Economic Inequality And Policy Control In The United States
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Economic Inequality And Policy Control In The United States
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Author : M. Stelzner
language : en
Publisher: Springer
Release Date : 2015-01-23
Economic Inequality And Policy Control In The United States written by M. Stelzner and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-01-23 with Political Science categories.
The income share of the top one percent of the population in the United States has increased from a little over nine percent of national income in the 1970s to 22.46 percent in 2012 a 144 percent increase. What is driving this astronomic growth in incomes for some? Is it possibly the result of non-meritorious forces? If so, how has this incredibly unequal development coexisted, and indeed worsened, in a political system based on equality? In Economic Inequality and Policy Control in the United States, Stelzner tackles each of these questions, and, in order to further develop understanding, Stelzner looks to the past and analyzes our experience with income inequality and the orientation of laws and institutions from the Gilded Age through the New and Fair Deal. He concludes that we have the tools to tackle inequality at present the same policies we used during the New and Fair Deal. However, in order to make change durable, we have to eliminate the undemocratic elements of our political system.
Affluence And Influence
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Author : Martin Gilens
language : en
Publisher: Princeton University Press
Release Date : 2012-07-22
Affluence And Influence written by Martin Gilens and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-22 with Political Science categories.
Why policymaking in the United States privileges the rich over the poor Can a country be a democracy if its government only responds to the preferences of the rich? In an ideal democracy, all citizens should have equal influence on government policy—but as this book demonstrates, America's policymakers respond almost exclusively to the preferences of the economically advantaged. Affluence and Influence definitively explores how political inequality in the United States has evolved over the last several decades and how this growing disparity has been shaped by interest groups, parties, and elections. With sharp analysis and an impressive range of data, Martin Gilens looks at thousands of proposed policy changes, and the degree of support for each among poor, middle-class, and affluent Americans. His findings are staggering: when preferences of low- or middle-income Americans diverge from those of the affluent, there is virtually no relationship between policy outcomes and the desires of less advantaged groups. In contrast, affluent Americans' preferences exhibit a substantial relationship with policy outcomes whether their preferences are shared by lower-income groups or not. Gilens shows that representational inequality is spread widely across different policy domains and time periods. Yet Gilens also shows that under specific circumstances the preferences of the middle class and, to a lesser extent, the poor, do seem to matter. In particular, impending elections—especially presidential elections—and an even partisan division in Congress mitigate representational inequality and boost responsiveness to the preferences of the broader public. At a time when economic and political inequality in the United States only continues to rise, Affluence and Influence raises important questions about whether American democracy is truly responding to the needs of all its citizens.
Economic Inequality In The United States
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Author : Lars Osberg
language : en
Publisher: Routledge
Release Date : 2015-12-22
Economic Inequality In The United States written by Lars Osberg and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-22 with Business & Economics categories.
Originally published in 1984, this study explores multiple theoretical perspectives as well as critically analysing the most recent evidence at the time to try and find a full explanation for inequality in the United States. Arguments of neoclassical economists and Marxist and institutional structuralists are considered by Osberg as well as putting forward his own model. Osberg uses his findings to attempt a complete explanation of the issue and advises on policies which could be undertaken by the government to try and lessen the gap. This title will be of interest to students of Economics.
Engine Of Inequality
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Author : Karen Petrou
language : en
Publisher: John Wiley & Sons
Release Date : 2021-03-03
Engine Of Inequality written by Karen Petrou and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-03 with Business & Economics categories.
The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book: Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.
America S Inequality Trap
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Author : Nathan J. Kelly
language : en
Publisher: University of Chicago Press
Release Date : 2020-02-11
America S Inequality Trap written by Nathan J. Kelly and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-11 with Political Science categories.
The gap between the rich and the poor has grown dramatically in the United States and is now at its widest since at least the early 1900s. While by most measures the economy has been improving, soaring cost of living and stagnant wages have done little to assuage economic anxieties. Conditions like these seem designed to produce a generation-defining intervention to balance the economic scales and enhance opportunities for those at the middle and bottom of the country’s economic ladder—but we have seen nothing of the sort. Nathan J. Kelly argues that a key reason for this is that rising concentrations of wealth create a politics that makes reducing economic inequality more difficult. Kelly convincingly shows that, when a small fraction of the people control most of the economic resources, they also hold a disproportionate amount of political power, hurtling us toward a self-perpetuating plutocracy, or an “inequality trap.” Among other things, the rich support a broad political campaign that convinces voters that policies to reduce inequality are unwise and not in the average voter’s interest, regardless of the real economic impact. They also take advantage of interest groups they generously support to influence Congress and the president, as well as state governments, in ways that stop or slow down reform. One of the key implications of this book is that social policies designed to combat inequality should work hand-in-hand with political reforms that enhance democratic governance and efforts to fight racism, and a coordinated effort on all of these fronts will be needed to reverse the decades-long trend.
The New Economic Populism
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Author : William Franko
language : en
Publisher: Oxford University Press
Release Date : 2017-10-25
The New Economic Populism written by William Franko and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-25 with Political Science categories.
Donald Trump's 2016 victory shocked the world, but his appeals to the economic discontent of the white working class should not be so surprising, as stagnant wages for the many have been matched with skyrocketing incomes for the few. Though Trump received high levels of support from the white working class, once in office, the newly elected billionaire president appointed a cabinet with a net worth greater than one-third of American households combined. Furthermore, he pursued traditionally conservative tax, welfare state and regulatory policies, which are likely to make economic disparities worse. Nevertheless, income inequality has grown over the last few decades almost regardless of who is elected to the presidency and congress. There is a growing consensus among scholars that one of the biggest drivers of income inequality in the United States is government activity (or inactivity). Just as the New Deal and Great Society programs played a key role in leveling income distribution from the 1930s through the 1970s, federal policy since then has contributed to expanding inequality. Growing inequality bolsters the resources of the wealthy leading to greater influence over policy, and it contributes to partisan polarization. Both prevent the passage of policy to address inequality, creating a continuous feedback loop of growing inequality. The authors of this book argue that it is therefore misguided to look to the federal government, as citizens have tended to do since the New Deal, to lead on economic policy to "fix" inequality. In fact, they argue that throughout American history, during periods of rapid economic change the federal government has been stymied by the federal institutional design created by the Constitution. The winners of economic change have taken advantage of veto points to prevent change that would address the problems experienced by the losers of major economic change. Even the New Deal, in many ways the model of federal policy activism, was largely borrowed from policies created in the state "laboratories of democracy" in the preceding years and decades. The authors argue that in the current crisis of growing inequality we are seeing a similar dynamic and demonstrate that many states are actively addressing economic inequality. William Franko and Christopher Witko argue that the states that will address inequality are not necessarily those with the greatest objective inequality, but those where citizens are aware of growing inequality, where left-leaning politicians hold power, where unions are strong, and where the presence of direct democracy allow for more majoritarian public policy outcomes. In the empirical chapters Franko and Witko examine how these factors have shaped policies that boosted incomes at the bottom (the minimum wage and the Earned Income Tax Credit) and reduce incomes at the top (with top marginal tax rates) between 1987 and 2010. The authors argue that, if history is a guide, increasingly egalitarian policies at the state level will spread to other states and, eventually, to the federal level, setting the stage for a more equitable future.
The Politics Of Income Inequality In The United States
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Author : Nathan J. Kelly
language : en
Publisher: Cambridge University Press
Release Date : 2009-03-30
The Politics Of Income Inequality In The United States written by Nathan J. Kelly and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-30 with Business & Economics categories.
Using income surveys and various political-economic data, this book shows that income inequality is fundamental to the dynamics of US politics.
The Politics Of Income Inequality In The United States
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Author : Nathan J. Kelly
language : en
Publisher: Cambridge University Press
Release Date : 2009-03-30
The Politics Of Income Inequality In The United States written by Nathan J. Kelly and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-30 with Political Science categories.
This book revolves around one central question: do political dynamics have a systematic and predictable influence on distributional outcomes in the United States? The answer is a resounding yes. Utilizing data from mass income surveys, elite surveys and aggregate time series, as well as theoretical insights from both American and comparative politics, Kelly shows that income inequality is a fundamental part of the US macro political system. Shifts in public opinion, party control of government and the ideological direction of policy all have important consequences for distributional outcomes. Specifically, shifts to the left produce reductions in inequality through two mechanisms - explicit redistribution and market conditioning. Whereas many previous studies focus only on the distributional impact of redistribution, this book shows that such a narrow strategy is misguided. In fact, market mechanisms matter far more than traditional redistribution in translating macro political shifts into distributional outcomes.
The Effects Of Monetary Policy Shocks On Inequality
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Author : Davide Furceri
language : en
Publisher: International Monetary Fund
Release Date : 2017-01-18
The Effects Of Monetary Policy Shocks On Inequality written by Davide Furceri and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-18 with Business & Economics categories.
This paper provides new evidence of the effect of monetary policy shocks on income inequality. Using a measure of unanticipated changes in policy rates for a panel of 32 advanced and emerging market countries over the period 1990-2013, the paper finds that contractionary (expansionary) monetary actions increase (reduce) income inequality. The effect, however, varies over time, depending on the type of the shocks (tightening versus expansionary monetary policy) and the state of the business cycle, and across countries depending on the share of labor income and redistribution policies. In particular, we find that the effect is larger for positive monetary policy shocks, especially during expansions. Looking across countries, we find that the effect is larger in countries with higher labor share of income and smaller redistribution policies. Finally, while an unexpected increase in policy rates increases inequality, changes in policy rates driven by an increase in growth are associated with lower inequality.
Political Power And Economic Inequality
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Author : Charles F. Andrain
language : en
Publisher: Rowman & Littlefield
Release Date : 2014-02-14
Political Power And Economic Inequality written by Charles F. Andrain and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-14 with Political Science categories.
Political Power and Economic Inequality offers a balanced comparative analysis of worldwide income inequality. Charles F. Andrain explores the ways that government institutions, political parties, private corporations, labor unions, and protest movements influence public programs. How do these organizations mobilize resources so that their preferences become government decisions? What impact do these policies have on different geographic regions, occupations, ethnic-religious groups, and genders? Drawing on comprehensive worldwide data, the author highlights the similarities and differences among nations. By focusing on global trends, he explains the connections that link domestic conditions with foreign trade, overseas investment, labor migration, and communications media. Andrain argues that the globalization of income inequality explains contemporary political life in the United States as well as in other parts of the world. To fully understand global income distribution, we need to grasp how historical changes affect these trends, why social movements stage protests against the growing income gap, and how a comparative approach best explains income differences. Andrain’s tightly written interdisciplinary study stresses the impact of this problem on political life and social change in the United States, Europe, Asia, and Latin America. The comparative evidence probes the full dynamics of this controversial issue and its consequences for society as a whole.