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Karen Petrou - Engine of Inequality

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Название:
Engine of Inequality
Автор:
Karen Petrou
Жанр:
unrecognised / на английском языке
Год:
неизвестен
ISBN:
нет данных
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Engine of Inequality: краткое содержание, описание и аннотация

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The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In
Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible.
Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for
turning around the enormous nationwide problem of economic inequality, this groundbreaking book:
Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists
should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.

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34 33. Bruce Stokes, “A Decade After the Financial Crisis, Economic Confidence Rebounds in Many Countries,” Pew Research Center (September 18, 2018), available at http://www.pewglobal.org/2018/09/18/a-decade-after-the-financial-crisis-economic-confidence-rebounds-in-many-countries/?mod=article_inline.

35 34. William R. Emmons, Ana H. Kent, and Lowell R. Ricketts, “The Demographics of Wealth: How Education, Race and Birth Year Shape Financial Outcomes,” FRB St. Louis The Demographics of Wealth 2018 Series 5 (February 2018), available at https://www.stlouisfed.org/∼/media/Files/PDFs/HFS/essays/HFS_essay_1-2018.pdf?la=en.

36 35. Organization for Economic Cooperation and Development (OECD), A Broken Social Elevator? How to Promote Social Mobility, 27 (June 15, 2018), available at https://www.oecd.org/social/soc/Social-mobility-2018-Overview-MainFindings.pdf.

37 36. Moritz Kuhn, Moritz Schularick, and Ulrike I. Steins, “Income and Wealth Inequality in America, 1949–2016,” Federal Reserve Bank of Minneapolis Opportunity and Inclusive Growth Institute Working Paper 9 (June 2018), available at https://www.minneapolisfed.org/institute/working-papers-institute/iwp9.pdf.

38 37. Lisa J. Dettling, Joanne W. Hsu, Lindsay Jacobs, Kevin B. Morre, and Jeffrey P. Thompson, “Recent Trends in Wealth-Holding by Race and Ethnicity: Evidence from the Survey of Consumer Finances,” FEDS Notes, FRB (September 27, 2017), available at https://www.federalreserve.gov/econres/notes/feds-notes/recent-trends-in-wealth-holding-by-race-and-ethnicity-evidence-from-the-survey-of-consumer-finances-20170927.htm.

39 38. Jung Hyun Choi, “Breaking Down the Black-White Homeownership Gap,” Urban Institute (February 21, 2020), available at https://www.urban.org/urban-wire/breaking-down-black-white-homeownership-gap.

40 39. Census Bureau, “Quarterly Residential Vacancies and Homeownership, Fourth Quarter 2019,” Census Bureau Release No. CB20-05 (January 30, 2020), available at https://www.census.gov/housing/hvs/files/currenthvspress.pdf.

41 40. Ibid.

42 41. FRB, “Distribution of Household Wealth in the U.S. since 1989.”

43 42. Census Bureau, “Quick Facts: United States,” accessed February 24, 2020, available at https://www.census.gov/quickfacts/fact/table/US/PST045218.

44 43. National Urban League, Save Our Cities: Powering the Digital Revolution: State of Black America 2018, 42nd edition, 5 (May 2, 2017), available at http://www.ncbw-qcmc.org/uploads/1/0/2/9/102980742/nul-soba2018-executive_summary.pdf.

45 44. François Bourguignon, The Globalization of Inequality, translated by Thomas Scott-Railton (Princeton: Princeton University Press, 2015).

46 45. Alvaredo et al., “World Inequality Report,” 131.

47 46. Ibid., 156.

48 47. Ibid., 70.

49 48. Mary C. Daly, Joseph H. Pedtke, Nicolas Petrosky-Nadeau, and Annemarie Schweinert, “Why Aren't U.S. Workers Working?” FRB San Francisco Economic Letter 2018-24 (November 13, 2018), available at https://www.frbsf.org/economic-research/publications/economic-letter/2018/november/why-are-us-workers-not-participating/?utm_source=frbsf-home-economic-letter-title&utm_medium=frbsf&utm_campaign=economic-letter.

50 49. FRB, “Report on the Economic Well-Being of U.S. Households in 2019,” 15.

51 50. Jacob Fun Kirkegaard, “Is Denmark the new ‘American dream’?” Peterson Institute for International Economics Realtime Economic Issues Watch (February 21, 2020), available at https://www.piie.com/blogs/realtime-economic-issues-watch/denmark-new-american-dream#_ftn1.

52 51. FRB “Median value of before-tax family income for families with holdings by percentile of income,” 2016 Survey of Consumer Finances Chart Book, 7 (September 2017), available at https://www.federalreserve.gov/econres/files/BulletinCharts.pdf.

53 52. FRB, “Median value of net worth for families with holdings by percentile of income,” 2016 Survey of Consumer Finances Chart Book, 43 (September 2017), available at https://www.federalreserve.gov/econres/files/BulletinCharts.pdf

54 53. FRB, “Median value of before-tax family income.”

55 54. Ibid.

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