Engine Of Inequality

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Engine of Inequality

Author : Karen Petrou
Publisher : John Wiley & Sons
ISBN 13 : 1119726743
Total Pages : 291 pages
Book Rating : 4.1/5 (197 download)

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Book Synopsis Engine of Inequality by : Karen Petrou

Download or read book Engine of Inequality written by Karen Petrou and published by John Wiley & Sons. This book was released on 2021-03-03 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 Engine of Inequality, 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 immediately 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 Engine of Inequality: The Fed and the Future of Wealth in America 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.

Heredity, Family, and Inequality

Author : Michael Beenstock
Publisher : MIT Press
ISBN 13 : 0262016923
Total Pages : 483 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Heredity, Family, and Inequality by : Michael Beenstock

Download or read book Heredity, Family, and Inequality written by Michael Beenstock and published by MIT Press. This book was released on 2012 with total page 483 pages. Available in PDF, EPUB and Kindle. Book excerpt: An economist critiques nature versus nurture hypotheses from behavioral genetics, developmental psychology, sociology, and economics. Empirical literature in disciplines ranging from behavioral genetics to economics shows that in virtually every aspect of life the outcomes of children are correlated to a greater or lesser extent with the outcomes of their parents and their siblings. In Heredity, Family, and Inequality, the economist Michael Beenstock offers theoretical, statistical, and methodological tools for understanding these correlations. Beenstock presents a comprehensive survey of intergenerational and sibling correlations for a broad range of outcomes--including fertility and longevity, intelligence and education, income and consumption, and deviancy and religiosity. He then offers a critique of the sometimes conflicting explanations for these correlations proposed by social scientists from such disciplines as developmental psychology, sociology, and economics. Beenstock also provides an axiomatic framework for thinking about the complex interplay of heredity, family, and environments, drawing on game theory, control theory, and econometrics. Chapters 1-7 discuss such topics as the important contributions of Francis Galton (1822-1911) to the statistical study of heredity, the family as an engine of inequality and diversity, and natural experiments designed to identify how environments, families, peer groups, and neighborhoods affect human outcomes. Chapters 8-10 present technical material on statistical, theoretical, and methodological tools used by the earlier chapters. Beenstock's goal is not to argue for either nature or nurture but to suggest more rigorous ways to assess the diverse contributions to this lively debate.

Programmed Inequality

Author : Mar Hicks
Publisher : MIT Press
ISBN 13 : 0262535181
Total Pages : 354 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis Programmed Inequality by : Mar Hicks

Download or read book Programmed Inequality written by Mar Hicks and published by MIT Press. This book was released on 2018-02-23 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This “sobering tale of the real consequences of gender bias” explores how Britain lost its early dominance in computing by systematically discriminating against its most qualified workers: women (Harvard Magazine) In 1944, Britain led the world in electronic computing. By 1974, the British computer industry was all but extinct. What happened in the intervening thirty years holds lessons for all postindustrial superpowers. As Britain struggled to use technology to retain its global power, the nation’s inability to manage its technical labor force hobbled its transition into the information age. In Programmed Inequality, Mar Hicks explores the story of labor feminization and gendered technocracy that undercut British efforts to computerize. That failure sprang from the government’s systematic neglect of its largest trained technical workforce simply because they were women. Women were a hidden engine of growth in high technology from World War II to the 1960s. As computing experienced a gender flip, becoming male-identified in the 1960s and 1970s, labor problems grew into structural ones and gender discrimination caused the nation’s largest computer user—the civil service and sprawling public sector—to make decisions that were disastrous for the British computer industry and the nation as a whole. Drawing on recently opened government files, personal interviews, and the archives of major British computer companies, Programmed Inequality takes aim at the fiction of technological meritocracy. Hicks explains why, even today, possessing technical skill is not enough to ensure that women will rise to the top in science and technology fields. Programmed Inequality shows how the disappearance of women from the field had grave macroeconomic consequences for Britain, and why the United States risks repeating those errors in the twenty-first century.

Economic Inequality and Higher Education

Author : Stacy Dickert-Conlin
Publisher : Russell Sage Foundation
ISBN 13 : 1610441567
Total Pages : 224 pages
Book Rating : 4.6/5 (14 download)

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Book Synopsis Economic Inequality and Higher Education by : Stacy Dickert-Conlin

Download or read book Economic Inequality and Higher Education written by Stacy Dickert-Conlin and published by Russell Sage Foundation. This book was released on 2007-06-21 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The vast disparities in college attendance and graduation rates between students from different class backgrounds is a growing social concern. Economic Inequality and Higher Education investigates the connection between income inequality and unequal access to higher education, and proposes solutions that the state and federal governments and schools themselves can undertake to make college accessible to students from all backgrounds. Economic Inequality and Higher Education convenes experts from the fields of education, economics, and public policy to assess the barriers that prevent low-income students from completing college. For many students from disadvantaged socioeconomic backgrounds, the challenge isn't getting into college, but getting out with a degree. Helping this group will require improving the quality of education in the community colleges and lower-tier public universities they are most likely to attend. Documenting the extensive disjuncture between the content of state-mandated high school testing and college placement exams, Michael Kirst calls for greater alignment between K-12 and college education. Amanda Pallais and Sarah Turner examine barriers to access at elite universities for low-income students—including tuition costs, lack of information, and poor high school records—as well as recent initiatives to increase socioeconomic diversity at private and public universities. Top private universities have increased the level and transparency of financial aid, while elite public universities have focused on outreach, mentoring, and counseling, and both sets of reforms show signs of success. Ron Ehrenberg notes that financial aid policies in both public and private universities have recently shifted towards merit-based aid, away from the need-based aid that is most helpful to low-income students. Ehrenberg calls on government policy makers to create incentives for colleges to increase their representation of low-income students. Higher education is often vaunted as the primary engine of upward mobility. Instead, as inequality in America rises, colleges may be reproducing income disparities from one generation to the next. Economic Inequality and Higher Education illuminates this worrisome trend and suggests reforms that educational institutions and the government must implement to make the dream of a college degree a reality for all motivated students.

Toxic Inequality

Author : Thomas M. Shapiro
Publisher : Basic Books
ISBN 13 : 0465094872
Total Pages : 272 pages
Book Rating : 4.4/5 (65 download)

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Book Synopsis Toxic Inequality by : Thomas M. Shapiro

Download or read book Toxic Inequality written by Thomas M. Shapiro and published by Basic Books. This book was released on 2017-03-14 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Everyone concerned about the toxic effects of inequality must read this book."--Robert B. Reich "This is one of the most thought-provoking books I have read on economic inequality in the US."--William Julius Wilson Since the Great Recession, most Americans' standard of living has stagnated or declined. Economic inequality is at historic highs. But inequality's impact differs by race; African Americans' net wealth is just a tenth that of white Americans, and over recent decades, white families have accumulated wealth at three times the rate of black families. In our increasingly diverse nation, sociologist Thomas M. Shapiro argues, wealth disparities must be understood in tandem with racial inequities--a dangerous combination he terms "toxic inequality." In Toxic Inequality, Shapiro reveals how these forces combine to trap families in place. Following nearly two hundred families of different races and income levels over a period of twelve years, Shapiro's research vividly documents the recession's toll on parents and children, the ways families use assets to manage crises and create opportunities, and the real reasons some families build wealth while others struggle in poverty. The structure of our neighborhoods, workplaces, and tax code-much more than individual choices-push some forward and hold others back. A lack of assets, far more common in families of color, can often ruin parents' careful plans for themselves and their children. Toxic inequality may seem inexorable, but it is not inevitable. America's growing wealth gap and its yawning racial divide have been forged by history and preserved by policy, and only bold, race-conscious reforms can move us toward a more just society.

Algorithms of Oppression

Author : Safiya Umoja Noble
Publisher : NYU Press
ISBN 13 : 1479837245
Total Pages : 245 pages
Book Rating : 4.4/5 (798 download)

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Book Synopsis Algorithms of Oppression by : Safiya Umoja Noble

Download or read book Algorithms of Oppression written by Safiya Umoja Noble and published by NYU Press. This book was released on 2018-02-20 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: Acknowledgments -- Introduction: the power of algorithms -- A society, searching -- Searching for Black girls -- Searching for people and communities -- Searching for protections from search engines -- The future of knowledge in the public -- The future of information culture -- Conclusion: algorithms of oppression -- Epilogue -- Notes -- Bibliography -- Index -- About the author

Globalization and Inequality

Author : Elhanan Helpman
Publisher : Harvard University Press
ISBN 13 : 0674988930
Total Pages : 232 pages
Book Rating : 4.6/5 (749 download)

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Book Synopsis Globalization and Inequality by : Elhanan Helpman

Download or read book Globalization and Inequality written by Elhanan Helpman and published by Harvard University Press. This book was released on 2018-08-06 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization is not the primary cause of rising inequality. That is the conclusion of this penetrating study by Elhanan Helpman, a leading expert on international trade. If we wish to curb inequality while protecting what is best about globalization, he shows, we must start with a clear view of how globalization does, and does not, shape our world.

Capitalists, Arise!

Author : Peter Georgescu
Publisher : Berrett-Koehler Publishers
ISBN 13 : 1523082674
Total Pages : 145 pages
Book Rating : 4.5/5 (23 download)

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Book Synopsis Capitalists, Arise! by : Peter Georgescu

Download or read book Capitalists, Arise! written by Peter Georgescu and published by Berrett-Koehler Publishers. This book was released on 2017-05 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: Showing how the short-term thinking spawned by shareholder primacy lies at the root of our current economic malaise and social breakdown, this sobering depiction offers concrete actions that capitalists themselves can take to create a better future. --

Degrees of Inequality

Author : Suzanne Mettler
Publisher : Basic Books (AZ)
ISBN 13 : 0465044964
Total Pages : 274 pages
Book Rating : 4.4/5 (65 download)

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Book Synopsis Degrees of Inequality by : Suzanne Mettler

Download or read book Degrees of Inequality written by Suzanne Mettler and published by Basic Books (AZ). This book was released on 2014-03-11 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: America’s higher education system is failing its students. In the space of a generation, we have gone from being the best-educated society in the world to one surpassed by eleven other nations in college graduation rates. Higher education is evolving into a caste system with separate and unequal tiers that take in students from different socio-economic backgrounds and leave them more unequal than when they first enrolled. Until the 1970s, the United States had a proud history of promoting higher education for its citizens. The Morrill Act, the G.I. Bill and Pell Grants enabled Americans from across the income spectrum to attend college and the nation led the world in the percentage of young adults with baccalaureate degrees. Yet since 1980, progress has stalled. Young adults from low to middle income families are not much more likely to graduate from college than four decades ago. When less advantaged students do attend, they are largely sequestered into inferior and often profit-driven institutions, from which many emerge without degrees—and shouldering crushing levels of debt. In Degrees of Inequality, acclaimed political scientist Suzanne Mettler explains why the system has gone so horribly wrong and why the American Dream is increasingly out of reach for so many. In her eye-opening account, she illuminates how political partisanship has overshadowed America’s commitment to equal access to higher education. As politicians capitulate to corporate interests, owners of for-profit colleges benefit, but for far too many students, higher education leaves them with little besides crippling student loan debt. Meanwhile, the nation’s public universities have shifted the burden of rising costs onto students. In an era when a college degree is more linked than ever before to individual—and societal—well-being, these pressures conspire to make it increasingly difficult for students to stay in school long enough to graduate. By abandoning their commitment to students, politicians are imperiling our highest ideals as a nation. Degrees of Inequality offers an impassioned call to reform a higher education system that has come to exacerbate, rather than mitigate, socioeconomic inequality in America.

From the New Deal to the War on Schools

Author : Daniel S. Moak
Publisher : UNC Press Books
ISBN 13 : 1469668211
Total Pages : 341 pages
Book Rating : 4.4/5 (696 download)

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Book Synopsis From the New Deal to the War on Schools by : Daniel S. Moak

Download or read book From the New Deal to the War on Schools written by Daniel S. Moak and published by UNC Press Books. This book was released on 2022-05-10 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an era defined by political polarization, both major U.S. parties have come to share a remarkably similar understanding of the education system as well as a set of punitive strategies for fixing it. Combining an intellectual history of social policy with a sweeping history of the educational system, Daniel S. Moak looks beyond the rise of neoliberalism to find the origin of today's education woes in Great Society reforms. In the wake of World War II, a coalition of thinkers gained dominance in U.S. policymaking. They identified educational opportunity as the ideal means of addressing racial and economic inequality by incorporating individuals into a free market economy. The passage of the Elementary and Secondary Education Act (ESEA) in 1965 secured an expansive federal commitment to this goal. However, when social problems failed to improve, the underlying logic led policymakers to hold schools responsible. Moak documents how a vision of education as a panacea for society's flaws led us to turn away from redistributive economic policies and down the path to market-based reforms, No Child Left Behind, mass school closures, teacher layoffs, and other policies that plague the public education system to this day.

Lower Ed

Author : Tressie McMillan Cottom
Publisher : New Press, The
ISBN 13 : 162097102X
Total Pages : 256 pages
Book Rating : 4.6/5 (29 download)

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Book Synopsis Lower Ed by : Tressie McMillan Cottom

Download or read book Lower Ed written by Tressie McMillan Cottom and published by New Press, The. This book was released on 2017-02-28 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than two million students are enrolled in for-profit colleges, from the small family-run operations to the behemoths brandished on billboards, subway ads, and late-night commercials. These schools have been around just as long as their bucolic not-for-profit counterparts, yet shockingly little is known about why they have expanded so rapidly in recent years—during the so-called Wall Street era of for-profit colleges. In Lower Ed Tressie McMillan Cottom—a bold and rising public scholar, herself once a recruiter at two for-profit colleges—expertly parses the fraught dynamics of this big-money industry to show precisely how it is part and parcel of the growing inequality plaguing the country today. McMillan Cottom discloses the shrewd recruitment and marketing strategies that these schools deploy and explains how, despite the well-documented predatory practices of some and the campus closings of others, ending for-profit colleges won’t end the vulnerabilities that made them the fastest growing sector of higher education at the turn of the twenty-first century. And she doesn’t stop there. With sharp insight and deliberate acumen, McMillan Cottom delivers a comprehensive view of postsecondary for-profit education by illuminating the experiences of the everyday people behind the shareholder earnings, congressional battles, and student debt disasters. The relatable human stories in Lower Ed—from mothers struggling to pay for beauty school to working class guys seeking “good jobs” to accomplished professionals pursuing doctoral degrees—illustrate that the growth of for-profit colleges is inextricably linked to larger questions of race, gender, work, and the promise of opportunity in America. Drawing on more than one hundred interviews with students, employees, executives, and activists, Lower Ed tells the story of the benefits, pitfalls, and real costs of a for-profit education. It is a story about broken social contracts; about education transforming from a public interest to a private gain; and about all Americans and the challenges we face in our divided, unequal society.

The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay

Author : Emmanuel Saez
Publisher : W. W. Norton & Company
ISBN 13 : 1324002735
Total Pages : 232 pages
Book Rating : 4.3/5 (24 download)

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Book Synopsis The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay by : Emmanuel Saez

Download or read book The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay written by Emmanuel Saez and published by W. W. Norton & Company. This book was released on 2019-10-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: America’s runaway inequality has an engine: our unjust tax system. Even as they became fabulously wealthy, the ultra-rich have had their taxes collapse to levels last seen in the 1920s. Meanwhile, working-class Americans have been asked to pay more. The Triumph of Injustice presents a forensic investigation into this dramatic transformation, written by two economists who revolutionized the study of inequality. Eschewing anecdotes and case studies, Emmanuel Saez and Gabriel Zucman offer a comprehensive view of America’s tax system, based on new statistics covering all taxes paid at all levels of government. Their conclusion? For the first time in more than a century, billionaires now pay lower tax rates than their secretaries. Blending history and cutting-edge economic analysis, and writing in lively and jargon-free prose, Saez and Zucman dissect the deliberate choices (and sins of indecision) that have brought us to today: the gradual exemption of capital owners; the surge of a new tax avoidance industry, and the spiral of tax competition among nations. With clarity and concision, they explain how America turned away from the most progressive tax system in history to embrace policies that only serve to compound the wealth of a few. But The Triumph of Injustice is much more than a laser-sharp analysis of one of the great political and intellectual failures of our time. Saez and Zucman propose a visionary, democratic, and practical reinvention of taxes, outlining reforms that can allow tax justice to triumph in today’s globalized world and democracy to prevail over concentrated wealth. A pioneering companion website allows anyone to evaluate proposals made by the authors, and to develop their own alternative tax reform at taxjusticenow.org.

Technology and Inequality

Author : Jonathan P. Allen
Publisher : Springer
ISBN 13 : 3319569589
Total Pages : 158 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis Technology and Inequality by : Jonathan P. Allen

Download or read book Technology and Inequality written by Jonathan P. Allen and published by Springer. This book was released on 2017-06-27 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book will summarize what we know about technology and inequality across disciplines, and seek out new ways to analyze this relationship based on technology and business practices, with the objective of restoring digital technology as an engine of opportunity. Besides the unique focus on the role of technology in inequality, the book will have a unifying theme of tracing wealth creation and wealth capture in the technology sector, and relating specific practices—what technology companies actually do—to larger shifts in wealth and power. A clear conceptual framework will be used to analyze key industry case studies: search engines, social media, and the ‘sharing’ economy.

How Schools Really Matter

Author : Douglas B. Downey
Publisher : University of Chicago Press
ISBN 13 : 022673336X
Total Pages : 176 pages
Book Rating : 4.2/5 (267 download)

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Book Synopsis How Schools Really Matter by : Douglas B. Downey

Download or read book How Schools Really Matter written by Douglas B. Downey and published by University of Chicago Press. This book was released on 2020-12-07 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most of us assume that public schools in America are unequal—that the quality of the education varies with the location of the school and that as a result, children learn more in the schools that serve mostly rich, white kids than in the schools serving mostly poor, black kids. But it turns out that this common assumption is misplaced. As Douglas B. Downey shows in How Schools Really Matter, achievement gaps have very little to do with what goes on in our schools. Not only do schools not exacerbate inequality in skills, they actually help to level the playing field. The real sources of achievement gaps are elsewhere. A close look at the testing data in seasonal patterns bears this out. It turns out that achievement gaps in reading skills between high- and low-income children are nearly entirely formed prior to kindergarten, and schools do more to reduce them than increase them. And when gaps do increase, they tend to do so during summers, not during school periods. So why do both liberal and conservative politicians strongly advocate for school reform, arguing that the poor quality of schools serving disadvantaged children is an important contributor to inequality? It’s because discussing the broader social and economic reforms necessary for really reducing inequality has become too challenging and polarizing—it’s just easier to talk about fixing schools. Of course, there are differences that schools can make, and Downey outlines the kinds of reforms that make sense given what we know about inequality outside of schools, including more school exposure, increased standardization, and better and fairer school and teacher measurements. How Schools Really Matter offers a firm rebuke to those who find nothing but fault in our schools, which are doing a much better than job than we give them credit for. It should also be a call to arms for educators and policymakers: the bottom line is that if we are serious about reducing inequality, we are going to have to fight some battles that are bigger than school reform—battles against the social inequality that is reflected within, rather than generated by—our public school system.

The Inequality Machine

Author : Paul Tough
Publisher : HarperCollins
ISBN 13 : 0544944364
Total Pages : 431 pages
Book Rating : 4.5/5 (449 download)

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Book Synopsis The Inequality Machine by : Paul Tough

Download or read book The Inequality Machine written by Paul Tough and published by HarperCollins. This book was released on 2019-09-10 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published as The Years That Matter Most From best-selling author Paul Tough, an indelible and explosive book on the glaring injustices of higher education, including unfair admissions tests, entrenched racial barriers, and crushing student debt. Now updated and expanded for the pandemic era. When higher education works the way it’s supposed to, there is no better tool for social mobility—for lifting young people out of challenging circumstances and into the middle class and beyond. In reality, though, American colleges and universities have become the ultimate tool of social immobility—a system that secures a comfortable future for the children of the wealthy while throwing roadblocks in the way of students from struggling families. Combining vivid and powerful personal stories with deep, authoritative reporting, Paul Tough explains how we got into this mess and explores the innovative reforms that might get us out. Tough examines the systemic racism that pervades American higher education, shows exactly how the SATs give an unfair advantage to wealthy students, and guides readers from Ivy League seminar rooms to the welding shop at a rural community college. At every stop, he introduces us to young Americans yearning for a better life—and praying that a college education might help them get there. With a new preface and afterword by the author exposing how the coronavirus pandemic has shaken the higher education system anew.

Engines of Anxiety

Author : Wendy Nelson Espeland
Publisher : Russell Sage Foundation
ISBN 13 : 1610448561
Total Pages : 281 pages
Book Rating : 4.6/5 (14 download)

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Book Synopsis Engines of Anxiety by : Wendy Nelson Espeland

Download or read book Engines of Anxiety written by Wendy Nelson Espeland and published by Russell Sage Foundation. This book was released on 2016-05-09 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Students and the public routinely consult various published college rankings to assess the quality of colleges and universities and easily compare different schools. However, many institutions have responded to the rankings in ways that benefit neither the schools nor their students. In Engines of Anxiety, sociologists Wendy Espeland and Michael Sauder delve deep into the mechanisms of law school rankings, which have become a top priority within legal education. Based on a wealth of observational data and over 200 in-depth interviews with law students, university deans, and other administrators, they show how the scramble for high rankings has affected the missions and practices of many law schools. Engines of Anxiety tracks how rankings, such as those published annually by the U.S. News & World Report, permeate every aspect of legal education, beginning with the admissions process. The authors find that prospective law students not only rely heavily on such rankings to evaluate school quality, but also internalize rankings as expressions of their own abilities and flaws. For example, they often view rejections from “first-tier” schools as a sign of personal failure. The rankings also affect the decisions of admissions officers, who try to balance admitting diverse classes with preserving the school’s ranking, which is dependent on factors such as the median LSAT score of the entering class. Espeland and Sauder find that law schools face pressure to admit applicants with high test scores over lower-scoring candidates who possess other favorable credentials. Engines of Anxiety also reveals how rankings have influenced law schools’ career service departments. Because graduates’ job placements play a major role in the rankings, many institutions have shifted their career-services resources toward tracking placements, and away from counseling and network-building. In turn, law firms regularly use school rankings to recruit and screen job candidates, perpetuating a cycle in which highly ranked schools enjoy increasing prestige. As a result, the rankings create and reinforce a rigid hierarchy that penalizes lower-tier schools that do not conform to the restrictive standards used in the rankings. The authors show that as law schools compete to improve their rankings, their programs become more homogenized and less accessible to non-traditional students. The ranking system is considered a valuable resource for learning about more than 200 law schools. Yet, Engines of Anxiety shows that the drive to increase a school’s rankings has negative consequences for students, educators, and administrators and has implications for all educational programs that are quantified in similar ways.

The Upside of Inequality

Author : Edward Conard
Publisher : National Geographic Books
ISBN 13 : 1595231234
Total Pages : 0 pages
Book Rating : 4.5/5 (952 download)

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Book Synopsis The Upside of Inequality by : Edward Conard

Download or read book The Upside of Inequality written by Edward Conard and published by National Geographic Books. This book was released on 2016-09-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scourge of America’s economy isn't the success of the 1 percent—quite the opposite. The real problem is the government’s well-meaning but misguided attempt to reduce the payoffs for success. Four years ago, Edward Conard wrote a controversial bestseller, Unintended Consequences, which set the record straight on the financial crisis of 2008 and explained why U.S. growth was accelerating relative to other high-wage economies. He warned that loose monetary policy would produce neither growth nor inflation, that expansionary fiscal policy would have no lasting benefit on growth in the aftermath of the crisis, and that ill-advised attempts to rein in banking based on misplaced blame would slow an already weak recovery. Unfortunately, he was right. Now he’s back with another provocative argument: that our current obsession with income inequality is misguided and will only slow growth further. Using fact-based logic, Conard tracks the implications of an economy now constrained by both its capacity for risk-taking and by a shortage of properly trained talent—rather than by labor or capital, as was the case historically. He uses this fresh perspective to challenge the conclusions of liberal economists like Larry Summers and Joseph Stiglitz and the myths of “crony capitalism” more broadly. Instead, he argues that the growing wealth of most successful Americans is not to blame for the stagnating incomes of the middle and working classes. If anything, the success of the 1 percent has put upward pressure on employment and wages. Conard argues that high payoffs for success motivate talent to get the training and take the risks that gradually loosen the constraints to growth. Well-meaning attempts to decrease inequality through redistribution dull these incentives, gradually hurting not just the 1 percent but everyone else as well. Conard outlines a plan for growing middle- and working-class wages in an economy with a near infinite supply of labor that is shifting from capital-intensive manufacturing to knowledge-intensive, innovation-driven fields. He urges us to stop blaming the success of the 1 percent for slow wage growth and embrace the upside of inequality: faster growth and greater prosperity for everyone.