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Author: Venkat Venkatasubramanian Publisher: Columbia University Press ISBN: 0231543220 Category : Business & Economics Languages : en Pages : 410
Book Description
Many in the United States feel that the nation’s current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance on fairness and the ideal distribution of income. Political philosophy, meanwhile, has much to say about fairness yet relies on qualitative theories that cannot be verified by empirical data. To address inequality, we need to know what the goal is—and for this, we need a quantitative, testable theory of fairness for free-market capitalism. How Much Inequality Is Fair? synthesizes concepts from economics, political philosophy, game theory, information theory, statistical mechanics, and systems engineering into a mathematical framework for a fair free-market society. The key to this framework is the insight that maximizing fairness means maximizing entropy, which makes it possible to determine the fairest possible level of pay inequality. The framework therefore provides a moral justification for capitalism in mathematical terms. Venkat Venkatasubramanian also compares his theory’s predictions to actual inequality data from various countries—showing, for instance, that Scandinavia has near-ideal fairness, while the United States is markedly unfair—and discusses the theory’s implications for tax policy, social programs, and executive compensation.
Author: Venkat Venkatasubramanian Publisher: Columbia University Press ISBN: 0231543220 Category : Business & Economics Languages : en Pages : 410
Book Description
Many in the United States feel that the nation’s current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance on fairness and the ideal distribution of income. Political philosophy, meanwhile, has much to say about fairness yet relies on qualitative theories that cannot be verified by empirical data. To address inequality, we need to know what the goal is—and for this, we need a quantitative, testable theory of fairness for free-market capitalism. How Much Inequality Is Fair? synthesizes concepts from economics, political philosophy, game theory, information theory, statistical mechanics, and systems engineering into a mathematical framework for a fair free-market society. The key to this framework is the insight that maximizing fairness means maximizing entropy, which makes it possible to determine the fairest possible level of pay inequality. The framework therefore provides a moral justification for capitalism in mathematical terms. Venkat Venkatasubramanian also compares his theory’s predictions to actual inequality data from various countries—showing, for instance, that Scandinavia has near-ideal fairness, while the United States is markedly unfair—and discusses the theory’s implications for tax policy, social programs, and executive compensation.
Author: Chris Hughes Publisher: St. Martin's Press ISBN: 1250196612 Category : Business & Economics Languages : en Pages : 224
Book Description
"...deeply felt and cogently argued...Hughes makes a powerful case that deserves a respectful hearing." —The Financial Times Facebook co-founder Chris Hughes argues that the best way to fight income inequality is with a radically simple idea: a guaranteed income for working people, paid for by the one percent. The first half of Chris Hughes’s life played like a movie reel right out of the “American Dream.” He grew up in a small town in North Carolina. His parents were people of modest means, but he was accepted into an elite boarding school and then Harvard, both on scholarship. There, he met Mark Zuckerberg and Dustin Moskovitz and became one of the co-founders of Facebook. In telling his story, Hughes demonstrates the powerful role fortune and luck play in today’s economy. Through the rocket ship rise of Facebook, Hughes came to understand how a select few can become ultra-wealthy nearly overnight. He believes the same forces that made Facebook possible have made it harder for everyone else in America to make ends meet. To help people who are struggling, Hughes proposes a simple, bold solution: a guaranteed income for working people, including unpaid caregivers and students, paid for by the one percent. The way Hughes sees it, a guaranteed income is the most powerful tool we have to combat poverty and stabilize America’s middle class. Money—cold hard cash with no strings attached—gives people freedom, dignity, and the ability to climb the economic ladder. A guaranteed income for working people is the big idea that's missing in the national conversation. This book, grounded in Hughes’s personal experience, will start a frank conversation about how we earn in modern America, how we can combat income inequality, and ultimately, how we can give everyone a fair shot.
Author: Barbara Robles Publisher: The New Press ISBN: 1595585621 Category : Business & Economics Languages : en Pages : 336
Book Description
For every dollar owned by the average white family in the United States, the average family of color has less than a dime. Why do people of color have so little wealth? The Color of Wealth lays bare a dirty secret: for centuries, people of color have been barred by laws and by discrimination from participating in government wealth-building programs that benefit white Americans. This accessible book—published in conjunction with one of the country’s leading economics education organizations—makes the case that until government policy tackles disparities in wealth, not just income, the United States will never have racial or economic justice. Written by five leading experts on the racial wealth divide who recount the asset-building histories of Native Americans, Latinos, African Americans, Asian Americans, and European Americans, this book is a uniquely comprehensive multicultural history of American wealth. With its focus on public policies—how, for example, many post–World War II GI Bill programs helped whites only—The Color of Wealth is the first book to demonstrate the decisive influence of government on Americans’ net worth.
Author: Jennifer L. Hochschild Publisher: Harvard University Press ISBN: 9780674950870 Category : Business & Economics Languages : en Pages : 364
Book Description
Using a long questionnaire and in-depth interviews, Hochschild examines the ideals and contemporary practices of Americans on the subject of distributive justice, and discovers neither the rich nor the nonrich support the downward redistribution of wealth.
Author: Coral Celeste Frazer Publisher: Twenty-First Century Books (Tm) ISBN: 1512431079 Category : BUSINESS & ECONOMICS Languages : en Pages : 132
Book Description
Millions of Americans don't earn enough money to pay for decent housing, food, health care, and education. Meanwhile the rich keep getting richer. Learn how governments, businesses, and citizens are fighting to close the economic gap.
Author: Chuck Collins Publisher: ISBN: 9781459603257 Category : Languages : en Pages : 320
Book Description
Revised following the 2004 presidential election, a graphic portrait of the growing gap between the rich and everyone else in America. In 1968, African Americans earned 55 cents for every dollar of white income. At the current pace, it would take 581 years for African Americans to achieve income parity. States including Alabama, Tennessee, and Virginia tax food and basic needs at a higher rate than income from investments. Welfare for very low income people totaled $193 billion in 2004. Aid to ''dependent corporations '' exceeded $800 billion. This updated edition of the widely touted Economic Apartheid in America looks at the causes and manifestations of wealth disparities in the United States, including tax policy in light of the 2001 and 2003 tax cuts and recent corporate scandals. Published with two leading organizations dedicated to addressing economic inequality, the book looks at recent changes in income and wealth distribution and examines the economic policies and shifts in power that have fueled the growing divide. Praised by Sojurners as ''a clear blueprint on how to combat growing inequality, '' Economic Apartheid in America provides ''much-needed groundwork for more democratic discussion and participation in economic life '' (Tikkun). With ''a wealth of eye-opening data '' (The Beacon) focusing on the decline of organized labor and civic institutions, the battle over global trade, and the growing inequality of income and wages, it argues that most Americans are shut out of the discussion of the rules governing their economic lives. Accessible and engaging and illustrated throughout with charts, graphs, and political cartoons, the book lays out a comprehensive plan for action. Charts, graphs, and black-and-white illustrations throughout.
Author: Heather Boushey Publisher: ISBN: 0674919319 Category : Business & Economics Languages : en Pages : 305
Book Description
Many fear that efforts to address inequality will undermine the economy as a whole. But the opposite is true: rising inequality has become a drag on growth and an impediment to market competition. Heather Boushey breaks down the problem and argues that we can preserve our nation's economic traditions while promoting shared economic growth.
Author: Richard Wilkinson Publisher: Bloomsbury Publishing USA ISBN: 1608193411 Category : Social Science Languages : en Pages : 401
Book Description
It is common knowledge that, in rich societies, the poor have worse health and suffer more from almost every social problem. This book explains why inequality is the most serious problem societies face today.
Author: Andrew Leigh Publisher: Black Inc. ISBN: 1922231045 Category : Social Science Languages : en Pages : 113
Book Description
Is Australia fair enough? And why does inequality matter anyway? In Battlers and Billionaires, Andrew Leigh weaves together vivid anecdotes, interesting history and powerful statistics to tell the story of inequality in this country. This is economics writing at its best. From egalitarian beginnings, Australian inequality rose through the nineteenth century. Then we became more equal again, with inequality falling markedly from the 1920s to the 1970s. Now, inequality is returning to the heights of the 1920s. Leigh shows that while inequality can fuel growth, it also poses dangers to society. Too much inequality risks cleaving us into two Australias, occupying fundamentally separate worlds, with little contact between the haves and the have-nots. And the further apart the rungs on the ladder of opportunity, the harder it is for a kid born into poverty to enter the middle class. Battlers and Billionaires sheds fresh light on what makes Australia distinctive, and what it means to have – and keep – a fair go.
Author: Venkat Venkatasubramanian
Author: Venkat Venkatasubramanian
Author: Chris Hughes
Author: Barbara Robles
Author: Jennifer L. Hochschild
Author: Coral Celeste Frazer
Author: Chuck Collins
Author: Heather Boushey
Author: Richard Wilkinson
Author: Andrew Leigh
Author: Michael Marmot