There are two main schools of thought on income inequality: The fatalists, who contend that rising inequality is the ineluctable result of a changing economy, and the redistributionists, who blame a skewed tax system and lethargic government. Perhaps it’s time to consider a third.
Cynthia and Gerald Matthews left a booming property market in Ottawa, the Canadian capital, to buy a home in Bloomington, Indiana, where real estate prices are beginning to recover from a five-year slump.
Lawrence Summers’s personal website includes two biographies and traces his career from Harvard University president to director of President Barack Obama’s National Economic Council. The site says he’s now teaching at Harvard and serving on corporate and nonprofit boards.
Senator Orrin Hatch is pushing an overhaul of public pensions that would let life insurers grab a bigger share of the $3 trillion in state and local funds, a potential windfall for companies such as MetLife Inc. and Prudential Financial Inc.
Dean Maki , chief U.S. economist at Barclays Capital, says the worst is over for the U.S. housing sector. Dean Baker , co-director of the Center for Economic and Policy Research, expects another painful decline.