Economy

The Richer Sex

March 20, 2012

Bestselling journalist Liza Mundy’s smart, deeply reported analysis of the most important cultural shift since the rise of feminism: the coming era in which women will earn more than men, and how this will change work, love, and sex.

A revolution is under way. Within a generation, more households will be supported by women than by men. In The Richer Sex, Liza Mundy shows how this reality will transform the sexual, dating, marriage, and work habits of men and women worldwide.

Cordray Has Received Bipartisan Support

  • By
  • Reid Cramer,
  • New America Foundation
January 6, 2012 |

The CFPB is the law of the land. The agency was created last year when the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed by Congress and signed by the president. This is how laws are made. It says so in the Constitution. A minority of senators can't decide on their own to nullify the law. And tellingly, few are raising the objection that Richard Cordray is unqualified for the post. In fact, he has received glowing and bipartisan support, especially from those he worked when he served as attorney general for Ohio.

Inequality and the Global Crisis -- Evidence and Policies

  • By Raymond Torres, International Labour Organization
January 5, 2012

This presentation was part of the World Economic Roundtable.  A summary of the Roundtable session can be read here.

Inequality, Leverage and Crises

  • By Michael Kumhof, International Monetary Fund and Romain Ranciere, International Monetary Fund and Paris School of Economics
January 5, 2012

This presentation was part of the World Economic Roundtable.  A summary of the Roundtable session can be read here.

New Feature: Asset Building News Week

January 6, 2012
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Way back in 2011, we conducted a survey of readers that told us a number of things: importantly, we learned that many of you look to us for timely news from the asset building field and that a regular round-up of articles would be a welcome addition to our other content. In keeping with the spirit of 2012 and resolutions and all that good stuff, the Asset Building Program is introducing a new weekly blog feature: a Friday news round-up. We hope this will help you (and us, for that matter) keep up with developments in the field, note-worthy news, and learn about partner organizations working around the U.S. on asset building, economic security, anti-poverty policy, and accessible financial services for low- and middle-income Americans. Topics will vary week-to-week (and depending on the news!) but we’ll aim to provide a diverse overview of the things we’re keeping an eye on that we think you’ll find interesting too.

Inequality, Wages and Financial Crises

January 5, 2012

At the last World Economic Roundtable, Michael Kumhof, Deputy Division Chief of the Modeling Division of the International Monetary Fund, and Raymond Torres, Director of the International Institute for Labour Studies of the International Labour Organization, came to discuss the relationship between inequality and financial crises. 

Don't Miss These Upcoming Asset-Building Presentations

January 3, 2012
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If you live or work in the Washington, D.C. / Virginia / Maryland area and are interested in asset-building, you are in for a treat. During January 11-15, 2012, approximately 20 individual research papers and posters focusing on asset-building research will be presented at the annual conference of the Society for Social Work and Research (SSWR). This research is the latest and greatest from some of the leading researchers in the asset-building field, including Gina Chowa, Michal Grinstein-Weiss, Vernon Loke, Jin Huang, and Youngmi Kim. Topics include savings at tax time, financial capability of youth in international settings, home ownership and housing stability, and debt and asset accumulation. The conference will be held at the Grand Hyatt Washington. Presentations that are "don't miss" are listed below. Click on the number at the end of the titled presentation for a direct link to the complete abstract.

Obama's 2012 Reelection Strategy: Blame the Republicans

  • By
  • Peter Beinart,
  • New America Foundation
December 12, 2011 |

There are two ways a president can run for reelection. The first is to boast about your success in your first term, and promise to build on it in the next. That's what Dwight Eisenhower did in 1956; it's what Ronald Reagan did in 1984; it's what Bill Clinton did in 1996. For the strategy to work, Americans have to be relatively satisfied with their lot, and relatively optimistic about the future.

Programs:

Obama's Populist Address Features Inequality, Mobility, and Fairness

December 9, 2011
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It’s a busy time of year. Perhaps you didn’t hear President Obama’s December 6thspeech in Osawatomie, Kansas. It’s worth a closer look—both for its specific language and general themes. The speech was a billed as a thematic statement of Obama’s vision for the economy and if that’s the case, we can expect to hear more in the coming campaign about inequality, mobility, opportunity, and even fairness. Given the state of the economy, we should expect these issues to attract attention, but still the speech sounded like a departure for a president who has often shied away from taking a populist stance. 

I’ll be honest and say that Osawatomie had not previously been on my radar. But the choice of using this heartland town as the site for a major economic address was not accidental. In 1910, Teddy Roosevelt delivered what’s been called his “New Nationalism” speech, a milestone for the progressive era, where he called upon government to regulate capitalism and elevate the public interests above those of money and property. The press reports piqued my interest and I tracked down TR’s address. Reading it, I was surprised by how contemporary it felt.

TR used his address to rail against the rising power of corporations and moneyed interests that “too often control and corrupt the men and methods of government for their own profit. We must drive the special interests out of politics.” The very triumph of America was at stake, which at that time held the hopes of anyone believing in the desirability of democratic and popular government. Property was to be respected and protected but not given undue influence – and certainly not “the right of suffrage.” (We should send this speech to the current Roberts Court.) TR believed that the unleveled playing field was tipping the scales of justice and the promise of America could only be realized with “practical equality of opportunity for all citizens.”

“…when we achieve it, will have two great results. First, every man will have a fair chance to make of himself all that in him lies; to reach the highest point to which his capacities, unassisted by special privilege of his own and unhampered by the special privilege of others, can carry him, and to get for himself and his family substantially what he has earned. Second, equality of opportunity means that the commonwealth will get from every citizen the highest service of which he is capable. No man who carries the burden of the special privileges of another can give to the commonwealth that service to which it is fairly entitled.

I stand for the square deal. But when I say that I am for the square deal, I mean not merely that I stand for fair play under the present rules of the games, but that I stand for having those rules changed so as to work for a more substantial equality of opportunity and of reward for equally good service.”

Pardon the dated gender language and my bolding of the passage, but for me all it would take to make this passage ring true today is a few new pronouns. Now, let’s see how President Obama picks up on these ideas in his speech delivered over a hundred years later. 

Explaining China’s Falling Current Account Balance

  • By
  • Samuel Sherraden,
  • New America Foundation
December 15, 2011

China’s surplus fell from 10.1% of GDP in 2007 to 5.2% in 2010.  Whether its current account will continue to decline or will return to higher levels seen in the mid-2000s is a subject of considerable disagreement.

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