The workforce in the United States is becoming ever older. Because the number of older workers is growing, and because work is increasingly important to older adults, it is worth examining how older workers are faring in the Great Recession.
CPI Research
Has the Great Recession altered American views about business, finance, government, opportunity, inequality, and fairness? Has it changed the public's preferences regarding the appropriate role of government in regulating the economy and helping the less fortunate?
Severe economic downturns, like the Great Depression, are associated with substantial increases in poverty and material hardship.
As the economic downturn wears on, the debate about U.S. spending on the safety net has become increasingly rancorous. Indeed, former presidential candidate Newt Gingrich famously referred to Barack Obama as "the food stamp president" in the early-2012 campaign trail.
The Great Recession and the slow recovery since have been the longest economic slump in seventy years. It affected vulnerable populations more than others.
Americans have long been, and continue to be, a famously charitable people. Whereas Europeans have well-developed and comprehensive welfare states, the United States has always relied more on private charity to support a multitude of causes, including aid and assistance to the poor.
The particular trauma of severe downturns is that declining consumer spending, itself a reaction to the economy's contraction, also undermines the prospects for recovery. Consumption is, in other words, a fundamental determinant of business cycles - a kind of litmus test of economic health.
Recent inequality scholarship fixates on trends in the amount of inequality and largely ignores trends in the form of inequality.
Over the past four decades, the Latino population of the United States was transformed from a small, ethnically segmented population of Mexicans in the southwest, Puerto Ricans in New York, and Cubans in Miami into a large national population dominated by Mexicans, Central Americans, and South Am
If we’re serious about reducing inequality, we need to do more than raise taxes on the rich. We need to correct the market failures in labor and education that generate it.
