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jerryking : inequality   27

The promise of synthetic data
February 4, 2020 | Financial Times | by Anjana Ahuja.

* Race after Technology by Ruha Benjamin.
Where anonymization fails, synthetic data might yet succeed. Synthetic data is artificially generated. It is most often created by funnelling real-world data through a noise-adding algorithm to construct a new data set. The resulting data set captures the statistical features of the original information without being a giveaway replica. Its usefulness hinges on a principle known as differential privacy: that anybody mining synthetic data could make the same statistical inferences as they would from the true data — without being able to identify individual contributions........Synthetic data has the potential to squeeze useful information from tightly-controlled databases. Uncovering fraud, for example, can be challenging because regulations restrict how information can be shared, even within banks. Synthetic data can help to unveil useful patterns, while masking individual incidents.......“If you’re trying to train an algorithm to detect fraud, you don’t care about specific transactions and who made them,” he says. “You care about the statistics, like whether the amounts are just below the limit needed to trigger an audit, or if they tend to occur close to the end of the quarter.” Those kinds of numbers can be shaken out of synthetic data as well as from the original........the UK’s Office for National Statistics says synthetic data offers a “safer, easier and faster way to share data between government, academia and the private sector”........ The data does not have to be rooted in the real world to have value: it can be fabricated and slotted in where some is missing or hard to get hold of........Synthetic data could, of course, be framed as fake data — but in some circumstances that is a bonus. Artificial intelligence that is trained on real-life information flaunts a baked-in bias: algorithmic decision-making in fields such as criminal justice and credit scoring shows evidence of racial discrimination........discrimination is not something that AI should perpetuate ..... synthetic data could help tackle complex social issues such as poverty: “We could modify that bias. People could release synthetic data that reflects the world we would like to have. Why not use those as training sets for AI?"
algorithms  anonymity  anonymized  biases  books  dark_side  data  data_wrangling  differential_privacy  fairness   inequality  noise  privacy  racial_discrimination  synthetic_data 
8 weeks ago by jerryking
Opinion | The Meritocracy Is Ripping America Apart
Sept. 12, 2019 | - The New York Times | By David Brooks.

savage exclusion tears the social fabric.

There are at least two kinds of meritocracy in America right now. Exclusive meritocracy exists at the super-elite universities and at the industries that draw the bulk of their employees from them — Wall Street, Big Law, medicine and tech. And then there is the more open meritocracy that exists almost everywhere else.

In the exclusive meritocracy, prestige is defined by how many people you can reject....The more the exclusivity, the thicker will be the coating of P.C. progressivism to show that we’re all good people.

People in this caste work phenomenally hard to build their wealth......People in this caste are super-skilled and productive.....These highly educated professionals attract vast earnings while everybody else gets left behind......Parents in the exclusive meritocracy raise their kids to be fit fighters within it....affluent parents invest on their kids’ human capital, over and above what middle-class parents can afford to invest......the Kansas Leadership Center. The center teaches people how to create social change and hopes to saturate the state with better leaders. But the center doesn’t focus on traditional “leaders.” Its mantra is: “Leadership is an activity, not a position. Anyone can lead, anytime, anywhere.” The atmosphere is one of radical inclusion.....People in both the exclusive and open meritocracies focus intensely on increasing skills. But it’s jarring to move from one culture to the other because the values are so different. The exclusive meritocracy is spinning out of control. If the country doesn’t radically expand its institutions and open access to its bounty, the U.S. will continue to rip apart.
Accomplisher_Class  Big_Law  caste_systems  Colleges_&_Universities  David_Brooks  elitism  exclusivity  hard_work  human_capital  inequality  law_firms  leadership  medicine  meritocracy  op-ed  parenting  political_correctness  social_classes  social_exclusion  social_fabric  social_impact  social_inclusion  social_mobility  society  technology  values  Wall_Street  winner-take-all 
september 2019 by jerryking
Mellody Hobson of Ariel Investments: ‘Capitalism Needs to Work for Everyone’
July 18, 2019 | The New York Times | By David Gelles.

Mellody Hobson was raised by a single mother and endured economic hardship as a child. The phone was shut off. The car was repossessed. Her family was evicted.

Today, Ms. Hobson is one of the most senior black women in finance. She serves on the boards of JPMorgan Chase and Starbucks, and this month was named co-chief executive of Ariel Investments, the largest minority-owned investment firm.......I was in the Woodrow Wilson School of international relations and public policy at Princeton. You have to apply to get in, and I did not originally get in. I lobbied really hard and called many people. I just would not take no for an answer.

I spent a lot of my years in the Woodrow Wilson School studying systems that really oppress people. I wrote my senior thesis on South Africa, and specifically on how children ultimately led to the end of apartheid because of their uprisings.........What do you tell people who are starting on their financial journey, wherever they might be?

I start off by explaining to them that it’s never too late, literally never. I also think the most important thing you can learn about money, and Warren Buffett talks about this, is compound interest. It’s the eighth wonder of the world. If you understand compound interest, you understand money working for or against you.

We talk about long-term patient investing, and that idea that slow and steady does win the race, that time can be your best friend when it comes to investing. That’s why we have a turtle as a logo at Ariel........ I believe in capitalism. It is the best system that has existed in the world. Show me a better one. I can’t find it. But I also believe that capitalism needs to work for everyone, and so I don’t begrudge those people who’ve done extraordinarily well in our society as long as it’s a fair fight.

It isn’t always a fair fight, though, and that’s what we need to fix. That could be anything from our tax bases and how that works, our tax rates, to other issues that occur in our society around fair opportunities for education.

I am a person of color who happens to be a woman as well, and I have firsthand dealt with inequality, despite having shown up with all of the credentials. I do not sit here believing that if you’ve just gone to a great school and this, that and the other, it’s all going to be fine. It just doesn’t work like that in our society. I think about those people who were like me and are like me. That goes into the boardrooms that I’m in. I also think about the people of color who are inside of those companies, making sure they get the same opportunity as those who are in the majority population....
African-Americans  alumni  Ariel  capitalism  CEOs  finance  inequality  investing  Mellody_Hobson  money_management  Princeton  women 
july 2019 by jerryking
The Man With the $13 Billion Checkbook
July 12, 2019 | The New York Times | By John Leland [John Leland, a Metro reporter, joined The Times in 2000. His most recent book is “Happiness Is a Choice You Make: Lessons From a Year Among the Oldest Old,” based on a Times series. @johnleland]

In the neglected Harlem of the late 1990s, one dynamic player was the Abyssinian Development Corporation, a nonprofit offshoot of the powerful Abyssinian Baptist Church. Harlem then was littered with abandoned buildings that had been repossessed by the city. The development corporation, led by the Rev. Dr. Calvin O. Butts III, leveraged city and private money to restore these shells, then used the profits to acquire and rehab more buildings. Mr. Walker became the organization’s chief operating officer, working out of a basement office to help bring a Pathmark supermarket to 125th Street, the anchor for what would become a thriving commercial corridor in a neighborhood that had been given up for dead.

“Working for Calvin Butts, you saw the power of the black church, the shrewd political instincts of a power player, and the dynamic at the intersection of race, power, geography and culture,” Mr. Walker said. “It gave me tremendous insight into how power at that intersection plays out, and who benefits and who doesn’t benefit.”

Mr. Walker’s time at Abyssinian also taught him what it was like to rely on foundation grants, begging the mighty patron for favors. When he left to join the Rockefeller Foundation and then Ford — and as Abyssinian boomed and busted in a new Harlem — he vowed to change this relationship.
African-Americans  capitalism  Communicating_&_Connecting  contradictions  cultural_institutions  Darren_Walker  Ford_Foundation  Harlem  inequality  museums  patronage  power_brokers  New_York_City  personal_connections  political_power  relationships  tokenism 
july 2019 by jerryking
Steven Brill's "Tailspin": How My Generation Broke America
May 17, 2018 | | Time | By STEVEN BRILL.

From matters small – there are an average of 657 water-main breaks a day, for example – to large, it is clear that the country has gone into a tailspin over the last half-century, when John F. Kennedy’s New Frontier was about seizing the future, not trying to survive the present..............The Meritocracy’s ascent was about more than personal profit. As my generation of achievers graduated from elite universities and moved into the professional world, their personal successes often had serious societal consequences. They upended corporate America and Wall Street with inventions in law and finance that created an economy built on deals that moved assets around instead of building new ones. They created exotic, and risky, financial instruments, including derivatives and credit default swaps, that produced sugar highs of immediate profits but separated those taking the risk from those who would bear the consequences. They organized hedge funds that turned owning stock into a minute-by-minute bet rather than a long-term investment. They invented proxy fights, leveraged buyouts and stock buybacks that gave lawyers and bankers a bonanza of new fees and maximized short-term profits for increasingly unsentimental shareholders, but deadened incentives for the long-term growth of the rest of the economy.....[We need 'guardrails' against legal and financial excesses.]......Forty-eight years after Inky Clark gave me my ticket on the meritocracy express in 1967, a professor at Yale Law School jarred the school’s graduation celebration. Daniel Markovits, who specializes in the intersection of law and behavioral economics, told the class of 2015 that their success getting accepted into, and getting a degree from, the country’s most selective law school actually marked their entry into a newly entrenched aristocracy that had been snuffing out the American Dream for almost everyone else. Elites, he explained, can spend what they need to in order to send their children to the best schools, provide tutors for standardized testing and otherwise ensure that their kids can outcompete their peers to secure the same spots at the top that their parents achieved.

“American meritocracy has thus become precisely what it was invented to combat,” Markovits concluded, “a mechanism for the dynastic transmission of wealth and privilege across generations. Meritocracy now constitutes a modern-day aristocracy.”.....
Daniel_Markovits  baby_boomers  entrepreneur  income_inequality  politics  revenge_effects  Steven_Brill  political_polarization  fractured_internally  books  meritocratic  America_in_Decline?  elitism  lawyers  self-perpetuation  upper-income  inequality  privilege  the_best_and_brightest  tailspins  guardrails  the_American_dream  cultural_transmission  wealth_transfers  partisan_politics 
may 2018 by jerryking
When algorithms reinforce inequality
FEBRUARY 9, 2018 | FT | Gillian Tett.

Virginia Eubanks, a political science professor in New York, undertakes academic research was focused on digital innovation and welfare claims. ......Last month, she published Automating Inequality, a book that explores how computers are changing the provision of welfare services in three US regions: Indiana, Los Angeles and Pittsburgh. It focuses on public sector services, rather than private healthcare insurance, but the message is the same: as institutions increasingly rely on predictive algorithms to make decisions, peculiar — and often unjust — outcomes are being produced. And while well-educated, middle-class people will often fight back, most poor or less educated people cannot; nor will they necessarily be aware of the hidden biases that penalise them....Eubanks concludes, is that digital innovation is reinforcing, rather than improving, inequality. ...What made the suffering doubly painful when the computer programs got it wrong was that the victims found it almost impossible to work out why the algorithms had gone against them, or to find a human caseworker to override the decision — and much of this could be attributed to a lack of resources....a similar pattern is described by the mathematician Cathy O’Neil in her book Weapons of Math Destruction. “Ill-conceived mathematical models now micromanage the economy, from advertising to prisons,” she writes. “They’re opaque, unquestioned and unaccountable and they ‘sort’, target or optimise millions of people . . . exacerbating inequality and hurting the poor.”...Is there any solution? O’Neil and Eubanks suggest that one option would be to require technologists to sign something equivalent to the Hippocratic oath, to “first do no harm”. A second — more costly — idea would be to force institutions using algorithms to hire plenty of human caseworkers to supplement the digital decision-making.

A third idea would be to ensure that the people who are creating and running the computer programs are forced to think about culture, in its broadest sense.....until now digital nerds at university have often had relatively little to do with social science nerds — and vice versa.

Computing has long been perceived to be a culture-free zone — this needs to change. But change will only occur when policymakers and voters understand the true scale of the problem. This is hard when we live in an era that likes to celebrate digitisation — and where the elites are usually shielded from the consequences of those algorithms.
Gillian_Tett  Cathy_O’Neil  algorithms  inequality  biases  books  dark_side  Pittsburgh  poverty  low-income 
february 2018 by jerryking
The Ivory Tower Can’t Keep Ignoring Tech
NOV. 14, 2017 | The New York Times | By Cathy O’Neil is a data scientist and author of the book “Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy. Follow her on Twitter at @mathbabedotorg.

We urgently need an academic institute focused on algorithmic accountability.

First, it should provide a comprehensive ethical training for future engineers and data scientists at the undergraduate and graduate levels, with case studies taken from real-world algorithms that are choosing the winners from the losers. Lecturers from humanities, social sciences and philosophy departments should weigh in.

Second, this academic institute should offer a series of workshops, conferences and clinics focused on the intersection of different industries with the world of A.I. and algorithms. These should include experts in the content areas, lawyers, policymakers, ethicists, journalists and data scientists, and they should be tasked with poking holes in our current regulatory framework — and imagine a more relevant one.

Third, the institute should convene a committee charged with reimagining the standards and ethics of human experimentation in the age of big data, in ways that can be adopted by the tech industry.

There’s a lot at stake when it comes to the growing role of algorithms in our lives. The good news is that a lot could be explained and clarified by professional and uncompromised thinkers who are protected within the walls of academia with freedom of academic inquiry and expression. If only they would scrutinize the big tech firms rather than stand by waiting to be hired.
algorithms  accountability  Cathy_O’Neil  Colleges_&_Universities  data_scientists  ethics  inequality  think_tanks  Big_Tech 
november 2017 by jerryking
Can we ever knock down the walls of the wealthy ghetto?
Jul. 15, 2017 | The Globe and Mail | DOUG SAUNDERS.

Fifty-two years ago, sociologist John Porter demonstrated, in his bestseller The Vertical Mosaic, that Canada's economy, its politics and its culture were controlled by a cloistered elite from the same schools and neighbourhoods, and only 3 per cent of Canadians had any access to this circle. Social mobility has improved dramatically thanks to half a century of immigration, growth and better social policies. But the top ranks remain closed and self-protective.

There are two factors in particular that make Canada's cycle of privilege a closed loop that excludes outsiders.

The first is Canada's lack of an inheritance tax. Estates (including houses) are taxed as income upon their owner's death, then can be passed on to children – removing incentives to put that wealth to better and more productive use. As a result, the higher rungs on the ladder are less open to people who have developed creative, profitable companies and ideas, and more so to people who have simply had the right parents.

The second is Canada's lax policy on private schools. The 6 per cent of Canadians who attend fee-charging schools are overwhelmingly there because their families are wealthy (studies show that their advantages are entirely found in their connections, not in their academic performance).
Canada  Canadians  high_net_worth  privilege  Doug_Saunders  cumulative  social_mobility  social_classes  private_schools  inheritance_tax  elitism  compounded  inequality  geographic_sorting  college-educated  super_ZIPs  self-perpetuation  upper-income 
july 2017 by jerryking
How We Are Ruining America
JULY 11, 2017 | The New York Times | David Brooks.

Over the past generation, members of the college-educated class have become amazingly good at making sure their children retain their privileged status. They have also become devastatingly good at making sure the children of other classes have limited chances to join their ranks.....Over the past few decades, upper-middle-class Americans have embraced behavior codes that put cultivating successful children at the center of life. As soon as they get money, they turn it into investments in their kids......Richard Reeves of the Brookings Institution recently published a book called “Dream Hoarders” detailing some of the structural ways the well educated rig the system.

The most important is residential zoning restrictions. Well-educated people tend to live in places like Portland, New York and San Francisco that have housing and construction rules that keep the poor and less educated away from places with good schools and good job opportunities.....second structural barrier is the college admissions game. Educated parents live in neighborhoods with the best teachers, they top off their local public school budgets and they benefit from legacy admissions rules, from admissions criteria that reward kids who grow up with lots of enriching travel and from unpaid internships that lead to jobs.....the structural barriers emphasized are less important than the informal social barriers that segregate the lower 80 percent (e.g. being aware of cultural signifiers around, say, gourmet food)

.......American upper-middle-class culture (where the opportunities are) is now laced with cultural signifiers that are completely illegible unless you happen to have grown up in this class (i.e. excelling at being socially graceful). They play on the normal human fear of humiliation and exclusion. Their chief message is, “You are not welcome here.”
David_Brooks  social_mobility  Colleges_&_Universities  socially_graceful  inequality  geographic_sorting  college-educated  super_ZIPs  self-perpetuation  values  opportunity_gaps  upper-income  social_exclusion  books  structural_barriers  admissions  elitism  social_classes  zoning  restrictions  social_barriers  cultural_signifiers  privilege  gaming_the_system  unfair_advantages  ruination  rituals 
july 2017 by jerryking
What I learned in Ferguson - The Globe and Mail
OMAR EL AKKAD
What I learned in Ferguson
SUBSCRIBERS ONLY
The Globe and Mail
Published Sunday, Dec. 07 2014

...the underlying, centuries-old imbalances that allow such a thing to happen. ...an entire urban structure built on inequality....Last weekend, the Globe published a story on how the Ferguson protests have become an American phenomenon, sparking a nationwide conversation on race, poverty and violence. But where there is a story about breadth, there is also a story about depth....the fault lines of segregation exist not along one axis but two: race and wealth....To make ends meet, municipalities such as Ferguson have resorted to more direct means – namely, fees and court fines. Jaywalking and speeding citations aren’t just a tool for enforcing public safety, they’ve increasingly become a financial necessity.

But beyond creating a sense of resentment among the citizenry, these revenue tools have direct and sometimes life-changing consequences. In a place where the median household income is about $37,500 (roughly $10,000 less than the state average), tickets often go unpaid, leading to a warrant, which in turn can lead to arrest, destroying job prospects in the process.

But there’s more. In Missouri, those on parole or probation are not allowed to vote. That means a fine that started out as a financial measure for the municipality can end up as a tool of political disenfranchisement.
Omar_el_Akkad  Ferguson  life-changing  resentments  police_brutality  structural_change  inequality  segregation  disenfranchisement  fault_lines  municipalities  institutional_path_dependency  imbalances 
december 2014 by jerryking
Fighting inequality is not a job for Toronto’s new mayor - The Globe and Mail
KONRAD YAKABUSKI
The Globe and Mail
Published Thursday, Dec. 04 2014,

Inequality is a society-wide phenomenon best addressed through national and provincial policy tools – partly taxes, but mostly by fostering equality of opportunity with good public schools and health care.

Besides, a higher minimum wage for Toronto alone would only end up hurting those it is meant to help, leading to fewer hours, less job creation and a shift in employment to the suburbs. It would also drive up the cost of living for those least able to absorb it.

City governments can do their part to mitigate inequality by creating safe neighbourhoods, with parks and recreation facilities, accessible public transit and by providing adequate social housing to those who truly need it. Mr. Tory will have his hands full as it is.
Konrad_Yakabuski  mayoral  Toronto  John_Tory  inequality  policy_tools  equality_of_opportunity  public_schools  public_transit  neighbourhoods  parks  social_housing 
december 2014 by jerryking
Who Will Prosper in the New World - NYTimes.com
August 31, 2013 | NYT | By TYLER COWEN.
Who Will Prosper in the New World

Who will do well?

THE CONSCIENTIOUS
PEOPLE WHO LISTEN TO COMPUTERS
PEOPLE WITH A MARKETING TOUCH
MOTIVATORS
==================================================
Who will be most likely to suffer from this technological revolution?
PEOPLE WITH DELICATE FEELINGS
PEOPLE UNLUCKY IN HEALTH CARE
PEOPLE WHO DON’T NEED MONEY
POLITICAL RADICALS:
technology  economics  productivity  the_Great_Decoupling  career_paths  winner-take-all  automation  Tyler_Cowen  marketing  motivations  inequality  income_distribution  income_inequality  downward_mobility 
september 2013 by jerryking
The middle class is good politics but a curious crusade
Aug. 03 2013 | The Globe and Mail | Konrad Yakabuski.

A “thriving middle class” won’t come from new programs hatched in Ottawa. It will come from the innovators and entrepreneurs who harness Canada’s abundant human capital and natural resources to create wealth.

as TD Economics has shown, Canada has not experienced the same wage polarization that has led to rising income inequality south of the border. Social mobility is higher here and our tax system is more progressive. The after-tax income of the top 10 per cent of Canadians was 4.1 times that of the bottom 10 per cent in 2010. The U.S. ratio was 6 to 1.

There is no doubt that globalization and technological change have rendered thousands of middle-class Canadian jobs obsolete. But there is no reversing this trend, no matter how much would-be federal policy-makers aspire to meddle. Besides, globalization’s upsides outweigh its downsides. And Canadians, among the best-educated people on the planet, stand to benefit.

“Rewards to education, to innovation and to creativity are higher than they have ever been,” notes Princeton University economist Angus Deaton in The Great Escape, his forthcoming book on the history of inequality. “Perhaps the greatest escape in all of human history, and certainly the most rapid one [is] the reduction in global poverty since 1980 … The world has done much better than the pessimists predicted.”
Konrad_Yakabuski  globalization  Chrystia_Freeland  obsolescence  middle_class  technological_change  social_mobility  Toronto  expatriates  inequality  books  income_inequality  capitalization 
august 2013 by jerryking
Who's Your Daddy?
July 20, 2013 | NYT |By MILES CORAK

Better job opportunities for the children of the top 1 percent deepen our cynicism about how people get ahead....Hard work and perseverance will always be ingredients for success, but higher inequality has sharply tilted the landscape and made having successful parents, if not essential, certainly a central part of the recipe....THE Danish and Canadian top 1 percent certainly have their share of privilege: the Gus Wenners of the world, talented or not, are not rare. A recent study published by the Russell Sage Foundation showed that about 30 percent of young Danes and 40 percent of Canadians had worked with a firm that at some point also employed their fathers. This is more likely the higher the father’s place on the income ladder, rising distinctly and sharply for top earners. In Denmark more than half of sons born to the top 1 percent of fathers had worked for an employer for whom the father also worked, and in Canada the proportion is even higher at nearly 7 of every 10.

This is on a par with the United States, where, according to a 2006 study, up to half of jobs are found through families, friends or acquaintances, with higher wages being paid to those who found jobs through “prior generation male relatives” who actually knew the potential employer or served as a reference.
nepotism  movingonup  income_distribution  self-perpetuation  winner-take-all  inequality  privilege  myths  opportunities  The_One_Percent  income_inequality  hard_work  compounded  upper-income 
july 2013 by jerryking
Sharing the wealth can create prosperity - The Globe and Mail
CHRYSTIA FREELAND

Special to The Globe and Mail

Published Thursday, Nov. 29 2012

When Branko Milanovic, a World Bank economist, published The Haves and the Have-Nots, a study of global income inequality last year, one of his most striking observations was the extent to which the subject was taboo in the United States....As the book (Inequality in America. by Kemal Dervis)argues, “rebalancing of the distribution of income may play a role in unlocking the U.S. economy’s growth potential in a sustainable way.”

Now that is a truly radical thought, and it brings us back to Mr. Milanovic’s earlier view that income inequality was a forbidden subject in the United States.

Worrying about the poor is one thing. To contend that equality is necessary for growth is an altogether different and more radical idea. Three decades later, trickle-down economics has met its antithesis. We are set for one of the great battles of ideas of our time.
Chrystia_Freeland  income_distribution  inequality  radical_ideas 
november 2012 by jerryking
Two Classes in America, Divided by ‘I Do’ - NYTimes.com
July 14, 2012 | NYT | By JASON DePARLE.

The economic storms of recent years have raised concerns about growing inequality and questions about a core national faith, that even Americans of humble backgrounds have a good chance of getting ahead. Most of the discussion has focused on labor market forces like falling blue-collar wages and lavish Wall Street pay.

But striking changes in family structure have also broadened income gaps and posed new barriers to upward mobility. College-educated Americans like the Faulkners are increasingly likely to marry one another, compounding their growing advantages in pay. Less-educated women like Ms. Schairer, who left college without finishing her degree, are growing less likely to marry at all, raising children on pinched paychecks that come in ones, not twos.

Estimates vary widely, but scholars have said that changes in marriage patterns — as opposed to changes in individual earnings — may account for as much as 40 percent of the growth in certain measures of inequality.
marriage  parenting  family  family_breakdown  income  income_distribution  Matthew_effect  social_classes  college-educated  social_mobility  self-perpetuation  compounded  blue-collar  inequality 
july 2012 by jerryking
The Inequality Obsession
April 17, 2012 | WSJ | By HOLMAN W. JENKINS, JR.

Jenkins: The Inequality Obsession
Why is it in America's interest to persuade the rich to report less income?
inequality  Holman_Jenkins  income_distribution 
may 2012 by jerryking
Romney’s Former Bain Partner Makes a Case for Inequality - NYTimes.com
By ADAM DAVIDSON
Published: May 1, 2012

“Unintended Consequences: Why Everything You’ve Been Told About the Economy Is Wrong,

Now we’re at a particularly crucial moment, he writes. Technology and global competition have made it more important than ever that the United States remain the world’s most productive, risk-taking, success-rewarding society. Obama, Conard says, is “going to dampen the incentives.” Even worse, Conard says, “he’s slowing the accumulation of equity” by fighting income inequality. Only with a pro-investment president, he says, can the American economy reach its full potential.
high_net_worth  Bain  inequality  Mitt_Romney  books  innovation  unintended_consequences  incentives  income_inequality  Occupy_Wall_Street 
may 2012 by jerryking
Losing Our Way - NYTimes.com
By BOB HERBERT
March 25, 2011
So here we are pouring shiploads of cash into yet another war, this time
in Libya, while simultaneously demolishing school budgets, closing
libraries, laying off teachers and police officers, and generally
letting the bottom fall out of the quality of life here at home. Welcome
to America in the second decade of the 21st century. An army of
long-term unemployed workers is spread across the land, the human
fallout from the Great Recession and long years of misguided economic
policies.
op-ed  Bob_Herbert  income_distribution  disparities  inequality  income_inequality 
march 2011 by jerryking
Race, culture and equality
June 18, 1998 | Forbes magazine | Dr. Thomas Sowell. This
article was adapted from a speech made by Dr. Sowell at the Commonwealth
Club of California in San Francisco. Comments on how common huge
disparities in income and wealth have been for centuries, in countries
around the world. Some of these disparities have been among racial or
ethnic groups, some among nations, and some among regions, continents or
whole civilizations.
Thomas_Sowell  disparities  achievement_gaps  income_distribution  inequality  racial_disparities  ethnic_communities 
april 2009 by jerryking

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