Pub Date : 2022-02-16DOI: 10.1080/05775132.2022.2038883
D. Carlton, Peter A. Coclanis
Abstract The essay focuses on the problem of promoting economic development in a part of the U.S. South plagued by what the authors refer to as a “resource dearth.” In the case examined, the Albemarle region in northeastern North Carolina, the authors argue that such a dearth exists, and that the area’s isolation, limited natural and human resources, and troubled history have held back the region’s economic progress and render development difficult there even today. That said, they suggest one possible strategy that might help: the establishment of viable “mini- growth poles” within reasonable commuting distance of the ten-county area examined.
{"title":"Resource Dearth: Challenges to Development in the American South","authors":"D. Carlton, Peter A. Coclanis","doi":"10.1080/05775132.2022.2038883","DOIUrl":"https://doi.org/10.1080/05775132.2022.2038883","url":null,"abstract":"Abstract The essay focuses on the problem of promoting economic development in a part of the U.S. South plagued by what the authors refer to as a “resource dearth.” In the case examined, the Albemarle region in northeastern North Carolina, the authors argue that such a dearth exists, and that the area’s isolation, limited natural and human resources, and troubled history have held back the region’s economic progress and render development difficult there even today. That said, they suggest one possible strategy that might help: the establishment of viable “mini- growth poles” within reasonable commuting distance of the ten-county area examined.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"145 1","pages":"3 - 11"},"PeriodicalIF":0.0,"publicationDate":"2022-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78200150","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-26DOI: 10.1080/05775132.2022.2046883
B. N. Kausik
Abstract We argue that the recent growth in income inequality is driven by disparate growth in investment income rather than by disparate growth in wages. Specifically, we present evidence that real wages are flat across a range of professions, doctors, software engineers, auto mechanics, and cashiers, while stock ownership favors higher education and income levels. Artificial intelligence and automation allocate an increased share of job tasks toward capital and away from labor. The rewards of automation accrue to capital and are reflected in the growth of the stock market, with several companies now valued in the trillions. We propose a deferred investment payroll plan to enable all workers to participate in the rewards of automation and analyze the performance of such a plan.
{"title":"Income Inequality, Cause and Cure","authors":"B. N. Kausik","doi":"10.1080/05775132.2022.2046883","DOIUrl":"https://doi.org/10.1080/05775132.2022.2046883","url":null,"abstract":"Abstract We argue that the recent growth in income inequality is driven by disparate growth in investment income rather than by disparate growth in wages. Specifically, we present evidence that real wages are flat across a range of professions, doctors, software engineers, auto mechanics, and cashiers, while stock ownership favors higher education and income levels. Artificial intelligence and automation allocate an increased share of job tasks toward capital and away from labor. The rewards of automation accrue to capital and are reflected in the growth of the stock market, with several companies now valued in the trillions. We propose a deferred investment payroll plan to enable all workers to participate in the rewards of automation and analyze the performance of such a plan.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"23 1","pages":"93 - 105"},"PeriodicalIF":0.0,"publicationDate":"2022-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81980020","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-11-02DOI: 10.1080/05775132.2021.2033508
J. Madrick
Nearly two years into the COVID-19 pandemic, despite rising wages, America’s economic recovery remains unequal, Mary G. Finding, Robert J. Blendon, and John M. Bwenson report. They find that lowand moderate-income households continue to suffer financially. In a new survey examining serious problems facing U.S. households during the delta variant outbreak, four key differences among the experiences of households by income level (<$50,000/year, $50,000–$99,999/year, or $100,000/year) are discussed, as well as their implications for the future. First, despite trillions of dollars appropriated by federal and state governments during the CVOVID-19 outbreak to protect vulnerable Americans and a majority of American households reporting they have received financial assistance from the federal government in recent months, 59% of U.S. households earning less than $50,000 a year still report facing serious financial problems, while fewer than one in four households earning $50,000/year report this. Second, the housing crisis among renters is likely to worsen in the near term, as 34% of renters earning less than $50,000/year report serious problems paying rent, compared to fewer than 10% of those earning $50,000. This includes large shares of renters earning below $50,000 in the four largest U.S. cities (59% of Houston renters, 51% of Chicago renters, 44% of Los Angeles renters, and 44% of New York City renters). Third, problems for many lower-income households are likely to endure over time, as 30% of households earning <$50,000 lost all of their household savings during the COVID19 pandemic and have no savings to fall back on. Fourth, these problems may extend intergenerationally, as 72% of households with children earning <$50,000 report facing serious financial problems, and 49% of these households report their children have fallen behind in school a lot during the COVID-19 pandemic, compared with one-third or fewer households with children earning $50,000 who report these problems. This study was conducted by researchers at the Harvard T.H. Chan School of Public Health, using a 2021 poll by Harvard, National Public Radio, and the Robert Wood Johnson Foundation. In our second piece, Howard Sherman and Paul Sherman analyze the increase in educational attainment of workers by race, party affiliation, and gender since 1950. They assert that the future of progressive policies looks strong. They believe that increases in educational attainment have been significant and can set a progressive path for future equitable incorporation of workers of all classes as the nation goes forward. What were some of the most important evolutionary tendencies in the working class from 1950 to 2016? Can we create a second global Marshall Plan? The wealthy nations of the world currently maintain high immigration barriers. These barriers are necessitated by the pressure of billions of people in the poorer nations who seek to migrate to the richer nations, writes James A. Yunker
Mary G. Finding、Robert J. Blendon和John M. Bwenson报道，COVID-19大流行近两年来，尽管工资上涨，但美国的经济复苏仍然不平等。他们发现，低收入和中等收入家庭的经济状况仍在恶化。在一项新的调查中，研究了三角洲变体爆发期间美国家庭面临的严重问题，讨论了不同收入水平(< 50,000美元/年、50,000 - 99,999美元/年或100,000美元/年)家庭经历的四个关键差异，以及它们对未来的影响。首先，尽管在2019冠状病毒病爆发期间，联邦和州政府拨款数万亿美元来保护弱势美国人，而且大多数美国家庭报告说他们最近几个月得到了联邦政府的经济援助，但59%的年收入低于5万美元的美国家庭仍然面临严重的财务问题，而年收入5万美元的家庭中只有不到四分之一的家庭报告说这一点。其次，租房者的住房危机可能会在短期内恶化，因为年收入低于5万美元的租房者中，有34%的人表示在支付租金方面存在严重问题，而年收入5万美元的租房者中，这一比例不到10%。这包括美国四大城市中收入低于5万美元的租房者的很大一部分(59%的休斯顿租房者，51%的芝加哥租房者，44%的洛杉矶租房者和44%的纽约租房者)。第三，许多低收入家庭面临的问题可能会持续一段时间，因为在2019冠状病毒病大流行期间，30%收入低于5万美元的家庭失去了所有家庭储蓄，没有任何储蓄可以依靠。第四，这些问题可能会在代际间延续，因为收入低于5万美元的儿童家庭中有72%报告面临严重的财务问题，其中49%的家庭报告他们的孩子在COVID-19大流行期间在学校落后很多，相比之下，收入为5万美元的儿童家庭中有三分之一或更少的家庭报告这些问题。这项研究是由哈佛大学陈曾熙公共卫生学院的研究人员进行的，使用了哈佛大学、全国公共广播电台和罗伯特·伍德·约翰逊基金会2021年的民意调查。在我们的第二篇文章中，霍华德·谢尔曼和保罗·谢尔曼分析了自1950年以来按种族、党派和性别划分的工人受教育程度的增长情况。他们断言，进步政策的未来看起来很强劲。他们认为，受教育程度的提高是显著的，随着国家的发展，这将为未来所有阶层的工人平等地融入社会开辟一条进步的道路。从1950年到2016年，工人阶级最重要的进化趋势是什么?我们能创建第二个全球马歇尔计划吗?世界上的富裕国家目前保持着很高的移民壁垒。詹姆斯·a·扬克写道，这些障碍是贫困国家数十亿人寻求移民到富裕国家的压力所必需的。如果全球经济不平等状况得到显著缓解，富国的这种压力将得到显著缓解。实现这一目标的方法之一是将现有的对外援助项目整合并扩大为全球马歇尔计划。作者提出的证据表明，这种方法可能是有效的。大多数非洲国家都在努力改善日常生活，减少或消除极度贫困。家庭收入和财富停留在较低水平。公共政策则无能为力
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Pub Date : 2021-11-02DOI: 10.1080/05775132.2021.2013674
Mary T G Findling, R. Blendon, J. Benson
Abstract Nearly two years into the Covid-19 pandemic, America’s economic recovery remains unequal. The authors find that low- and moderate-income households continue to suffer financially. In a new survey examining serious problems facing U.S. households during the delta variant outbreak, four key differences among the experiences of households by income level (<$50,000/year, $50,000–$99,999/year, or $100,000+/year) are discussed, as well as their implications for the future. First, despite trillions of dollars appropriated by federal and state governments during the Covid-19 outbreak to protect vulnerable Americans and a majority of American households reporting they have received financial assistance from the federal government in the past few months, 59% of U.S. households earning below $50,000 a year still report facing serious financial problems, while fewer than one in four households earning $50,000+/year report this. Second, the housing crisis among renters is likely to worsen in the near-term, as 34% of renters earning below $50,000/year report serious problems paying rent, compared to fewer than 10% of those earning $50,000+. This includes large shares of renters earning below $50,000 in the four largest U.S. cities (59% of Houston renters, 51% of Chicago renters, 44% of Los Angeles renters, and 44% of New York City renters). Third, problems for many lower-income households are likely to endure over time, as 30% of households earning <$50,000 lost all of their household savings during the Covid-19 pandemic and have no savings to fall back on. Fourth, these problems may extend intergenerationally, as 72% of households with children earning <$50,000 report facing serious financial problems, and 49% of these households report their children have fallen behind in school a lot during the Covid-19 pandemic, compared with one-third or fewer households with children earning $50,000+ who report these problems. This study was conducted by researchers at the Harvard T.H. Chan School of Public Health, using a 2021 poll by Harvard, National Public Radio, and the Robert Wood Johnson Foundation.
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Pub Date : 2021-11-02DOI: 10.1080/05775132.2021.1992154
H. Sherman, Paul Sherman
Abstract #The authors analyze the increase in educational attainment of workers by race, party affiliation, gender since 1950. They assert that the future of progressive policies looks strong.
{"title":"The New Working Class: Education, Economics and Politics","authors":"H. Sherman, Paul Sherman","doi":"10.1080/05775132.2021.1992154","DOIUrl":"https://doi.org/10.1080/05775132.2021.1992154","url":null,"abstract":"Abstract #The authors analyze the increase in educational attainment of workers by race, party affiliation, gender since 1950. They assert that the future of progressive policies looks strong.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"1 1","pages":"388 - 393"},"PeriodicalIF":0.0,"publicationDate":"2021-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82047370","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-11-01DOI: 10.1080/05775132.2021.2004738
S. Edwards
Abstract The implications for emerging countries of the adoption of central bank digital currencies (CBDCs) in advanced jurisdictions, such as the United States, the United Kingdom, and the Euro Zone, are now well-discussed. Unlike today’s common cryptocurrencies, these digital currencies are linked or will be linked to national currencies Some of the benefits of global CBDC are lower-cost international, including immigrants’ remittances. CBDCs are also associated with currency substitution, sudden currency depreciation, and lower seigniorage. At the global level, a smooth rollout of CBDCs writes the author, requires international coordination. As for emerging countries, they should benefit from stronger macroprudential regulations.
{"title":"Central Bank Digital Currencies and the Emerging Markets: The Currency Substitution Challenge","authors":"S. Edwards","doi":"10.1080/05775132.2021.2004738","DOIUrl":"https://doi.org/10.1080/05775132.2021.2004738","url":null,"abstract":"Abstract The implications for emerging countries of the adoption of central bank digital currencies (CBDCs) in advanced jurisdictions, such as the United States, the United Kingdom, and the Euro Zone, are now well-discussed. Unlike today’s common cryptocurrencies, these digital currencies are linked or will be linked to national currencies Some of the benefits of global CBDC are lower-cost international, including immigrants’ remittances. CBDCs are also associated with currency substitution, sudden currency depreciation, and lower seigniorage. At the global level, a smooth rollout of CBDCs writes the author, requires international coordination. As for emerging countries, they should benefit from stronger macroprudential regulations.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"13 1","pages":"413 - 424"},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90888896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-26DOI: 10.1080/05775132.2021.1984066
D. Fraenkel
Abstract The author addresses practice and uncertainties in testing for infections.
摘要:作者解决了实践和不确定性测试的感染。
{"title":"Testing for the Virus in the First Year of COVID-19: A Primer and a Plea for the Economists","authors":"D. Fraenkel","doi":"10.1080/05775132.2021.1984066","DOIUrl":"https://doi.org/10.1080/05775132.2021.1984066","url":null,"abstract":"Abstract The author addresses practice and uncertainties in testing for infections.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"48 1","pages":"425 - 432"},"PeriodicalIF":0.0,"publicationDate":"2021-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85387914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-04DOI: 10.1080/05775132.2021.1984092
Junaid B. Jahangir
Abstract Many Economics 101 students do not major in the subject partly to the subject content that emphasizes abstract models over contemporary issues including climate change, inequality, and financial crises. This critique is of both content and presentation. To this end an unorthodox review of salient ideas of text book by Reardon et al., Introducing a New Economics, is undertaken and paired up with video clips from movies and cartoons to amplify their reach.
{"title":"Amplifying Heterodox Economics With Video Clips","authors":"Junaid B. Jahangir","doi":"10.1080/05775132.2021.1984092","DOIUrl":"https://doi.org/10.1080/05775132.2021.1984092","url":null,"abstract":"Abstract Many Economics 101 students do not major in the subject partly to the subject content that emphasizes abstract models over contemporary issues including climate change, inequality, and financial crises. This critique is of both content and presentation. To this end an unorthodox review of salient ideas of text book by Reardon et al., Introducing a New Economics, is undertaken and paired up with video clips from movies and cartoons to amplify their reach.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"3 1","pages":"433 - 452"},"PeriodicalIF":0.0,"publicationDate":"2021-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83709845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-28DOI: 10.1080/05775132.2021.1979795
Christopher Mackin
{"title":"Review of Neo-Abolitionism: Abolishing Human Rentals in Favor of Workplace Democracy","authors":"Christopher Mackin","doi":"10.1080/05775132.2021.1979795","DOIUrl":"https://doi.org/10.1080/05775132.2021.1979795","url":null,"abstract":"","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"221 1","pages":"453 - 459"},"PeriodicalIF":0.0,"publicationDate":"2021-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74716054","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-23DOI: 10.1080/05775132.2021.1979796
J. Yunker
Abstract The wealthy nations of the world currently maintain high immigration barriers. These barriers are necessitated by the pressure of billions of people in the poorer nations who seek to migrate to the richer nations. This pressure on the rich nations would be significantly alleviated if the global economic inequality situation were significantly reduced. One way to do this is to consolidate and expand existing foreign aid programs into a Global Marshall Plan (GMP). The author presents evidence that such an approach could be effective.
{"title":"The Case for a Global Marshall Plan","authors":"J. Yunker","doi":"10.1080/05775132.2021.1979796","DOIUrl":"https://doi.org/10.1080/05775132.2021.1979796","url":null,"abstract":"Abstract The wealthy nations of the world currently maintain high immigration barriers. These barriers are necessitated by the pressure of billions of people in the poorer nations who seek to migrate to the richer nations. This pressure on the rich nations would be significantly alleviated if the global economic inequality situation were significantly reduced. One way to do this is to consolidate and expand existing foreign aid programs into a Global Marshall Plan (GMP). The author presents evidence that such an approach could be effective.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"10 1","pages":"394 - 405"},"PeriodicalIF":0.0,"publicationDate":"2021-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85230287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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