Thomas Piketty and His Discontents, Apolitical Economy: Democracy and Dynasty

Inequality and its corrosion of the body and the soul of capitalist societies has been the hottest topic among respectable liberal economists and political analysts in the United States since the crisis of September 2008. To be sure, Left economists have been tracing the twin scourges of flatlined real wages and widening inequality since the […]

A Punishing Decade for School Funding

Public investment in K-12 schools — crucial for communities to thrive and the U.S. economy to offer broad opportunity — has declined dramatically in a number of states over the last decade.  Worse, some of the deepest-cutting states have also cut income tax rates, weakening their main revenue source for supporting schools. Most states cut […]

Stop Tackling Poverty

“Increasingly there are two Americas: one is secure, one is insecure,” argues Jonathan Morduch, co-author of The Financial Diaries. In our six-part series on the decline of America’s suburbs, we’ve explored the complexity of work-life stress in the suburbs when it comes to income volatility, housing insecurity, access to social services, and transportation. In much of […]

The Decline in Lifetime Earnings Mobility in the U.S.: Evidence from Survey-Linked Administrative Data

Abstract There is a sizable literature that examines whether intergenerational mobility has declined as inequality has increased. This literature is motivated by a desire to understand whether increasing inequality has made it more difficult to rise from humble origins. An equally important component of economic mobility is the ability to move across the earnings distribution […]