A news story about how Democratic presidential candidates are proposing to deal with student debt includes mention that Robert N. Pollin, Distinguished Professor in economics and co-director of the Political Economy Research Institute, estimates that a tax on financial transactions to pay for tuition-free public higher education would raise $300 billion per year. (WBUR, 4/25/19)
Gerald C. Friedman, economics, has estimated that the Medicare for All health insurance program being promoted by U.S. Sen. Bernie Sanders would reduce national health care spending by $6.3 trillion over 10 years and new government spending would amount to $13.8 trillion over 10 years. Friedman’s calculations are included in a national news story looking at how the Sanders’ proposal would change health care for Americans. (NBC 10 [Boston], 4/24/19)
A story about national minimum wage proposals references research by Arindrajit Dube, economics, and colleagues that found raising the minimum wage is not a disincentive in hiring. (NPR, 4/23/19)
Something unusual has just happened. The current Economic Report of the President (March 2019; henceforth Economic Report) has devoted one full chapter to attacking socialism, under the title “Markets versus Socialism.”The only intellectually honest part of the Economic Report is the reason given for allocating no less than 45 pages to socialism writes E. Ahmet Tonak, economics.
A letter-to-the-editor in USA Today says despite arguments to the contrary made by advocates such as Gerald C. Friedman, economics, most American don’t support the idea of Medicare for All. The writer says the program is too expensive and would cause large tax increases. (USA Today, 4/21/19)
The lead opinion piece in The Hindu (Indian Newspaper), “The Governance Dashboard: The BJP Regime and its Promises,” makes visible the failures of BJP regime, writes Vamsi Vakulabharanam, economics and Sripad Motiram (UMass, Boston). This article draws from the recent book ” A Quantum Leap in the Wrong Direction?” edited by Rohit Azad, Shouvik Chakraborty (UMass PERI), Srinivasan Ramani and Dipa Sinha.
A new study published by researchers at UMass Amherst, Leiden University, Netherlands and Rutgers University has found that nations offering more rights to lesbian, gay and bisexual people enjoy significantly higher per capita GDP than those who trail in LGB equality, and that nations fostering exclusion of LGB people are causing harms to their economies. The study, “The Relationship between LGBT Inclusion and Economic Development: Macro-Level Evidence,” appears online in the journal World Development. “All over the world LGBT people face discrimination in the labor market, harassment and bullying in education and stresses that harm their health. This treatment diminishes their ability to contribute to the economy, and the economy suffers when countries fail to recognize their rights,” says lead author M.V. Lee Badgett, professor of economics and public policy at UMass Amherst and distinguished scholar at the UCLA Williams Institute on Sexual Orientation Law and Public Policy. (Phys.org, 4/10/19; News Office release)
Medicare-for-all is the only plan that will control health care costs and provide universal coverage, writes Gerald Friedman, economics. Friedman says that other plans, like “Medicare for America” and “Medicare Extra for All,” are not reasonable because they keep the inefficient private insurance and multipayer systems. (USA Today, 4/8/19)
People often look at the gender pay gap in simplistic terms, says Nancy Folbre, professor emerita of economics. She says they apply incomplete explanations, like placing blame all on employers for discriminating against women, or assuming that all women have different priorities than men. (CNBC, 4/2/19)
Nancy Folbre, Professor Emerita of Economics, was among eight economists interviewed by CNBC for U.S. Equal Pay Day (Women had to work through April 2, 2019, an additional three months, to equal men’s 2018 average annual earnings.) Other economists interviewed included Claudia Goldin (Harvard University), Heidi Hartmann (President of the Institute for Women’s Policy Research), and Gary Burtless (Senior Fellow, The Brookings Institution).
“8 economists on what people don’t understand about the gender pay gap—and if it can actually be closed”