An earlier post (link) highlighted the growing severity of inequalities of wealth and income in the United States, as well as Elizabeth Warren's very sensible "billionaire" tax proposal. According to a 2020 article in Forbes, "According to the latest Fed data, the top 1% of Americans have a combined net worth of $34.2 trillion (or 30.4% …
Carlyle’s critique of modernity
What is wrong with life in the modern world? The complaint that modern society represents a toxic reduction of the importance of community in the lives of individuals is a familiar one. One version of this critique is the idea is that modern society has replaced all personal bonds and relationships with a single "cash …
Alternative social systems and individual wellbeing
Communism ... or Capitalism? A joke from Poland in the 1970s: "In capitalism it is a question of man's exploitation by man. In communism it is the reverse." A modern social system is an environment where millions of people find opportunities, develop their talents, express their beliefs, and earn their livings within the context of …
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Development ethnography and the life of the poor
Indian economists V. K. Ramachandran and Madhura Swaminathan have edited a highly interesting volume, Telling the Truth, Taking Sides: Essays for N. Ram, that will be of interest to anyone concerned with the progress of India in recent years. The book is a set of essays dedicated to the impact and progressive legacy of N Ram, …
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Guest post: VK Ramachandran on details of life as a day laborer in India
[V. K. Ramachandran was a Professor of Economics at the Indian Statistical Institute, and is at present vice chairman of the State Planning Board of the state of Kerala. He is the author of Wage Labour and Unfreedom in Agriculture: An Indian Case Study. Previous discussions of Ramachandran's work in Understanding Society can be found …
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Why a war on poor people?
American conservatives for the past several decades have shown a remarkable hostility to poor people in our country. The recent effort to slash the SNAP food stamp program in the House (link); the astounding refusal of 26 Republican governors to expand Medicaid coverage in their states -- depriving millions of poor people from access to …
Poverty and economics
How important should the subject of poverty be within the discipline of economics? Some economists appear to think it is a very small issue compared to the magnificent mathematics of general equilibrium theory. Others believe that economics should fundamentally be about the sources of human well-being and misery, and that understanding poverty is absolutely fundamental …
Life quality across structural change
Periods of rapid structural change are particularly likely to lead to decline in the quality of life of some sections of the affected population. Change creates winners and losers; and it is common that the gains and losses are channeled into very distinct groups of people. This is true during periods of large-scale migration, …
Urban marginality
If you live within the reach of a major American city -- and most Americans do -- then you know what "marginality" is. It is the sizable sub-population of metropolitan America of young men and women who have been locked out of what we think of as the indispensable mechanisms of social mobility: decent education, …
Quality of life in China
One of the important developments in efforts to measure economic progress has been the creation of various measures of quality of life. Average income by itself is not a good indicator of wellbeing; instead we need to have a way of assessing the health, nutrition, and education status of a population over time. The Human …
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