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Posts Tagged ‘economy’

The End of Good Work?

In 1879 farm laborers in Maryland destroyed harvesting machinery and left the farm owner a note:

“You will please stop your other machines or next will be your life. . . . We do not get work enough . . . we have to go into det.” In 1938 Congress examined how mechanization was displacing tens of thousands of farm workers and families. And in 1962 President Kennedy declared that machines replacing men posed the major domestic challenge of the decade.

Repeatedly, new technologies have displaced and “de-skilled” specific kinds of work. Overall, though, American workers have gone on to have better jobs in each case. A new book by economist Robert J. Gordon, The Rise and Fall of American Growth, nonetheless argues that this time the end of good work is really coming. …. See the rest of this column at the Boston Review here.

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Inequality Update

Inequality has become the new hot topic over the last several years – in the media and in the research community. This post briefly reports several recent studies of inequality that tell us what’s been happening, why, and to what effect. (It’s not a cheery story.) Before that, notice how rapidly public attention – if not action – has recently turned to inequality.

Income inequality started widening about 1970, expanded quickly in the 1980s and 1990s (when colleagues and I wrote Inequality by Design), and grew much more slowly since.[1] Media and academic interest in the topic seems to have taken off about 25 years after the big jump. The number of stories in the New York Times that mentioned inequality rose from about 90 a year in the 1990s to 840 a year in the 2000s and to about 2,700 a year since the start of 2010. About 250 economics articles a year touched on inequality in the 1990s – much fewer than in sociology, by the way – 850 in the 2000s and over 3,500 per year in the 2010s.[2] Better late than never.

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Piketty & Saez via Source

What are some of things we are learning from this 30-fold increase in media attention and 14-fold growth in economic research? What follows is not a systematic overview – that would be a Herculean task and there are many books that attempt it – but an introduction to several studies that drifted across my (virtual) desktop recently. Some give us the long view, some a view of how the Great Recession accentuated inequality.

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