Publishing Institution: Economics for Inclusive Prosperity (EfIP) / Topic: Labor Policies

Author:: Suresh Naidu
Publication Date:: 01-2019
Content Type:: Policy Brief
Institution:: Economics for Inclusive Prosperity (EfIP)
Abstract:: Private sector union density in the United States has fallen below 7%, but new historical evidence shows high union density played an important role in compressing the US income distribution at mid-century and lowering intergenerational income persistence. Other recent evidence on pervasive labor market power suggests that unions may be able raise wages without severe dis-employment effects, and may alleviate inefficient contracting problems. Despite substantial survey evidence indicating latent demand for unions, employers have successfully fought unionization efforts in rising service sectors, and a combination of legal restrictions and economic transformations have impaired the ability of US unions to solve collective action problems at the appropriate scale – an issue that economics may be able to help ameliorate.
Topic:: Economics, Labor Issues, Income Inequality, and Labor Policies
Political Geography:: United States

Author:: Daron Acemoglu
Publication Date:: 06-2019
Content Type:: Policy Brief
Institution:: Economics for Inclusive Prosperity (EfIP)
Abstract:: Progressive policy proposals that would have appeared radical just a few years ago, including high marginal tax rates, wealth taxes, universal basic income, single-payer health insurance, and free college for all, are now on the agenda. The recognition that we can do more to create shared prosperity — that is, economic growth benefiting society at large, not just corporations and the very well-educated — is a welcome development. But are we targeting the right policies? We are at a critical juncture both economically and politically. We do not have much time left to reverse the trend towards greater inequality and worsening economic prospects for less educated Americans before its social consequences become more deeply ingrained. And the 2020 presidential election may provide a unique opportunity to adopt fundamentally different economic policies. Failing to identify the right policy priorities would not only squander this critical juncture; it could also deepen the rift between the different wings of US politics.
Topic:: Economics, Labor Issues, Employment, Labor Policies, Economic Policy, and Economic Theory
Political Geography:: United States

Author:: Maximilian Kasy
Publication Date:: 08-2019
Content Type:: Working Paper
Institution:: Economics for Inclusive Prosperity (EfIP)
Abstract:: Decision making based on data - whether by policymakers drawing on empirical research, or by algorithms using machine learning - is becoming ever more widespread. Any time such decisions are made, we need to carefully think about the goals we want to achieve, and the policies we might possibly use to achieve them. Data cannot absolve us of this responsibility. They do not allow us to avoid value judgements, and do not relieve us from taking sides in distributional conflicts. This essay introduces a general framework to clarify this point, and then discusses a series of settings in which the choice of objectives (goals) has far-reaching and maybe unexpected implications.
Topic:: Economics, Science and Technology, Labor Policies, Economic Policy, and Artificial Intelligence
Political Geography:: United States

Author:: Arindrajit Dube
Publication Date:: 12-2018
Content Type:: Policy Brief
Institution:: Economics for Inclusive Prosperity (EfIP)
Abstract:: During the past 40 years, the United States has experienced a sharp and sustained rise in wage and income inequality. The high level of inequality in the United States reflects both a disconnect between (1) average wages and productivity, and (2) top and bottom wages.
Topic:: Economics, Labor Issues, Income Inequality, Labor Policies, Wage Subsidies, Economic Policy, and Economic Theory
Political Geography:: United States

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