eco

COVID’s Broader Impacts: Risks and Recommendations

While the world’s health and economy are the clearest victims of COVID-19, the pandemic has impacted nearly every aspect of society – from national security to international relationships. We asked several of our experts to share their thoughts on risks and/or recommendations that policymakers and the public should consider in the coming weeks and months.




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What Allies Want: Reconsidering Loyalty, Reliability, and Alliance Interdependence

Is indiscriminate loyalty what allies want? The First Taiwan Strait Crisis (1954–55) case suggests that allies do not desire U.S. loyalty in all situations. Instead, they want the United States to be a reliable ally, posing no risk of abandonment or entrapment.










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Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




eco

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




eco

COVID’s Broader Impacts: Risks and Recommendations

While the world’s health and economy are the clearest victims of COVID-19, the pandemic has impacted nearly every aspect of society – from national security to international relationships. We asked several of our experts to share their thoughts on risks and/or recommendations that policymakers and the public should consider in the coming weeks and months.




eco

Webber grateful for second-place finish

Mark Webber confessed himself happy with his second place at the Belgian Grand Prix after a clutch issue saw him drop back several places from his starting position of second




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Nine drivers hit with five-second penalties

The stewards have slapped five-second penalties onto the finishing times of nine Formula One drivers at the European Grand Prix for lapping too quickly under safety car conditions




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Hamilton eyeing victory from second row

Lewis Hamilton insists he is not out of the running at the Korean Grand Prix, despite qualifying fourth and admitting he was baffled by the Red Bulls' pace




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Second 'a great result' - Hamilton

Lewis Hamilton said it was still a great result to finish second behind Fernando Alonso and remain firmly in the title hunt




eco

What Allies Want: Reconsidering Loyalty, Reliability, and Alliance Interdependence

Is indiscriminate loyalty what allies want? The First Taiwan Strait Crisis (1954–55) case suggests that allies do not desire U.S. loyalty in all situations. Instead, they want the United States to be a reliable ally, posing no risk of abandonment or entrapment.




eco

What Allies Want: Reconsidering Loyalty, Reliability, and Alliance Interdependence

Is indiscriminate loyalty what allies want? The First Taiwan Strait Crisis (1954–55) case suggests that allies do not desire U.S. loyalty in all situations. Instead, they want the United States to be a reliable ally, posing no risk of abandonment or entrapment.




eco

Grosjean gets second Renault seat

Lotus Renault has announced that Romain Grosjean will drive alongside Kimi Raikkonen next season




eco

COVID’s Broader Impacts: Risks and Recommendations

While the world’s health and economy are the clearest victims of COVID-19, the pandemic has impacted nearly every aspect of society – from national security to international relationships. We asked several of our experts to share their thoughts on risks and/or recommendations that policymakers and the public should consider in the coming weeks and months.




eco

Africa in the news: COVID-19 impacts African economies and daily lives; clashes in the Sahel

African governments begin borrowing from IMF, World Bank to soften hit from COVID-19 This week, several countries and multilateral organizations announced additional measures to combat the economic fallout from COVID-19 in Africa. Among the actions taken by countries, Uganda’s central bank cut its benchmark interest rate by 1 percentage point to 8 percent and directed…

       




eco

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




eco

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




eco

How Second Earners Can Rescue the Middle Class from Stagnant Incomes


In his state of the union and his budget, the President spoke of the stagnation of middle class incomes. Whatever growth we have had has not been broadly shared.  More than 78% of the growth in GDP between 1979 and 2013 has gone to the top one percent. Even Republicans are beginning to worry about this issue although they have yet to develop concrete proposals to address it.

Slow Growth in Incomes

Middle class incomes were growing slowly before the recession and have actually declined over the past decade.   In addition, according to the New York Times, the proportion of the population with incomes between $35,000 and $100,000 in inflation-adjusted terms fell from 53% in 1967 to 43% in 2013.  During the first four decades this was primarily because more people were moving into higher income groups, but more recently it was because they have moved down the ladder, not up.  One can define the middle class in many different ways or torture the data in various ways, but there is plenty of evidence that we have a problem.

What to Do

The most promising approach is what I call “the second earner solution.”  For many decades now, the labor force participation rate of prime age men has been falling while that of women has been rising.  The entry of so many women into the labor force was the major force propelling whatever growth in middle class incomes occurred up until about 2000. That growth in women’s work has now levelled off.  Getting it back on an upward track would do more than any policy I can think of to help the middle class.

Imagine a household with one earner making the average wage of today’s worker and spending full-time in the job market.  That household will have an income of around $34,000. But if he (or she) has a spouse making a similar amount, the household’s income will double to $68,000. That is why the President’s focus on a second-earner credit of $500, a tripling of the child care tax credit, expanding the Earned Income Tax Credit, and providing paid leave are so important. These policies are all pro-work and research shows they would increase employment.

No Marriage = No Second Earner

One problem, of course, is that fewer and fewer households contain two potential workers.  So it would also help to bring back marriage or at least its first cousin, a stable cohabiting relationship.  My ideas on this front are spelled out in my new book, Generation Unbound. In a nutshell, we need to empower women to not have children before they have found a committed partner with whom to raise children in a stable, two-parent family. Whatever the other benefits of two parents, they have twice as much time and potentially twice as much income.    

Other Needed Responses

Shouldn’t we also worry about the wages or the employment of men?  Of course.  But an increase in, say, the minimum wage or a better collective bargaining environment or more job training will have far smaller effects than “the second earner solution.”  In addition, the decline in male employment is related to still more difficult problems such as high rates of incarceration and the failure of men to take advantage of postsecondary education as much as women have. 

Still the two-earner solution should not be pursued in isolation. In the short-term, a stronger recovery from the recession is needed and in the longer-term, more effective investments in education, research, infrastructure, and in labor market institutions that produce more widely-shared growth, as argued by the Commission on Inclusive Prosperity. But do we really expect families to wait for these long-term policies to pay off?  It could be decades. 

In the meantime, the President’s proposals to make work more appealing to existing or potential second earners deserves more attention.  

Publication: Real Clear Markets
Image Source: © Kevin Lamarque / Reuters
      
 
 




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8 recommendations for universities and professors during the coronavirus pandemic

Over 200 colleges and universities have closed in the United States due to the coronavirus pandemic. Some have canceled in-person classes for the rest of the spring 2020 semester, while others have canceled graduation. Universities are trying to make decisions in a fluid and unprecedented environment. Professors and instructors face their own challenges as they…

       




eco

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




eco

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




eco

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




eco

Greener Stimulus? Economic Recovery and Climate Policy

In this edition of Columbia Energy Exchange, host Jason Bordoff and Professor Joseph Aldy explore the role of climate-change and broader environmental policy in the U.S. federal government’s emergency economic stimulus funding package.




eco

What Economics Can Say about an Effective Response to the Coronavirus

In a recent podcast interview, Robert Stavins and Scott Barrett discussed lessons from historic pandemics, how economists can help with policymaking surrounding the coronavirus, and what the “post-pandemic economic equilibrium” might look like. Resources Magazine has published an abridged version of their conversation.




eco

Policy and Action on Plastic in the Arctic Ocean: October 2019 Workshop Summary & Recommendations

The Belfer Center’s Arctic Initiative and the Wilson Center’s Polar Institute co-hosted a workshop with the Icelandic Chairmanship of the Arctic Council at the Harvard Kennedy School of Government entitled, Policy and Action on Plastic in the Arctic Ocean. The event convened global thought leaders, diverse stakeholders, and subject matter experts to begin developing a framework for tackling Arctic marine plastic pollution as one of the focus areas for the Icelandic Chairmanship. 




eco

COVID’s Broader Impacts: Risks and Recommendations

While the world’s health and economy are the clearest victims of COVID-19, the pandemic has impacted nearly every aspect of society – from national security to international relationships. We asked several of our experts to share their thoughts on risks and/or recommendations that policymakers and the public should consider in the coming weeks and months.




eco

Alonso happy with second

Fernando Alonso said he was extremely happy with finishing second behind Mark Webber in front of his home fans at the Spanish Grand Prix




eco

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




eco

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




eco

What Allies Want: Reconsidering Loyalty, Reliability, and Alliance Interdependence

Is indiscriminate loyalty what allies want? The First Taiwan Strait Crisis (1954–55) case suggests that allies do not desire U.S. loyalty in all situations. Instead, they want the United States to be a reliable ally, posing no risk of abandonment or entrapment.




eco

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




eco

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




eco

What Allies Want: Reconsidering Loyalty, Reliability, and Alliance Interdependence

Is indiscriminate loyalty what allies want? The First Taiwan Strait Crisis (1954–55) case suggests that allies do not desire U.S. loyalty in all situations. Instead, they want the United States to be a reliable ally, posing no risk of abandonment or entrapment.




eco

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




eco

Greener Stimulus? Economic Recovery and Climate Policy

In this edition of Columbia Energy Exchange, host Jason Bordoff and Professor Joseph Aldy explore the role of climate-change and broader environmental policy in the U.S. federal government’s emergency economic stimulus funding package.




eco

What Economics Can Say about an Effective Response to the Coronavirus

In a recent podcast interview, Robert Stavins and Scott Barrett discussed lessons from historic pandemics, how economists can help with policymaking surrounding the coronavirus, and what the “post-pandemic economic equilibrium” might look like. Resources Magazine has published an abridged version of their conversation.




eco

Policy and Action on Plastic in the Arctic Ocean: October 2019 Workshop Summary & Recommendations

The Belfer Center’s Arctic Initiative and the Wilson Center’s Polar Institute co-hosted a workshop with the Icelandic Chairmanship of the Arctic Council at the Harvard Kennedy School of Government entitled, Policy and Action on Plastic in the Arctic Ocean. The event convened global thought leaders, diverse stakeholders, and subject matter experts to begin developing a framework for tackling Arctic marine plastic pollution as one of the focus areas for the Icelandic Chairmanship. 




eco

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




eco

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




eco

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




eco

Greener Stimulus? Economic Recovery and Climate Policy

In this edition of Columbia Energy Exchange, host Jason Bordoff and Professor Joseph Aldy explore the role of climate-change and broader environmental policy in the U.S. federal government’s emergency economic stimulus funding package.




eco

What Economics Can Say about an Effective Response to the Coronavirus

In a recent podcast interview, Robert Stavins and Scott Barrett discussed lessons from historic pandemics, how economists can help with policymaking surrounding the coronavirus, and what the “post-pandemic economic equilibrium” might look like. Resources Magazine has published an abridged version of their conversation.




eco

Policy and Action on Plastic in the Arctic Ocean: October 2019 Workshop Summary & Recommendations

The Belfer Center’s Arctic Initiative and the Wilson Center’s Polar Institute co-hosted a workshop with the Icelandic Chairmanship of the Arctic Council at the Harvard Kennedy School of Government entitled, Policy and Action on Plastic in the Arctic Ocean. The event convened global thought leaders, diverse stakeholders, and subject matter experts to begin developing a framework for tackling Arctic marine plastic pollution as one of the focus areas for the Icelandic Chairmanship. 




eco

The constraints that bind (or don’t): Integrating gender into economic constraints analyses

Introduction Around the world, the lives of women and girls have improved dramatically over the past 50 years. Life expectancy has increased, fertility rates have fallen, two-thirds of countries have reached gender parity in primary education, and women now make up over half of all university graduates (UNESCO 2019). Yet despite this progress, some elements…

       




eco

Recognizing women’s important role in Jordan’s COVID-19 response

Jordan’s quick response to the COVID-19 outbreak has made many Jordanians, including myself, feel safe and proud. The prime minister and his cabinet’s response has been commended globally, as the epicenter in the country has been identified and contained. But at the same time, such accolades have been focused on the males, erasing the important…