Why So Few American Economists Are Studying Inequality

Stephan:  This is an important essay about wealth inequity, that raises issues rarely touched on my American mainstream media.

feat_infographic_mainimageWealth at the top of the income distribution is skyrocketing, leading to growing inequality. This trend is especially pronounced in the United States. But much of the leading research on the topic isn’t coming from American economists.

A French economist, Thomas Piketty, wrote the blockbuster 2013 book Capital in the 21st Century about the growth of extreme wealth inequality; Piketty and (French) Berkeley colleague Emmanuel Saez co-authored a heavily quoted paper, “Income Inequality in the United States 1913-1998”; Saez has written exhaustively about the evolution of incomes of the top 1 percent, along with another (French) Berkeley colleague, Gabriel Zucman, who himself writes about how the top 1 percent hide their wealth offshore.

Those three are heavy hitters in the research on wealth inequality; other top scholars are also from Europe. There’s the British economist Anthony Atkinson at the London School of Economics, who has co-authored papers with Piketty and Saez; Nicholas Bloom, a British economist who writes about inequality at Stanford; Thomas Phillipon, a French economist at New York University who studies the financial industry and outsized compensation; Branko Milanovic, a Serbian economist at […]

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Ocean Warming Is Already Affecting Arctic Fish And Birds

Stephan:  Here is confirmation of the informal temperature measurements we took from the boat on my recent cruise in Alaskan and Canadian waters -- as high as 74°F/24°C. The impact on the fisher men has been catastrophic, the worse year since 1965, and many told us at moorings, fuel docks, in in remote little towns where we went for supplies that a lot of them were going to go bankrupt.
Fishing boast in Greenland

Fishing boast in Greenland

A new report finds that the “staggering” rate of warming in the world’s oceans is shifting fisheries, spreading disease and altering the behavior of many marine species around the world – including in the Arctic.

Up until a few years ago, mackerel were unknown in Greenland’s cold waters. The small oily fish typically spawned west of the British Isles and then migrated toward the northeast along the Norwegian current to feed for the summer. But in 2007, they began to show up in large numbers in the Irminger Current around Iceland. On the ocean highway, where they once turned right, they now turned left.

By 2011, the mackerel had found their way into Greenlandic waters, prompting the launch of a new fishery. Three years later, the mackerel fishery made up 23 percent of Greenland’s export earning, an “extreme example of how climate change can impact the economy of an entire nation,” Teunis Jansen, a researcher at the Technical University of Denmark, said in a release.

The mackerel aren’t the only species being […]

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Study: One-tenth of Earth’s wilderness lost since the 1990s

Stephan:  The headline says it all.

catastrophic-wilderness-lossIt’s a bleak revelation — a new study reveals that about a tenth of the Earth’s wilderness has been lost since the 1990s. Over the last 20 years, a total area half the size of the Amazon and twice the size of Alaska has been depleted.

The researchers behind the study, published in the journal Current Biology, say they hope that the sobering revelation that rich natural habitats like the Amazon have been decimated in a relatively short amount of time will act as a wakeup call to global leaders to emphasize conservation efforts in their environmental protection policies.

When asked why these important, at-risk areas haven’t been better protected, study lead author James Watson points the finger at government leaders around the world.

“Put simply — no international treaty talks about the importance of wilderness or has any targets that nations must follow that limit their (wilderness areas’) loss,” Watson, an associate professor at the University of Queensland in Australia, wrote in an email to CBS News.

The study […]

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White Privilege Has Enormous Implications for Policy — But Whites Don’t Think It Exists

Stephan:  The issue of White privilege, in my view, is a very big deal; I believe it is the source of much of the energy in the Trump campaign. I know from my days in the Civil Rights movement back in the 1950s and 60s, that that things I took for granted were issues that caused great stress for my Black friends. For instance, I was never concerned about a traffic stop in the South. It never occurred to me that I  might physically be at risk. Black friends told me their experiences, and I suddenly realized that although we were friends we lived in different worlds. The U.S. is projected to become a majority minority nation by 2040. There are many implications to that statement, and we better start talking about this.
Republican Representative Daryl Issa

Republican Representative Daryl Issa

Barack Obama’s presidency has been defined by a new understanding by Americans that the country has yet to truly confront racism. His nomination was greeted with optimism which quickly turned sour, with 69 percent of Americans saying race relations are generally bad, levels equal to those following the Rodney King acquittal. Police violence and structural inequities have led to the Black Lives Matter movement, while on the right, racism propelled Trump to the GOP nomination. It’s clear that solving America’s many problems, from rampant levels of inequality to unemployment to lagging education systems to rising health care costs, will require us to understand how racism and privilege plays out in our society.

Whites Don’t Believe They Have Privilege

How do Americans understand concepts like “white privilege” in our society? The American National Election Study (ANES), a 1,200-person survey performed this past January, is an ideal source of data because it asks questions about privilege that aren’t often included in academic surveys. We analyzed the dataset to explore how views of privilege relate […]

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When pork flies: The F-35, the Pentagon’s $1.1 trillion flying money pit, is (sort of) ready for duty

Stephan:  SR has been following the surreal saga of the F-35 for a number of years now because it represents the best case I know of the power the military industrial complex exercises over the Federal government, and its ability to get staggering amounts of taxpayer money. This story lays it all out. When you think of what could have been done with the trillion dollars this plane cost well it make your head explode.
F-35 Credit: Matt Cardy

F-35
Credit: Matt Cardy

Twenty years since the Pentagon began taking bids from defense contractors, the F-35 fighter jet — the most expensive weapon ever made — is finally ready to see active duty over the Pacific Ocean. The U.S. Marine Corps expects to deploy 16 of the stealthy high-tech warplanes early next year at Iwakuni Air Station in Japan. From there, U.S. pilots will begin testing the jets in regular noncombat operations from the Navy’s USS Wasp amphibious assault vessel in what one commanding general has described as the “school of hard knocks.”

It’s a curious choice of words considering the checkered history of the much-maligned and madly over-budget F-35, which has basically been taking knocks since it was first conceived.

Years of delays, management shakeups, engine and software problems — and most important — cost overruns have made this Lockheed Martin jet initiative a punching bag and pork barrel project.

As far back as 2001, the cost of the program was termed astronomical, with […]

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