and companies pay their male staff more than their female staff, the next question is what employers should do about it. Most organisations want to do something about their gender pay gaps, which in many cases stem from a dearth of women in higher-paying jobs — but many still focus on the wrong actions. Diversity training courses and their newer incarnation of unconscious bias training remain a popular tool, even though there is little evidence that they work. While they can raise awareness, studies show they do little to help change behaviour.Link

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The Political Economy of Ideas: On Ideas Versus Interests in Policymaking

The Political Economy of Ideas: On Ideas Versus Interests in Policymaking. Dani Rodrik, March 2018, Paper, “We develop a conceptual framework to highlight the role of ideas as a catalyst for policy and institutional change. We make an explicit distinction between ideas and vested interests and show how they feed into each other. In doing so the paper integrates the Keynes-Hayek perspective on the importance of ideas with the currently more fashionable Stigler-Becker (interests only) approach to political economy. We distinguish between two kinds of ideational politics – the battle among different worldviews on the efficacy of policy (worldview politics) versus the politics of victimhood, pride and identity (identity politics).Link

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Race and Economic Opportunity in the United States: An Intergenerational Perspective

Race and Economic Opportunity in the United States: An Intergenerational Perspective. Raj Chetty, Nathaniel Hendren, March 2018, Paper, “We study the sources of racial and ethnic disparities in income using de-identified longitudinal data covering nearly the entire U.S. population from 1989-2015. We document three sets of results. First, the intergenerational persistence of disparities varies substantially across racial groups. For example, Hispanic Americans are moving up significantly in the income distribution across generations because they have relatively high rates of intergenerational income mobility. In contrast, black Americans have substantially lower rates of upward mobility and higher rates of downward mobility than whites, leading to large income disparities that persist across generations.Link

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Michael Norton on income inequality, the “Ikea Effect,” and humblebragging

Michael Norton on income inequality, the “Ikea Effect,” and humblebragging March 2018. GrowthPolicy’s Devjani Roy interviewed Michael Norton, Harold M. Brierley Professor of Business Administration at Harvard Business School, on income inequality, the “Ikea Effect,” and humblebragging. | Click here for more interviews like this one. Links: Michael Norton’s faculty page at Harvard Business School […]

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Populism, Liberalism, and Democracy

Populism, Liberalism, and Democracy. Michael Sandel, March 13, 2018, Paper, “The right-wing populism ascendant today is a symptom of the failure of progressive politics. Central to this failure is the uncritical embrace of a neo-liberal version of globalization that benefits those at the top but leaves ordinary citizens feeling disempowered. Progressive parties are unlikely to win back public support unless they learn from the populist protest that has displaced them —not by replicating its xenophobia and strident nationalism, but by taking seriously the legitimate grievances with which these ugly sentiments are entangled. These grievances are not only economic but also moral and cultural; they are not only about wages and jobs but also about social esteem.Link

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Saving the heartland: Place-based policies in 21st Century America

Saving the heartland: Place-based policies in 21st Century America. Edward Glaeser, Lawrence Summers, March 8, 2018, Paper, “America’s regional disparities are large and regional convergence has declined if not disappeared. This wildly uneven economic landscape calls for a new look at spatially targeted policies. There are three plausible justifications for place-based policies–agglomeration economies, spatial equity and larger marginal returns to targeting social distress in high distress areas. The second justification is stronger than the first and the third justification is stronger than the second. The enormous social costs of non-employment suggests that fighting long-term joblessness is more important than fighting income inequality. Stronger tools, such as spatially targeted employment credits, may be needed in West Virginia than in San Francisco.Link

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George Serafeim on employment, inequality, and the relationship between corporate purpose and financial performance

George Serafeim on employment, inequality, and the relationship between corporate purpose and financial performance March 2018. GrowthPolicy’s Devjani Roy interviewed George Serafeim, Jakurski Family Associate Professor of Business Administration at Harvard Business School, on employment, inequality, and the relationship between corporate purpose and financial performance. | Click here for more interviews like this one. Links: […]

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‘Leave the crown in the garage’: The hidden taxes women pay

‘Leave the crown in the garage’: The hidden taxes women pay. Sendhil Mullainathan, March 3, 2018, “The working world is unfair to many women, yet even when they succeed, they must confront another series of challenges. Their hard-won successes are taxed in ways that men’s are not. The taxes I’m talking about aren’t paid in dollars and cents or imposed by the government. They take the form of annoyance and misery and are levied by individuals, very often by loved ones. I call these impositions taxes because they take away some of what an individual earns, diminishing the joys of success.Link

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Do the Rich Get Richer in the Stock Market? Evidence from India

Do the Rich Get Richer in the Stock Market? Evidence from India. John Y. Campbell, March 2018, Paper, “We use data on Indian stock portfolios to show that return heterogeneity is the primary contributor to increasing inequality of wealth held in risky assets by Indian individual investors. Return heterogeneity increases equity wealth inequality through two main channels, both of which are related to the prevalence of undiversified accounts that own relatively few stocks. First, some undiversified portfolios randomly do well, while others randomly do poorly. Second, larger accounts diversify more effectively and thereby earn higher average log returns even though their average simple returns are no higher than those of smaller accounts.Link

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