Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Inequality’

Investing in Poverty Reduction

Posted by hkarner - 19. März 2018

Laura Tyson, a former chair of the US President’s Council of Economic Advisers, is a professor at the Haas School of Business at the University of California, Berkeley, and a senior adviser at the Rock Creek Group.

Lenny Mendonca, Chairman of New America, is Senior Partner Emeritus at McKinsey & Company.

After almost a year of accomplishing nothing, the Republican-led US Congress has managed to enact a far-reaching tax law and budget legislation that will shape the contours of future government spending. Neither will solve America’s most pressing economic challenges, but each does include at least one sensible idea for tackling poverty.

BERKELEY – The tax legislation that US President Donald Trump signed into law last December will dramatically increase inequality and the federal budget deficit. Yet, hidden within it – and within budget legislation enacted in February – are two promising programs for helping state and local governments address the needs of disadvantaged Americans.

The new tax law creates generous incentives to encourage private investment in distressed urban and rural areas; and a provision in the budget package will establish a competitive grant program to help states fund “pay-for-success” contracts. Both ideas have their roots in the Democratic administrations of Presidents Bill Clinton and Barack Obama; but they attracted congressional Republican support because they empower state and local governments, rely on public-private partnerships, and encourage rigorous impact assessments. Den Rest des Beitrags lesen »


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Automation Isn’t Killing Jobs, Study Says, But May Be Keeping Income in Check

Posted by hkarner - 11. März 2018

Date: 10-03-2018
Source: The Wall Street Journal

New research finds workers are getting a smaller slice of an expanding economy

Robotic arms weld car frames in a Japanese auto factory in December.
Employment in transportation equipment manufacturing was nearly unchanged between 1970 and 2007, but the sector became far more productive.

A new study rebuts the notion that automation is eliminating jobs broadly in the economy, but does find technological advancement doesn’t reward workers much with added income.

Over the previous five decades, automation hasn’t reduced the number of jobs available in 18 advanced economies, including the U.S.–in fact, it helped increase total employment, finds a new paper by the Massachusetts Institute of Technology’s David Autor and Utrecht University’s Anna Salomons and released Thursday by the Brookings Institution.

But the economists’ paper also found that automation, and the productivity enhancements that it drives, has resulted in laborers taking home a smaller slice of an expanding economic pie. Den Rest des Beitrags lesen »

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Macron’s Education Revolution

Posted by hkarner - 8. März 2018

Philippe Aghion

Philippe Aghion is a professor at the Collège de France and at the London School of Economics, and a fellow of the Econometric Society and of the American Academy of Arts and Sciences.

Benedicte Berner is a lecturer at Sciences Po in Paris, chair of Civil Rights Defenders, and an associate at Harvard University’s Davis Center for Russian and Eurasian Studies.

French President Emmanuel Macron has drawn fire for his pro-growth economic reforms, which some critics have characterized as giveaways to corporations and the wealthy. But, when considered in full, Macron’s agenda is clearly aimed at reducing inequality and boosting social mobility.

PARIS – Since eliminating a wealth tax and imposing a flat tax on capital gains, French President Emmanuel Macron opponents have quite maliciously compared him to US President Donald Trump, who slashed taxes for the wealthiest Americans in December. Some of his harshest critics even refer to Macron as a “president for the rich.”

Nothing could be further from the truth. Viewed in full, Macron’s reform agenda offers a new and promising approach to tackling inequality and social immobility in France. And, at any rate, the United States and France are hardly comparable on these issues. Although income inequality has increased in France since 1990, it remains well below that of other developed countries. Den Rest des Beitrags lesen »


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Job and Cultural Insecurity, More Than Inequality, Fuels Populism

Posted by hkarner - 22. Februar 2018

Date: 21-02-2018
Source: YaleGlobal

For many workers, insecurity is a more pressing concern than inequality. They worry more about jobs threatened by global trade and automation, their communities’ vanishing way of life, and children’s future than inequality and increasing amounts of wealth controlled by a small percentage of the population. Populist leaders, many wealthy themselves, convince substantial numbers of voters that that the educated, the experts and established political leaders do not care about the plight of ordinary workers. Middle-class liberals may support the causes that benefit the poor or working class, but they can also “insulate themselves with residences in gentrified cities, assortative marriage patterns and cosmopolitan professional occupations,” explains economist Pranab Bardhan. “Sociologists often point out that the part of inequality that is salient to us is the contrast between our own lifestyle – and housing and school choices – and that of those who may be just above us. The inequality with the billionaires is too distant.” Bardhan offers practical proposals – on wage subsidies, global skill partnerships, and trade union and church initiatives – for countering populism and easing the insecurity over culture, immigration and inequality. – YaleGlobal Den Rest des Beitrags lesen »


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Milanović: „Große Vermögen höher besteuern“

Posted by hkarner - 15. Februar 2018

 InterviewAndrás Szigetvari15. Februar 2018, 12:28, derstandard.at

Viele Industrieländer, besonders die USA, entwickeln sich rückschrittlich, sagt der Ökonom Branko Milanović

Branko Milanović zählt zu den weltweit anerkanntesten Wissenschaftern, die zu Fragen der Verteilungsgleichheit forschen. Berühmt wurde er vor allem durch seine Arbeiten zu den Auswirkungen der Globalisierung auf die Einkommen in Industriestaaten und Schwellenländern. Milanović ist schwer in das links-rechts Schema einzuordnen – was ihn als Forscher so spannend macht.

STANDARD: Sie haben vor kurzem in einem Beitrag geschrieben, dass die globalen Eliten zunehmend eine Politik wie im 19. Jahrhundert verfolgen, wenn es um industrielle Beziehungen und Steuergesetzgebung geht. Wie kommen Sie darauf?

Milanović: Das war eine Reaktion auf das diesjährige Treffen des Weltwirtschaftsforums in Davos. Seit inzwischen acht Jahren ist die wachsende Ungleichheit das bestimmende Thema dort. Jedes Jahr beklagen die Manager der wichtigsten globalen Unternehmen in dem Schweizer Bergdorf die Entwicklung, und dennoch ändert sich nichts, im Gegenteil. Die Leute fahren nach Hause und zahlen Lobbyisten dafür, dass sie gegen strengere Steuergesetze kämpfen. Den Rest des Beitrags lesen »


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Inclusive Growth or Else

Posted by hkarner - 6. Februar 2018

Sergei Guriev

Sergei Guriev is Chief Economist at the European Bank for Reconstruction and Development.

Danny Leipziger, Professor of International Business at George Washington University and Managing Director of the Growth Dialogue, was a vice president of the World Bank and served as Vice Chair of the Spence Commission on Growth and Development.

Jonathan Ostry is Deputy Director of the IMF’s Research Department.

The decision to place inequality at the center of the discussion at Davos this year was a promising development. But actual solutions remain undeveloped, and concern about widening economic disparities within many countries remains inadequate, which must change if the current global economic recovery is to continue.

LONDON/WASHINGTON, DC – At this year’s World Economic Forum meeting in Davos, Switzerland, participants did not question the basic building blocks of growth in today’s global economy: free markets, good governance, and investment in human capital and infrastructure. But they did criticize how unfairly the benefits of growth are being distributed. Rightly so: without a strong policy response aimed at building a more inclusive growth model, rising populism and economic nationalism will impair the functioning of markets and overall macroeconomic stability – potentially cutting short the current global recovery. Den Rest des Beitrags lesen »


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A Look at Germany’s Extremely Unequal Wealth Distribution

Posted by hkarner - 28. Januar 2018

Date: 27-01-2018
Source: Der Spiegel
Subject: 50 Percent for 5 Percent

European Central Bank statistics show that wealth distribution in Germany is extremely unequal. But a new analysis by the German Institute for Economic Research shows that the situation is even worse than initially thought.

A Lamborghini in the city center of Munich.

The gathering of global political and industrial leaders in Davos each year leads many observers to wonder: Who benefits in the long term from economic growth and corporate profits? Society as a whole or just a select few at the very top? One way to approach that question is by looking at how the entire wealth of a given society is distributed among individual members of that society.

The problem, though, is that it isn’t so easy to calculate that distribution. Official data does, of course, exist. In Germany it is compiled by the Federal Statistical Office, and the European Central Bank (ECB) has been doing the same for the eurozone over the last few years. That data shows an extremely unequal wealth distribution.

But in reality, wealth is even more concentrated than the data shows, because the statistics have a blind spot: The superrich and their assets are consistently underestimated. This is because, on the one hand, there are so few of them that they aren’t adequately accounted for in randomized surveys. On the other hand, the statistics are based on voluntary responses – and willingness to participate demonstrably sinks as wealth among respondents increases. Den Rest des Beitrags lesen »


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The Right Question About Inequality and Growth

Posted by hkarner - 20. Januar 2018

Jason Furman

Jason Furman, Professor of the Practice of Economic Policy at the Harvard Kennedy School and Senior Fellow at the Peterson Institute for International Economics, was Chairman of President Barack Obama’s Council of Economic Advisers from 2013-2017.

The relationship between inequality and growth has become a hot topic for economists, with new research challenging the conventional view that greater inequality is the price that must be paid for higher output. But for policymakers, this debate is a distraction; the real question is how to assess outcomes and improve modes of distribution.

CAMBRIDGE – The belief that inequality hurts economic growth is gaining currency among policymakers. Some argue forcefully that high levels of inequality can make sustained growth impossible, and may even contribute to recessions. This view stands in stark contrast to the traditional view that there is a tradeoff between equality and growth, and that greater inequality is a price that must be paid for higher output.

Lost in the discussion, however, is whether any of this is actually germane to economic policymaking. I don’t believe it is. Whether inequality is good or bad for growth should and will continue to concern social scientists. But those guiding an economy should focus on assessing outcomes and modes of distribution rather than on a puzzle that will never fully be solved. Den Rest des Beitrags lesen »


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India has a hole where its middle class should be

Posted by hkarner - 13. Januar 2018

Date: 11-01-2018
Source: The Economist

That should worry both government and companies

AFTER China, where next? Over the past two decades, the world’s most populous country has become the market qua non of just about every global company seeking growth. As its economy slows, businesses are looking for the next set of consumers to keep the tills ringing.

To many, India feels like the heir apparent. Its population will soon overtake its Asian rival’s. It occasionally grows at the kind of pace that propelled China to the status of economic superpower. And its middle class is thought by many to be in the early stages of the journey to prosperity that created hundreds of millions of Chinese consumers. Exuberant management consultants speak of a 300m-400m horde of potential frapuccino-sippers, Fiesta-drivers and globe-trotters. Rare is the chief executive who, upon visiting India, does not proclaim it as central to his or her plans. Some of that may be a diplomatic dose of flattery; much of it, from firms such as IKEA, SoftBank, Amazon and Starbucks, is sincerely meant. Den Rest des Beitrags lesen »


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The Consequence of Inequality

Posted by hkarner - 11. Januar 2018

http://www.upworthy.com/2-monkeys-were-paid-unequally-see-what-happens-next. Frans de Waal


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