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From Great Depression to Great Recession (lesson plan)
From Great Depression to Great Recession (C/C):
Fireside Chats, Speeches, and Ideology in Times of Economic Turmoil in the United States​
lessons  history  Economics  politics 
9 days ago by oripsolob
NYTimes: From Trump to Trade, the Financial Crisis Still Resonates 10 Years Later
It is hardly a stretch to suggest that President Trump’s election was a direct result of the financial crisis.

The crisis was a moment that cleaved our country. It broke a social contract between the plutocrats and everyone else. But it also broke a sense of trust, not just in financial institutions and the government that oversaw them, but in the very idea of experts and expertise. The past 10 years have seen an open revolt against the intelligentsia.

Mistrust led to new political movements: the Tea Party for those who didn’t trust the government and Occupy Wall Street for those who didn’t trust big business. These moved Democrats and Republicans away from each other in fundamental ways, and populist attitudes on both ends of the spectrum found champions in the 2016 presidential race in Senator Bernie Sanders and Donald J. Trump.
...

“Our conclusion: Financial crises tend to radicalize electorates,” Mr. Sufi wrote. “After a banking, currency, or debt crisis, our data indicate, the share of centrists or moderates in a country went down, while the share of left- or right-wing radicals went up in most cases.”
history  politics  election  economics  money 
september 2018 by oripsolob
The Danger From Low-Skilled Immigrants: Not Having Them - The New York Times
“Ten years from now, there are going to be lots of older people with relatively few low-skilled workers to change their bedpans,” said David Card, a professor of economics at the University of California, Berkeley. “That is going to be a huge problem.”

But the argument for low-skilled immigration is not just about filling an employment hole. The millions of immigrants of little skill who swept into the work force in the 25 years up to the onset of the Great Recession — the men washing dishes in the back of the restaurant, the women emptying the trash bins in office buildings — have largely improved the lives of Americans.
labor  politics  inequalities  Economics  history 
august 2017 by oripsolob
How to Make America Greater: More Immigration - The New York Times
Eduardo Porter:
While President Trump promises to curb immigration, research suggests a straightforward way to bulk up the economy would be to let more immigrants in.
economics  history  politics  election 
march 2017 by oripsolob
Is Trump’s Biggest Demographic Poorly Educated or Poor? Here’s Why It Matters - Sociological Images
Highlighting the economic reality for people without college degrees in the U.S. tells a very different story than highlighting the fact that they don’t have college degrees. The former renders an image of a voting contingent who, in the face of personal economic hardship that contrasts with national economic gain, are frustrated and eager to try something — anything — new. The latter renders an image of ignorance.
class  economics  inequalities  education  sociology  election  politics 
december 2016 by oripsolob
A massive new study debunks a widespread theory for Donald Trump’s success - The Washington Post
Trump has found success playing up economic grievances, stoking anxieties about immigrants, and complaining about Chinese competition. How is it then, that so many of his supporters seem to be economically secure? It could be that Trump supporters aren't worried for themselves, but for their children.

Among those who are similar in terms of income, education and other factors, those who view Trump favorably are more likely to be found in white enclaves — racially isolated Zip codes where the amount of diversity is lower than in surrounding areas.
mythology  sociology  health  economics  money  politics  election  race  inequalities  fb 
august 2016 by oripsolob
Pokémon Go is everything that is wrong with late capitalism - Vox
There may be more that central banks can do to boost demand. If that doesn’t work, then more direct income redistribution may be called for — taxing rich people in high-growth areas to fund expanded government services, wage subsidies, or even cash payments to people in slower-growing parts of the country.
apps  inequalities  class  money  economics  games  fb 
july 2016 by oripsolob
The Fall And Rise Of U.S. Inequality, In 2 Graphs : Planet Money : NPR
In the first phase, known as the great compression, inequality fell. Incomes rose for people in the bottom 90 percent of the income distribution, as the postwar boom led to high demand for workers with low and moderate skills. At the same time, income was basically stagnant for the top 1 percent of earners. A combination of high marginal tax rates (around 80 percent) for the wealthy, and social norms, may have kept a lid on wages at the top, according to the economists who gathered the data we used to make the graphs. In the last 35 years, the reverse occurred. Top marginal tax rates fell sharply. Incomes rose for those in the top 1 percent, largely driven by rapidly rising pay for top executives. At the same time, a combination of global competition, automation, and declining union membership, among other factors, led to stagnant wages for most workers.
money  class  sociology  ais  economics  inequalities  design 
february 2015 by oripsolob
Inequality Is Not Inevitable
Our current brand of capitalism is an ersatz capitalism. For proof of this go back to our response to the Great Recession, where we socialized losses, even as we privatized gains. Perfect competition should drive profits to zero, at least theoretically, but we have monopolies and oligopolies making persistently high profits. C.E.O.s enjoy incomes that are on average 295 times that of the typical worker, a much higher ratio than in the past, without any evidence of a proportionate increase in productivity. If it is not the inexorable laws of economics that have led to America’s great divide, what is it? The straightforward answer: our policies and our politics. People get tired of hearing about Scandinavian success stories, but the fact of the matter is that Sweden, Finland and Norway have all succeeded in having about as much or faster growth in per capita incomes than the United States and with far greater equality.
money  inequalities  ais  economics  sociology 
august 2014 by oripsolob
On Iraq, Echoes of 2003 - NYTimes.com
The war claimed 4,500 American lives and, according to a mortality study published in a peer-reviewed American journal, 500,000 Iraqi lives. Linda Bilmes, a Harvard expert in public finance, tells me that her latest estimate is that the total cost to the United States of the Iraq war will be $4 trillion. That’s a $35,000 tax on the average American household. The total would be enough to ensure that all children could attend preschool in the United States, that most people with AIDS worldwide could receive treatment, and that every child worldwide could attend school — for the next 83 years. Instead, we financed a futile war that was like a Mobius strip, bringing us right back to an echo of where we started.
iraq  war  economics  money  inequalities  ais 
june 2014 by oripsolob
One Key to Success: A Belief in a Future - NYTimes.com
The income gap has surged past the peak reached in the Roaring Twenties, raising doubts over whether the engine of economic opportunity has been choked off for all except the most fortunate or talented, perpetuating vast inequalities. We have only a vague idea, however, of how the process may work. Economists identified what Alan B. Krueger, President Obama’s former chief economic adviser, called “The Great Gatsby Curve.” Economic mobility is weaker in countries (and states) with bigger income gaps. But nobody has explained convincingly how inequality today might gum up the cogs of opportunity for the next generation. Recent research by Melissa S. Kearney of the University of Maryland and Phillip B. Levine of Wellesley College provide what might be the missing link: Inequality may perpetuate itself down the generations by messing up the decisions of underprivileged youth. In a research paper to be published next week by the National Bureau of Economic Research, Ms. Kearney and Mr. Levine detail robust evidence that young men of low socioeconomic status are more likely to drop out of high school, where the gap between families at the bottom tenth of the income distribution and families in the middle is wider.
education  inequalities  sociology  ais  economics 
june 2014 by oripsolob
Changed Life of the Poor: Better Off, but Far Behind - NYTimes.com
Big screen TVs and cell phones are more affordable, but a college education is not.
ais  money  inequalities  class  technology  education  sociology  economics 
may 2014 by oripsolob
SPENT
30-day simulation (does not last 30 days)
economics  socialstudies  class  money  design  ais  history  sociology  inequalities 
january 2014 by oripsolob
The “middle class” myth: Here’s why wages are really so low today - Salon.com
The fact that many of today’s college graduates have the same standard of living as the lowest-skilled workers of the 1960s proves that attitude is wrong, wrong, wrong. If we want to restore what we’ve traditionally thought of as the middle class, we have to stop thinking of ourselves as middle class, no matter how much we earn, or what we do to earn it. “Working class” should be defined by your relationship to your employer, not whether you perform physical labor. Unless you own the business, you’re working class.
labor  economics  class  history  inequalities  money  education  ais 
january 2014 by oripsolob
New data shows school “reformers” are full of it - Salon.com
But we’ve now reached the point where the economics-omitting “reform” propaganda has jumped the shark, going from deceptively alluring to embarrassingly transparent. That’s because the latest Department of Education study isn’t being released in a vacuum; it caps off an overwhelming wave of evidence showing that our education crisis has far less to do with public schools or bad teachers than it does with the taboo subject of crushing poverty.
inequalities  money  class  economics  education 
june 2013 by oripsolob
Politicians, Pork, and Photographers
How the Government Accidentally Created the Golden Age of American Photography
AIS  gender  women  economics  history  photography 
october 2012 by oripsolob
How the US Govt Accidentally Created the Golden Age of American Photography
Politicians will be politicians, though, and Franklin D. Roosevelt (and a lot of Democratic Congressmen) was up for reelection. Bureaucrats will be bureaucrats and protect their agencies and jobs. So the FSA opened an Information Division to ‘educate’ the public about all the good it was doing. The resulting propaganda blitz was more successful than they could have hoped.
Read more at http://www.petapixel.com/2012/10/16/how-the-government-accidentaly-created-the-golden-age-of-american-photography/#rUMR8zKWlAhApTom.99
gender  women  economics  AIS  history  photography 
october 2012 by oripsolob
Predict Obama's odds in the 2012 election
Political scientists at George Washington, Yale and UCLA believe most elections can be predicted with just a few pieces of information. They created a formula that uses economic growth, presidential approval ratings in June and incumbency to forecast President Obama’s share of the two-party vote in the Nov. 6 election
economics  politics  design  2012  election 
september 2012 by oripsolob
Flathead: The peculiar genius of Thomas L. Friedman.
Things are true because you say they are. The only thing that matters is how sure you sound when you say it. In politics, this allows America to invade a castrated Iraq in self-defense. In the intellectual world, Friedman is now probing the outer limits of this trick’s potential, and it’s absolutely perfect, a stroke of genius, that he’s choosing to argue that the world is flat. The only thing that would have been better would be if he had chosen to argue that the moon was made of cheese.

And that’s basically what he’s doing here. The internet is speeding up business communications, and global labor markets are more fluid than ever. Therefore, the moon is made of cheese. That is the rhetorical gist of The World is Flat. It’s brilliant. Only an America-hater could fail to appreciate it.
humor  economics  history  modern  books 
march 2012 by oripsolob
The iPhone Economy
"We've become a nation with fewer chances for people to climb into the middle class."

Goods-producing versus Service-providing economy
AIS  inequalities  iphone  economics 
february 2012 by oripsolob
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