The American Economic Association’s little-known radical past—and its relevance in this post-Piketty moment.
Marshall Steinbaum was a Research Economist at the Center for Equitable Growth. His research focused on long- and short-run trends in the macro labor market, including the importance of geographic and job-to-job mobility and the role of wage setting and market structure in explaining anomalous labor market outcomes, as well as their implications for inequality and social mobility. He was involved in Equitable Growth’s long-term research projects and developed institutional capacity and outreach to the economics profession. Marshall earned a Ph.D. from the University of Chicago Department of Economics in 2014 and a B.A. in Philosophy, Politics, and Economics from Oxford University in 2005.
In the second installment of the interactive Mapping Student Debt project, we document that the geography of student loan delinquency is highly racialized.
A new interactive compares the geographic distribution of average household student loan balances and average loan delinquency to median income across the United States and within metropolitan areas.
Many young people are stuck in low wage jobs. If these workers do not find opportunities to climb, then they will potentially be stuck on the lower income rungs for the rest of their lives.
Workers who have degrees are already taking jobs further and further down the job ladder. Encouraging or subsidizing higher education attainment will not solve the fundamental problem facing workers in the current job market: There...
Together, these two statistical biases reduce the scale of rising earnings inequality and hence minimize the very phenomenon the paper seeks to investigate.
In the absence of more jobs, heroic assumptions about educational improvement are likely to deliver only modest economic benefits.