Month: October 2016

Read Mark Paul’s opinion piece in U.S. News & World Report:  A Job for Everyone: A federal job guarantee is a good All-American policy

Mark Paul and Anastasia Wilson discuss how federal student loans facilitate a pernicious profit motive in higher education.  Read more……

Jeannette Wicks-Lim and Peter S. Arno, Political Economy Research Institute, are interviewed about their new report, “Overlooked But Not Forgotten: Social Security Lifts Millions More Children Out of Poverty.” They say there are about 6.4 million children under age 18 who benefit from Social Security or about 9 percent of children in the U.S. They also say there would be a dramatic rise in poverty rates for children if those benefits were removed. (The Real News Network, 9/12/16)

M.V. Lee Badgett, economics and public policy and administration, says new findings that show married male same-sex couples earn an average of $176,000, $52,000 more than married lesbian couples and $63,000 more than married straight couples, is due to the gender pay gap. Badgett says in heterosexual couples, the pay gap affects only one partner, while in same-sex couples it has an impact on both people. She also says the higher earnings for lesbian couples is likely due to the fact that most same-sex couples live on the coasts or in urban areas of the country. (New York Times, 9/12/16)

Vamsi Vakulabharanam, economics, discusses a strike by an estimated 150 million to 180 million workers in India to protest the government’s efforts to “open” India to global trade and roll back labor rights. (Dissent, 9/16/16)

      An article on presidential contender Hillary Clinton’s effort to court millennial voters mentions a policy paper by Robert Pollin, economics, on Sen. Bernie Sanders’ proposed financial transaction tax. Pollin’s paper said the tax would net approximately $300 billion annually in tax revenues. (New Boston Post, 9/20/16)

An essay co-authored by Lee Badgett, economics, says policymakers need to improve data collection and analysis to fully understand and respond to the economic issues facing the nation’s LGBT population. (The Hill, 9/20/16)

           Following Wells Fargo executives’ defense of their company before a Senate committee yesterday Gerald Epstein, economics, says banks are continuing to engage in misconduct and fraudulent behavior because of the government’s response. “The level of fraud has not been dealt with largely because the government hasn’t pursued those that are primarily responsible for criminal action,” says Epstein, who notes that bank executives were jailed in the savings and loan scandal in the 1990s. “But it doesn’t have the same deterrent effect because even though the fines seem quite large … it really doesn’t put that big a dent in the profit of the banks, it puts almost no dent in the bonuses and salary of those who are responsible for this.” (Christian Science Monitor, 9/20/16)

Arindrajit Dube, economics, says raising the minimum wage boosts incomes for low-wage workers but doesn’t cause job losses. He says his research shows that “higher minimum wages increase earnings for low-wage workers and they reduce inequality—without reducing employment or hurting job prospects for low-skilled workers.” (Edmonton Journal [Canada], 10/3/16)

Nancy R. Folbre, emerita professor of economics, has written a new paper where she challenges fellow economist Gregory Mankiw who was an advisor to Republican presidential candidate Mitt Romney and says the rich deserve to be rich because they contribute more to society than others. Folbre argues that the rich enjoy unfair advantages and that external factors play a large role in whether an individual succeeds or fails. She also says the open labor market doesn’t necessarily deliver equitable or efficient outcomes for workers, even highly trained ones. (Business Insider, 10/5/16)