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Higher Ed, Income Inequality & the American Economy (Part 2)

September 17th, 2014 by dfarish

Last week, I provided an overview on a topic of vital importance: the highly uneven nature of America’s economic recovery since the Great Recession of 2008. Corporate America and its shareholders are doing very well – but the great majority of wage earners are not. What accounts for this unevenness? Noted Harvard economist Gregory Mankiw is quoted as saying, “The best way to address rising inequality is to focus on increasing educational attainment,” (The New York Times, “Income Inequality and the Ills Behind It,” July 30, 2014). Is this statement true? Or does the real answer lie elsewhere?

"It's the Economy, Stupid!"

February 24th, 2014 by dfarish

 

During the presidential election campaign of 1992, and on the heels of a short, sharp national recession, James Carville, a political advisor to the Clinton campaign, famously characterized what the election was all about by coining the phrase that I’m using as the title of this blog post.

Now here we are, 22 years later, and in every political campaign since the Great Recession of 2008, this same phrase—although now tellingly focused specifically on jobs—is the basis of the platform of almost every candidate for office.

The problem is that the focus on jobs—understandable, given that in almost six years the economy has not fully restored the jobs lost in 2008 and 2009—goes well beyond mere political sloganeering.  It permeates every conceivable facet of society: