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The Economy Needs a Bit of Ingenuity
Keywords:
Tags: Renewal America,
Columbia University Professor and Nobel Prize winner, Edmund Phelps, gives suggestions for reviving the economy. He sees structural problems in the economy and recommends more inclusion. Higher employment, he says, will require a higher level of investment activity, higher business investment and new technology and products. Inclusion will require more attention to jobs gained at all levels. He suggests a program similiar to Singapore's, with a program of tax credits for companies employing low-wage workers.
Benjamin Friedman on high unemployment, income gaps and higher inequality, and the consequences for the social fabric of America
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The Economy Needs a Bit of Ingenuity
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Figures from the Center of Labor Market Studies of Northeastern University in Boston showing unemployment of 9% in the $40,000 to $50,000 annual household income group and going up to 31% at the lowest income group. Higher inequality as differences in education between lower income and higher income Americans grows. The problem of the long term unemployed is a serious one.
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