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Poverty: New Thinking About an Old Problem

Poverty: New Thinking About an Old Problem | Political Economy | Scoop.it
Here are some notes taken from a talk given by Peter Coy, Economics Editor for Bloomberg Businessweek, at the Marshall Society Economics Conference in Cambridge in January 2015.

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Let's rethink the idea of the state: it must be a catalyst for big, bold ideas | Mariana Mazzucato

Let's rethink the idea of the state: it must be a catalyst for big, bold ideas  | Mariana Mazzucato | Political Economy | Scoop.it
Economist, Mariana Mazzucato: As George Osborne envisages a smaller state, economist Mariana Mazzucato argues instead that a programme of forward-thinking public spending is crucial for a creative, prosperous society. We must stop seeing the state as a malign influence or a waste of taxpayers' money

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What Happens When American Teenagers Can't Find Work | National Journal

What Happens When American Teenagers Can't Find Work | National Journal | Political Economy | Scoop.it

Most Americans love to reminisce about their first paying job, whether it was scooping ice cream, babysitting, or working behind a retail counter. It was rarely glamorous, but earning that first paycheck was a point of pride and marked a milestone in a teenager's life.

 

By the time Andrew Sum entered his teenage years, he'd already held a job delivering newspapers. Now as an economist, one of his chief concerns is the state of the labor market for today's teenagers. The employment rates for teenagers, ages 16 to 19, plummeted from 45 percent in 2000 to just 26 percent in 2011, according to Sum's recent research for the Brookings Institution. That's the lowest rate of teen employment in the post-World War II era.

 

The teens hardest hit by the tough labor market also happen to be the least fortunate ones: those with less education, from poorer households, or from minority backgrounds. Teens whose parents earned more than $40,000 a year boasted employment rates of 26 to 28 percent, while teens whose parents made less than that threshold, were employed at rates of less than 20 percent.


These signs foreshadow potentially another summer in which too many teenagers are unable to find work, years after the recession officially ended. "Kids are less likely to work now, and the range of industries they work in is smaller--like retail, trade, or fast food. That massively reduces the number of kids on the payrolls," says Sum, who also directs the Center for Labor Market Studies at Northeastern University in Boston. It does not help that teenagers now increasingly compete against adults for minimum-wage positions.

 

These data points about low teen employment spell terrible things for the long-term health of the American economy. Study after study shows that early work experience helps teens and young adults build confidence and pick up crucial soft skills, like how to arrive at work on-time and not irritate one's boss. Ideally, those are skills one wants to learn before the mid-20s. "The results are overwhelming," Sum says. "The more you work as a teenager, the more likely you are to work five years from now. That's true at the state or national level. When young people don't get work experience, it inhibits their wages."

 

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shareable city — Brookings’s Bradley: A Sharing Economy That Serves...

shareable city — Brookings’s Bradley: A Sharing Economy That Serves... | Political Economy | Scoop.it
Brookings’s Bradley: A Sharing Economy That Serves All (by techonomymedia)

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Ending poverty requires more than growth, says WBG

While economic growth remains vital for reducing poverty, growth has its limits, according to new World Bank paper released today. Countries need to complement efforts to enhance growth with policies that allocate more resources to the extreme poor

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Piketty findings undercut by errors - FT.com

Piketty findings undercut by errors - FT.com | Political Economy | Scoop.it
Thomas Piketty’s book, ‘Capital in the Twenty-First Century’, has been the publishing sensation of the year. Its thesis of rising inequality tapped into the zeitgeist and electrified the post-financial crisis public policy debate. But, according to

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Colette Cole-Saner's curator insight, August 6, 2014 12:42 PM

How much personal opinion is attributed to such polarizing statements? The practice of pure economics is hard to find.

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FCC Chairman Wheeler Sees Limited Unlicensed Spectrum in the 600 MHz Band | Telecompetitor.com

FCC Chairman Wheeler Sees Limited Unlicensed Spectrum in the 600 MHz Band | Telecompetitor.com | Political Economy | Scoop.it

Those who had hoped that emerging higher-speed Wi-Fi technology would get a boost from new unlicensed spectrum may have to adjust their expectations. Remarks made by FCC Chairman Tom Wheeler this week suggest that the amount of unlicensed spectrum resulting from the upcoming auction of TV broadcast spectrum will be at the lower end of what has been proposed for that spectrum band.

 

In his remarks at the Brookings Institution in Washington, D.C. Monday, Wheeler also opened up the possibility that other spectrum could be made available in the 3.5 GHz band, which he referred to as an “innovation band.” Wheeler said he plans to circulate a proposal soon that would outline how the 3.5 GHz spectrum could be shared between commercial users and the government users, who currently control that band.


“Our instruction from Congress . . . is that the spectrum reallocated from broadcast licensees must be made available for auction,” said Wheeler in remarks prepared for the Brookings Institution address.

As a result, Wheeler said the spectrum that will be available for unlicensed use will include Channel 37, the guard bands, and TV white spaces.

 

TV white spaces are already available for unlicensed use but are not consistently available nationwide. Channel 37 for years was reserved for government use but new database technology may enable unlicensed users to use it in areas where the government is not using it.

 

The upshot is that the only truly new unlicensed spectrum will be the guard bands.

 

Guard bands would likely be at the upper and lower ends of the swath of broadcast spectrum freed up for auction. Wheeler did not specify how wide the guard bands would be but bands in the range of 5-6 MHz have been proposed.

 

Assuming one of those options is chosen, the total amount of new spectrum would be 10-12 MHz. That’s considerably less than the 24-30 MHz advocated by boosters of new higher-speed WiFi technology based on the 802.11af standard.

 

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Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
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