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Author: Venkat Venkatasubramanian
Publisher: Columbia University Press
ISBN: 0231543220
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
Many in the United States feel that the nation’s current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance on fairness and the ideal distribution of income. Political philosophy, meanwhile, has much to say about fairness yet relies on qualitative theories that cannot be verified by empirical data. To address inequality, we need to know what the goal is—and for this, we need a quantitative, testable theory of fairness for free-market capitalism. How Much Inequality Is Fair? synthesizes concepts from economics, political philosophy, game theory, information theory, statistical mechanics, and systems engineering into a mathematical framework for a fair free-market society. The key to this framework is the insight that maximizing fairness means maximizing entropy, which makes it possible to determine the fairest possible level of pay inequality. The framework therefore provides a moral justification for capitalism in mathematical terms. Venkat Venkatasubramanian also compares his theory’s predictions to actual inequality data from various countries—showing, for instance, that Scandinavia has near-ideal fairness, while the United States is markedly unfair—and discusses the theory’s implications for tax policy, social programs, and executive compensation.
Author: Venkat Venkatasubramanian
Publisher: Columbia University Press
ISBN: 0231543220
Category : Business & Economics
Languages : en
Pages : 410
Get Book Here
Book Description
Many in the United States feel that the nation’s current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance on fairness and the ideal distribution of income. Political philosophy, meanwhile, has much to say about fairness yet relies on qualitative theories that cannot be verified by empirical data. To address inequality, we need to know what the goal is—and for this, we need a quantitative, testable theory of fairness for free-market capitalism. How Much Inequality Is Fair? synthesizes concepts from economics, political philosophy, game theory, information theory, statistical mechanics, and systems engineering into a mathematical framework for a fair free-market society. The key to this framework is the insight that maximizing fairness means maximizing entropy, which makes it possible to determine the fairest possible level of pay inequality. The framework therefore provides a moral justification for capitalism in mathematical terms. Venkat Venkatasubramanian also compares his theory’s predictions to actual inequality data from various countries—showing, for instance, that Scandinavia has near-ideal fairness, while the United States is markedly unfair—and discusses the theory’s implications for tax policy, social programs, and executive compensation.
Author: Chris Hughes
Publisher: St. Martin's Press
ISBN: 1250196612
Category : Business & Economics
Languages : en
Pages : 226
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Book Description
"...deeply felt and cogently argued...Hughes makes a powerful case that deserves a respectful hearing." —The Financial Times Facebook co-founder Chris Hughes argues that the best way to fight income inequality is with a radically simple idea: a guaranteed income for working people, paid for by the one percent. The first half of Chris Hughes’s life played like a movie reel right out of the “American Dream.” He grew up in a small town in North Carolina. His parents were people of modest means, but he was accepted into an elite boarding school and then Harvard, both on scholarship. There, he met Mark Zuckerberg and Dustin Moskovitz and became one of the co-founders of Facebook. In telling his story, Hughes demonstrates the powerful role fortune and luck play in today’s economy. Through the rocket ship rise of Facebook, Hughes came to understand how a select few can become ultra-wealthy nearly overnight. He believes the same forces that made Facebook possible have made it harder for everyone else in America to make ends meet. To help people who are struggling, Hughes proposes a simple, bold solution: a guaranteed income for working people, including unpaid caregivers and students, paid for by the one percent. The way Hughes sees it, a guaranteed income is the most powerful tool we have to combat poverty and stabilize America’s middle class. Money—cold hard cash with no strings attached—gives people freedom, dignity, and the ability to climb the economic ladder. A guaranteed income for working people is the big idea that's missing in the national conversation. This book, grounded in Hughes’s personal experience, will start a frank conversation about how we earn in modern America, how we can combat income inequality, and ultimately, how we can give everyone a fair shot.
Author: Barbara Robles
Publisher: The New Press
ISBN: 1595585621
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
For every dollar owned by the average white family in the United States, the average family of color has less than a dime. Why do people of color have so little wealth? The Color of Wealth lays bare a dirty secret: for centuries, people of color have been barred by laws and by discrimination from participating in government wealth-building programs that benefit white Americans. This accessible book—published in conjunction with one of the country's leading economics education organizations—makes the case that until government policy tackles disparities in wealth, not just income, the United States will never have racial or economic justice. Written by five leading experts on the racial wealth divide who recount the asset-building histories of Native Americans, Latinos, African Americans, Asian Americans, and European Americans, this book is a uniquely comprehensive multicultural history of American wealth. With its focus on public policies—how, for example, many post–World War II GI Bill programs helped whites only—The Color of Wealth is the first book to demonstrate the decisive influence of government on Americans' net worth.
Author: Jennifer L. Hochschild
Publisher: Harvard University Press
ISBN: 9780674950870
Category : Business & Economics
Languages : en
Pages : 364
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Book Description
Using a long questionnaire and in-depth interviews, Hochschild examines the ideals and contemporary practices of Americans on the subject of distributive justice, and discovers neither the rich nor the nonrich support the downward redistribution of wealth.
Author: James K. Galbraith
Publisher: Cambridge University Press
ISBN: 9780521009935
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
The world knows that there is a global crisis of inequality in pay. But what caused it? Where is it more and where less severe? What can be done? This book deploys new techniques and a new global data set to advance striking answers to these questions, answers that have eluded even the largest international research institutions such as the OECD and the World Bank. Chapters trace the U.S. wage structure back to 1920, the relationship of inequality and unemployment in Europe, and the relationships of inequality to economic growth, liberalization, financial crisis, state violence and industrial policy in more than fifty developing countries.
Author: Daniel Markovits
Publisher: Penguin
ISBN: 0735222010
Category : Social Science
Languages : en
Pages : 450
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Book Description
A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes. This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.
Author: Coral Celeste Frazer
Publisher: Twenty-First Century Books (Tm)
ISBN: 1512431079
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
Millions of Americans don't earn enough money to pay for decent housing, food, health care, and education. Meanwhile the rich keep getting richer. Learn how governments, businesses, and citizens are fighting to close the economic gap.
Author: Martin Gilens
Publisher: Princeton University Press
ISBN: 0691153973
Category : Education
Languages : en
Pages : 348
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Book Description
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.
Author: Chuck Collins
Publisher:
ISBN: 9781565845947
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
"Filled with charts, graphs, and political cartoons, Economic Apartheid in America is an action-oriented, movement-building guide to closing the widening gap between the rich and everyone else in this country."--BOOK JACKET.
Author: Gary Orfield
Publisher: Univ of California Press
ISBN: 0520955102
Category : Education
Languages : en
Pages : 330
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Book Description
The first major battle over school choice came out of struggles over equalizing and integrating schools in the civil rights era, when it became apparent that choice could be either a serious barrier or a significant tool for reaching these goals. The second large and continuing movement for choice was part of the very different anti-government, individualistic, market-based movement of a more conservative period in which many of the lessons of that earlier period were forgotten, though choice was once again presented as the answer to racial inequality. This book brings civil rights back into the center of the debate and tries to move from doctrine to empirical research in exploring the many forms of choice and their very different consequences for equity in U.S. schools. Leading researchers conclude that although helping minority children remains a central justification for choice proponents, ignoring the essential civil rights dimensions of choice plans risks compounding rather than remedying racial inequality.
