The effect of unequal educational funding is to reinforce existing wealth inequalities across social class, race, gender, and region. But the most significant effect is the reproduction of these inequalities across generations.
To get back to that level and maybe even surpass it, we need someone in charge at the Federal Reserve who understands that creating conditions that increase the purchasing power of American workers' paychecks is a part of her mandate. From what she's said and done so far, it appears Janet Yellen is exactly that kind of Fed chair.
Hard as it may be for its legion of economic, political and media critics (and even some of its own members) to accept, the most recent bullish jobs report from the Labor Department looks like a ringing endorsement of Federal Reserve policies and perspectives on the economy.
The good news about the economy's improved job creation dominated the weekend's headlines. Many commentators concluded that the economy is finally shaking off the effects of the financial collapse of 2008 and the long period of stagnation that followed. But the one-year increase in wages has been only 2.2 percent, barely more than 1 percent when adjusted for inflation, and it's been a long time since most workers have seen substantial raises. In this recovery, the economy has been creating more low-wage jobs than high-wage ones. The shift from standard payroll jobs to temp and contract work continues. The uptick in the measured unemployment rate suggests that discouraged workers are only just coming back into the labor force and we are a long way from full employment. Even at the present rate of improved job creation, it will be 2017 before we get back to the pre-recession level of unemployment.
This is something that Germany, instigator of the eurozone's austerity policies, has to learn if it wants to bring Europe out of its Second Great Depression; by supporting policies that will unite Europe into a greater union, rather than cause its disintegration.
CNBC should be asking itself why on earth it continues to show such favoritism for the views of market pessimists and short sellers -- indeed, even facilitating such traders profit strategies -- at the expense of their retail TV audience.
Once a nation turns its back on a resolute determination to cultivate moral deservedness, political and financial superintendency passes to those who gain power illegitimately--a fact described eloquently by President Theodore Roosevelt.
'Twas the week before Christmas And all through the Street Not a hedge fund was buying: Instead--in retreat! They'd bet big on oil-- Now they w...
When TIME ignores so many influential women in favor of less influential men, it increases the disparity of how women are viewed in society because when they put something on the cover (and choose to ignore other subjects), people talk about it (or don't), regardless of its importance or accuracy.
With inflation still running at 1.7 percent and downside risks such as the slowing world economy, there's no excuse for the Fed to be throwing people out of work by raising interest rates. Let's hope that public pressure and an improved debate over Fed policy can keep this country moving toward full employment.
It's certainly no secret that celebrities enjoy the finer things in life. Many have used their larger-than-life paychecks to collect an impressive inventory of very fancy memorabilia. Here are 10 of the most impressive collections amassed by superstars.
Design changes in Ebola management protocols make it highly probable that the Ebola hazard in America will be successfully contained. In contrast, the hazard of wealth-concentration policies implemented by central banks is not under containment. This problem threatens the very fabric of democratic enterprise.
The wealthy continue to see significant income and wealth gains while the majority of people are experiencing stagnant living standards. Income inequality is one of the most significant financial stories right now, and there's no end in sight.
As the third female independent trader to ever own a seat at the CBOE, Carolyn's 21 years in the trading pits gave her a ringside view into the emotional ups and downs of volatile markets and the fear and greed that drive them.
It is true that the rate of economic growth has quickened, but that rate is still low by pre-recession standards. In July the IMF actually cut the U.S. growth forecast for 2014 to just 1.7 percent, the CBO's in August was just 1.5 percent. These are not stellar growth numbers.