Before COVID-19, the gap between the bottom and top rungs of the economic ladder grew over many years. Between 1979 and 2015, the top 1% saw its income grow 229% in the U.S., according to the Economic Policy Institute. Income for the bottom 90% increased 46%. Federal tax cuts in 2017 disproportionately benefited the wealthy.
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Those people are in trouble if benefits end before they have work, and not even a robust rebound will immediately provide all the jobs needed, said Elise Gould, senior economist at the left-leaning Economic Policy Institute.
“Once evictions are allowed again, a lot of people who couldn’t pay the rent are in trouble,” she said. “Recovery is not going to happen in one fell swoop. I can’t imagine that inequality won’t be higher.”
Atlanta Journal Constitution
April 16, 2021
For example, investments in the power grid are “needed to protect from catastrophic weather events, but also to allow us to move to renewable sources,” says Robert E. Scott, a senior economist and director of trade and manufacturing policy research at nonprofit think tank Economic Policy Institute (EPI). Or better broadband internet access could make less commuting (and less carbon emissions) possible, he says.
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And that tracks for green jobs, too. Manufacturing jobs, including those in clean energy, will “generate large numbers of excellent jobs for non-college-educated workers,” says Scott. “Those are the people who’ve been left behind for the last 20 years.”
CNBC
April 16, 2021
Conversely, the decline of unions has played a big role in rising inequality and wage stagnation. And workers have lost bargaining power as weak antitrust policies have allowed corporations to gain ever more market power.
New York Times
April 16, 2021
The Economic Policy Institute noted the key role that Amazon workers played in the pandemic, said they deserved “a fair election,” and called for the PRO Act to become law.
Reuters
April 16, 2021
The Bessemer results “reveal a broken union election system,” Celine McNicholas, labor counsel at the left-leaning Economic Policy Institute, said in a statement. “It is clear that if policymakers do not reform our nation’s labor law system, then they are effectively denying workers a meaningful right to a union and collective bargaining.’’
AP News
April 16, 2021
Under the Trump administration, the NLRB “systematically rolled back workers’ rights,” according to an analysis by the left-leaning Economic Policy Institute. President Joe Biden has already signaled he intends to be much more pro-worker than his predecessor, releasing a video in support of unionization efforts and against corporate “anti-union propaganda” – as Amazon employees were voting.
Markets Insider
April 16, 2021
The decline in collective bargaining has translated to a loss of $1.56 per hour worked for the median worker, the equivalent of $3,250 for a full-time, full-year worker, according to he Economic Policy Institute, a left-leaning think tank. “It has also contributed to the widening wage inequality gap, as unions disproportionately benefit low-wage earners,” EPI said.
Market Watch
April 16, 2021
At this distance, Goleman’s denunciation of irrational and “mean-spirited impulses” looks like a refusal to acknowledge concrete societal factors that were right before his eyes. “All pain, no gain for most workers,” authors at the Economic Policy Institute announced in a 1996 report, concluding, in language that was unusually agitated for Washington economists, that, since the seventies, an erosion of wages, a loss of high-paying manufacturing jobs, and greater job insecurity had had a catastrophic effect on the middle class. The pain had intensified with the winnowing away of social services, and even progressive politicians were more concerned with demonstrating their bona fides as business-friendly than with affirming their concern for the working class, Blacks, immigrants, or women. “Mean-spirited” seems too gentle a word for the era’s distinctive retreat from progressive struggles. Who could forget Rodney King’s beating at the hands of police, the disbelief of the politicians who interrogated Anita Hill, or the empty chairs of the women whom Congress had refused to call as witnesses in support of her testimony?
The New Yorker
April 16, 2021
Richard Rothstein, a Distinguished Fellow of the Economic Policy Institute and a senior fellow, emeritus, of the NAACP Legal Defense and Educational Fund (LDF), gave this opening statement before the U.S. Senate Committee on Banking, Housing, and Urban Affairs’ hearing on the “Legacy of Racial Discrimination in Housing,” on behalf of himself and Sherrilyn Ifill, president and director-counsel of the LDF. Here is a link to the full testimony.
MarketWatch
April 16, 2021