Robert Pollin, economics and co-director of the Political Economy Research Institute, does another in a series of interviews about steps that need to be taken to develop a green economy. Pollin says in recent years the politics affecting dealing with climate changes has become more polarized and regressive. The Real News Network (1/13/15)
A columnist writing about the effort to boost wages for fast-food workers to $15 per hour cites research done by Arindrajit Dube, economics, that says an increase of that magnitude would lead to prices rising by about 20 percent. Industry spokesmen say boosting pay to that level would increase prices by between 25 percent and 50 percent. The columnist argues that keeping the price of fast food low should not be a higher priority than paying workers a liveable wage. (Democrat and Chronicle [Rochester, N.Y.], 12/6/14)
Research on the stability of large financial institutions done by Gerald Epstein, economics and co-director of the Political Economy Research Institute, and colleagues, finds that the interconnectedness of large banks continues to be a potential threat to the global economy. He also says sections of the Dodd-Frank federal law designed to lessen these threats aren’t strong enough to do the job. (Crain’s New York Business, 12/1/14)
- Robert Pollin, economics and co-director of the Political Economy Research Institute, comments in a story about the split among economists between faculty members with more mainstream, analytic views, and those with more heterodox or pluralistic views of the profession. Pollin says he is quite open about his “commitment to egalitarianism as a general pre-analytical social commitment.” He also says students who want a good grounding in mainstream economics and want to develop technical skills will find the UMass Amherst economics department a good fit. (Federal Reserve Bank of Richmond, second quarter 2014)
Leonce Ndikumana, economics and director of the Political Economy Research Institute’s African Policy Program, was interviewed about the economic impact the Ebola outbreak is having on West Africa. (Voice of America Central Africa Service, 11/19/14; link not available, interview not in English)
Gerald A. Epstein, economics and co-director of the Political Economy Research Institute, discusses how rules developed under the Dodd-Frank Wall Street reform law don’t address some of the key reforms sought by those who want to rein in banks and large financial firms. He says the new rules allow already huge banks to stay huge, but may be helpful in pointing out that this is one of the key problems for the industry and the economy. (The Real News Network, 11/10/14)
Jeannette Wicks-Lim, Political Economy Research Institute, expresses support for a proposed living wage ordinance in Sonoma County, Calif., that would cover in-home supportive service (IHSS) care workers. Higher pay for IHSS workers could “improve IHSS services and enable more low income frail elderly and disabled adults to remain living at home.” Said Wicks-Lim in a letter of support, “This would reduce government spending on nursing care facilities and give the state a financial incentive to re-negotiate its IHSS cost sharing arrangement.”
Arindrajit Dube, economics, comments in two stories about ballot questions that seek to raise the minimum wage in Alaska, Arkansas, Nebraska and South Dakota. Dube has suggested that a way to localize minimum wages is to set them at 50 percent of the median wage for a full-time hourly worker. He also says raising the minimum wage by a moderate amount doesn’t cause job losses. (Slate.com, The Dish, 11/4/14)
Gerald A. Epstein, economics and co-director of the Political Economy Research Institute, comments in a news story about what could be expected from Janet Yellen, the chair of the Federal Reserve Bank. He says the key sign from Yellen recently was her signaling concern for workers, wages and inequality. That suggests she will focus on unemployment numbers when making key policy decisions, the story says.
Whatever happens election day, it’s Yellen’s economy _ Marketplace