Economic Growth
How does inequality change innovation?
When asked why he robbed banks, Willie Sutton reportedly replied, “Because that’s where the money is.” That dictum is apt for more than just bank robbery, though. If you’re running a busi...
Nick Bunker
Nick Bunker is a Policy Research Associate with the Washington Center for Equitable Growth.
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Financial and Monetary Systems
Has the decline of labour's share of income paused?
The decline of the labor share of income in the United States—a topic well covered in this space—seems to have paused. As Neil Irwin points out at The Upshot, the data over the past year ...
Jobs and the Future of Work
What does this chart tell us about the US economy?
In the wonkier corners of the internet, the release of new data from the monthly Job Openings and Labor Turnover Survey usually produces a graph that can be a bit bewildering to neophytes...
Economic Growth
US unemployment is relatively low, but wages aren't growing. Why not?
The U.S. unemployment rate has been at or under 5 percent for more than six months. But even though that number is close to many estimates of the long-run unemployment rate, neither infla...
Economic Growth
Correlation and causality in economics: Can we prove it?
In the most recent interview in our “Equitable Growth in Conversation” series, our own Ben Zipperer talks with David Card of the University of California, Berkeley and Alan Krueger of Pri...
Economic Growth
What are the basic economics of a guaranteed income?
In the 1975 book “Equality and Efficiency: The Big Tradeoff,” economist Arthur Okun coined the phrase “leaky bucket” to describe how efforts to redistribute income might reduce economic e...
Equity, Diversity and Inclusion
Could this help us better understand the influence of finance and credit on economies?
Fifty-five years ago, Nicholas Kaldor, a macroeconomist at the University of Cambridge, laid out six “stylized facts” about economies. Kaldor wasn’t just summarizing what economists had l...
Economic Growth
Does unemployment insurance increase the unemployment rate?
The damage the U.S. labor market endured during and after the Great Recession was massive. The unemployment rate, after rising for 29 months, spiked at 10 percent in October 2009—a level ...
Financial and Monetary Systems
Can the US labour market keep up its momentum?
Usually when the government announces new data on the growth of the overall U.S. economy, the attention of the press and analysts jumps to the level of economic growth. But last week, the...
Economic Growth
Why the US might feel the effects of the Great Recession until 2021
The U.S. labor market recovery from the Great Recession of 2007–09 has been uneven in a number of ways, including by location. While the nation’s overall unemployment rate may be below 5 ...
Economic Growth
How extending credit can fight recessions
When you’re fighting a recession, you want to use the policies with the most “bang for your buck.” Given what we now know about the potential scarring effects of recessions, using ineffic...
Education and Skills
Does inequality increase school dropout rates?
One way that high levels of income and wealth inequality might affect economic growth is through the development of human capital. Inequality could warp workers’ ability to improve their ...
Jobs and the Future of Work
Why less job searching can be a good thing
Prior to the Great Recession of 2007-2009, eligible unemployed workers in the United States could receive unemployment insurance checks for up to 26 weeks. In the wake of the recession an...
Jobs and the Future of Work
How can we boost productivity?
Where does productivity growth come from? The definitive answer to that question would quickly win someone a Nobel prize and the immediate gratitude of economists and policymakers. (Well,...
Economic Growth
What's to blame for the US productivity slowdown?
With the rise of new internet-based companies and the smartphone as an essential part of many people’s lives, it can be hard to believe that the U.S. economy is lacking for innovation and...