Posted on 09/12/2021 1:10:39 PM PDT by Tolerance Sucks Rocks
Inequality in employment, education and earnings has cost the U.S. economy nearly $22.9 trillion over the past 30 years, a sum that is likely to increase as minority populations expand, according to a new paper from economists including Federal Reserve Bank of San Francisco President Mary Daly.
“The opportunity to participate in the economy and to succeed based on ability and effort is at the foundation of our nation and our economy,” the authors wrote. “Unfortunately, structural barriers have persistently disrupted this narrative for many Americans, leaving the talents of millions of people underutilized or on the sidelines. The result is lower prosperity, not just for those affected but for everyone.”
The paper, published in the Brookings Institution’s Brookings Papers on Economic Activity journal, calculates how inequality in the economy has affected growth since 1990. The paper’s authors include Shelby Buckman from Stanford University, Laura Choi, vice president of community development at the San Francisco Fed, and Lily Seitelman from Boston University.
The new research adds to a growing body of literature that seeks to measure the impact of inequality in the U.S. Last year, economists Dana Peterson and Catherine Mann found that closing racial gaps would have garnered an additional $16 trillion in the U.S. economy since 2000. Economists including William Darity, Lisa Cook and others have done extensive research to show the cost of racial biases, and that these are inherent in the labor market.
(Excerpt) Read more at post-gazette.com ...
TRANSLATION: “White people are bad.”
When there is an entire culture where being a gangbanger is more acceptable than “acting white” and getting an education there will always be inequality.
The new research adds to a growing body of literature that seeks to measure the impact of inequality in the U.S. Last year, economists Dana Peterson and Catherine Mann found that closing racial gaps would have garnered an additional $16 trillion in the U.S. economy since 2000. Economists including William Darity, Lisa Cook and others have done extensive research to show the cost of racial biases, and that these are inherent in the labor market.
I wonder what a model of equal opportunity to find?
ALWAYS VICTIMS!!
By the way was any adjustment made for the disproportionate amount of crime?
Inequality (2021 version) == inequality of outcome == equity (of outcome) == communism
okay, good to know that is their conclusion.
Is the reasoning similar to what we hear about how women earn 70 cents on the dollar compared to men?
My unanswered question about that always is — if businesses could save 30% on payroll costs by only hiring women to work in a business, why does any business ever hire a man to do any work? If the business can just pay women 70 cents on the dollar, it should be a no brainer to hire women, and never hire any men.
This is another push for ‘equal outcome’. Not equal opportunity which already exists.
What has been the cost of aborted babies?
Inequality in income is not a bad thing. Check that, it is a good thing. CHECK THAT, it is a GREAT THING. If there are no restrictions on opportunities, the prospect of making a lot of money is one of the great motivators in economics. Everyone equal will kill economic growth.
Thank ya. Thank ya very much. I’ll be here all week.
It’s more likely that ignoring the Bell Curve has cost the U.S. nearly $23 trillion since 1990, or even earlier.
If not for the decimal point in this figure, I would question the truth of this claim. But with that decimal point, I'm sure that it was researched intensively, and is highly reliable. I mean, right?
The P-G is good for only two things. One is the sports section. The other is its utility as a Charmin substitute.
INEQUALITY is good. It separates the industrious from the lazy.
Only $22.9 trillion? I read somewhere that the number was closer to a quadzillion.
Numbers pulled out of thin air.
Mindless pap. Of course people will make different amounts of money because of employment and education. What they are proposing is nothing less than socialism/communism where everyone gets paid the same whether you are a dish washer or a doctor.
Affirmative action has been a huge part of the economic damage to this nation. But we won’t talk about that.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.