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Tag Archives: Income disparity

New Evidence on the Consequences of Gentrification for Children

Yves here. Gentrification is a tricky phenomenon, made worse by too much analysis via anecdote. More empirical work like this is badly needed. By Kacie Dragan, PhD Candidate in Health Policy, Harvard University, Ingrid Gould Ellen, Paulette Goddard Professor of Urban Policy and Planning at NYU Wagner and Sherry Glied, Dean, Robert F. Wagner Graduate School of Public Service, New York University. Originally published at VoxEU The pace of gentrification in US cities has accelerated, but little...

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The Financial Times’ Martin Wolf Discovers that Rentier Capitalism and Financialization Increase Inequality and Hurt Growth

Surprisingly, no one commented on a link to an important article by the Financial Times’ esteemed economics editor, Martin Wolf, Martin Wolf: why rigged capitalism is damaging liberal democracy, that weighed in as a major feature, as opposed to his usual column length. Wolf’s article is noteworthy by virtue of singling out, above all, rentier capitalism as the underlying culprit in rising inequality and disappointing productivity growth, and depicts financialization as one of the biggest...

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America’s Workforce Elderly Workforce To Double By 2028

Lambert here: If Sanders wants to appeal to a no-longer-young demographic, here it is: Precarious old codgers. (For myself, I want to write ’til I drop, because shuffleboard is a death sentence, but I recognize that I’m an outlier.) By Julianne Geiger, a veteran editor, writer and researcher for Safehaven.com. Originally published at SaveHaven. The US Bureau of Labor Statistics is predicting a major increase over the next 10 years in the number of age 75-and-older workers in the workforce....

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Purdue Files for Bankruptcy, Agrees to Settle Some Pending Opioids Litigation: Sacklers on Hook for Billions?

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Purdue Pharma, the manufacturer of OxyContin owned by members of the Sackler family and catalyst for the opioids crisis, filed for chapter 11 bankruptcy reorganization Sunday night. The filing was part of a settlement agreed among 24 states – including Ohio, Tennessee, and Texas, 5 US territories, and numerous municipalities. Today, the United States...

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Dude! Where’s My Democracy?

By Kevin Albertson, Professor of Economics at Manchester Metropolitan University with a background in statistics and political economics. He is co-author of five books, including the Haynes Guide ‘How to Run the Country’. Originally published at openDemocracy Democracy is unwell, so it is said. In America and other leading democracies citizens are apparently increasingly critical of the concept of liberal democracy. We argue this is a misdiagnosis; citizens are not critical of liberal...

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Majority in US Back Free College Tuition and Student Debt Cancellation, New Poll Finds

Yves here. As we’ve said for many years, positions widely depicted by the press as left-wing, such as strengthening Social Security and Medicare, cutting military spending, making taxes more progressive, have consistently polled with solid majorities or at worst, pluralities. And the poll that found broad support for cancelling student debt and free college tuition was a solid sample size. But I’m not holding my breath about the MSM giving these results the play they deserve. By Judy Conley,...

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Is it Really “Full Employment”? Margins for Expansion in the US Economy in the Middle of 2019

Yves here. This post is particularly timely given the seeming disconnect between weak job creation but headline unemployment holding rock steady. We’ve described some of factors that make employment conditions less rosy than they seem, such as that job creation has overwhelmingly been in relatively low-skill, poorly paid positions, and that the level of involuntary part-time employment is high. But get a cup of coffee. This is a very readable but also comprenensive treatment of this topic. By...

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Private Equity and Surprise Medical Billing

By Eileen Appelbaum and Rosemary Batt Originally published at The Institute for New Economic Thinking website Surprise medical billing has become a critical issue facing Americans across the country because of purposeful corporate practices designed to increase profits. As hospitals have outsourced emergency rooms and other specialty care to reduce costs, private investors have bought up specialty physician practices, rolled them into powerful national corporations, and taken over hospital...

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‘Father Is Surgeon’: How Money Talked in USC Admissions Scandal

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Yesterday, the Wall Street Journal reported on emails sent among university officials at the University of Southern California (USC) that demonstrate how just heavily donations by  applicants’ families weigh in admissions decisions. The messages were filed Tuesday in a Boston federal court by a lawyer for two parents accused in the nationwide...

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Starving Seniors: How America Fails To Feed Its Aging

Lambert here: Everything’s going according to plan! By Laura Ungar, who health issues out of Kaiser Health News’ St. Louis office, and Trudy Lieberman, a journalist for more than 45 years, and a past president of the Association of Health Care Journalists. Originally published by Kaiser Health News. MEMPHIS, Tenn. — Army veteran Eugene Milligan is 75 years old and blind. He uses a wheelchair since losing half his right leg to diabetes and gets dialysis for kidney failure. And he has struggled...

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