Depressing but important economics research from Stanford

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Depressing but important economics research from Stanford

Post by MaxEntropy_Man on Thu Dec 08, 2016 3:42 pm

On the American dream:

http://www.nytimes.com/2016/12/08/opinion/the-american-dream-quantified-at-last.html?

The researchers ran a clever simulation recreating the last several decades with the same G.D.P. growth but without the post-1970 rise in inequality. When they did, the share of 1980 babies who grew up to out-earn their parents jumped to 80 percent, from 50 percent. The rise was considerably smaller (to 62 percent) in the simulation that kept inequality constant but imagined that growth returned to its old, faster path.

The painful irony of 2016 is that nostalgia and anger over the fading American dream helped elect a president who may put the dream even further out of reach for many people — taking away their health insurance, supporting ineffective school vouchers and showering government largess on the rich. Every one of those issues will be worth a fight.
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Re: Depressing but important economics research from Stanford

Post by Idéfix on Thu Dec 08, 2016 7:46 pm

Another interesting article: http://fivethirtyeight.com/features/inequality-is-killing-the-american-dream/
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Re: Depressing but important economics research from Stanford

Post by MaxEntropy_Man on Thu Dec 08, 2016 7:51 pm

Idefix -- both the Times article and the 538 article are based off the exact same Stanford group's research. Basically the conclusions are that slow GDP growth and income inequality are killing the American Dream, but income inequality is by far the more important factor.
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