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Addressing Inequality, Seizing Opportunity: Insights on Economic Progress

Explore the impact of structural inequality and limited opportunity on the economy, and discover what it takes to reduce inequality while boosting opportunities for all. Delve into recent employment trends, income inequality, and the significance of policies to enhance economic growth. Uncover the connection between dysfunctional politics, macroeconomic challenges, and real median income disparities. Learn from successful initiatives like the Seatac Minimum Wage Victory and the need to address demographic and racial pressures for a more inclusive society.

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Addressing Inequality, Seizing Opportunity: Insights on Economic Progress

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  1. Inequality, Opportunity, and What It Will Take to Get Less of the Former and More of the Latter Jared Bernstein CBPP Seattle, WA Washington State Budget and Policy Center 12/12/13

  2. Current Events: Where Are We, Economy-Wise? • Getting better doesn’t mean you’re healed. • Just who’s economy you talkin’ about? • Recent employment trends, the good, the less good • Washington State and the nation: lots of similarities by one very conspicuous difference (i.e., tax revenues)

  3. Sources: BES, S&P, Sentier Research

  4. Source: SCF

  5. What’s Wrong • Slack Labor Markets • Structural inequality feeds into: • Diminished opportunity • Dysfunctional politics • Macro-economic problems (bubble, bust, repeat) • Facts versus ideology, truthiness, “think tanks” for hire, etc. • Austerity, “Deficit Attention Disorder”

  6. Real Median Income, Working Age HHs Source: Census Bureau

  7. What’s Right • Seatac Min Wg Victory: You go, Seattle! • Is it “outside the sample?” Yes…About time someone got outside the sample. • Recognition of inequality, opportunity linkages • Disgust with dysfunction • Demographic, racial, ethnic pressures: social insurance, politics, immigration reform. • Divergent quality of the analysis: He said, she said…but “she” can’t be trusted!

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