Daily Digest - July 24: All the Performance Pay, None of the Performance

Jul 24, 2014Rachel Goldfarb

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The Pay-for-Performance Myth (Bloomberg Businessweek)

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The Pay-for-Performance Myth (Bloomberg Businessweek)

Eric Chemi and Ariana Giorgi report on a new analysis of data on the relationship between company performance and CEO pay, which shows no relationship between the two factors.

  • Roosevelt Take: In his white paper, William Lazonick explains how stock-based performance pay incentivizes CEOs toward business practices that manipulate stock prices.

Elizabeth Warren to Help Propose Senate Bill to Tackle Part-Time Schedules (The Guardian)

Jana Kasperkevic writes that the Schedules That Work Act would establish a right to request a predictable schedule, payment for cancelled shifts, and two weeks' notice of schedule changes.

Technology, Aided by Recession, Is Polarizing the Work World (NYT)

Claire Cain Miller says a new study explains how the recession has accelerated the loss of "routine" jobs, which follow well-defined procedures and used to go primarily to men and people with less education.

Even After Open Enrollment, Activity Remains Unexpectedly High on Federal Health Insurance Exchange (ProPublica)

There have been nearly 1 million transactions on the federal exchange since the April 19 enrollment deadline, writes Charles Ornstein, as people continue to sign up for and switch insurance plans.

Paul Ryan's Anti-Poverty Plan Should Support Minimum-Wage Hike, But Don't Count on It (The Hill)

Raising the minimum wage is one of the best ways to fight poverty today, writes Shawn Fremstad, but Paul Ryan ignores research that shows higher wages wouldn't impact employment.

Highway to Hell (The Economist)

The Economist says Congress's solution to funding the Highway Trust Fund through budget tricks around pensions creates risk of greater costs on taxpayers if those underfunded pensions go bust.

New on Next New Deal

The Future Economy Will Pit Man vs. Machine

Andy Stern, president emeritus of the SEIU, presents a speculation on the future for the Next American Economy project in which technology replaces the vast majority of jobs.

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Daily Digest - July 23: It's Been a Good Year for Financial Reform

Jul 23, 2014Rachel Goldfarb

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Ignore the Naysayers: Dodd-Frank Reforms Are Finally Paying Off (TNR)

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Ignore the Naysayers: Dodd-Frank Reforms Are Finally Paying Off (TNR)

The past year has seen important successes, like higher capital requirements, writes Roosevelt Institute Fellow Mike Konczal, and the next steps for financial reform are getting clearer.

We’re Arresting Poor Mothers for Our Own Failures (The Nation)

Bryce Covert points to the policy failures of welfare reform, which requires parents to work or look for work to receive benefits but hasn't provided for child care, leading to recent high-profile arrests.

Obama to Sign Bill Improving Worker Training (Time)

In the first significant legislative reform to job training in a decade, Maya Rhodan says the Obama administration and Congress put training programs on a more forward-looking path.

SEC Is Set to Approve Money-Fund Rules (WSJ)

The new rules target institutional investors over individuals, says Andrew Ackerman, aiming to train investors to accept fluctuations and prevent panicked mass sell-offs.

TaskRabbit Redux (New Yorker)

Adrienne Raphel writes that TaskRabbit's recent relaunch makes it more clear that for all their marketing, online tools for hiring labor or transportation are about commerce, not community.

New on Next New Deal

Dr. Strangelove and the Halbig Decision

Roosevelt Institute Fellow Mike Konczal points out the fallacy in right-wing claims that there is a "doomsday machine" in the Affordable Care Act: doomsday machines only work if you tell people about them.

Full-Time Employment May Give Way to a Free Agent Economy

In his speculation on the future for the Next American Economy project, Carl Camden, CEO of Kelly Services, suggests that temporary employment firms like his will become the purveyors of social services.

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Daily Digest - July 22: Why Net Neutrality is All or Nothing

Jul 22, 2014Rachel Goldfarb

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All Aboard for Net Neutrality (In These Times)

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All Aboard for Net Neutrality (In These Times)

Cole Stangler quotes Roosevelt Institute Fellow Susan Crawford as he makes the case that the FCC should stop dancing around net neutrality and embrace common carrier regulation of the Internet.

Are Auto Insurance Companies Red-Lining Poor, Urban Drivers? (The Guardian)

Auto insurance rates are frequently determined by zip code, and risk factors like crime don't fully explain the price differences. Devin Fergus says redlining, or charging higher prices to minorities, may be to blame.

Obama Signs Historic LGBT Non-Discrimination Order (Slate)

Mark Joseph Stern calls the order, which prohibits federal contractors from discriminating based on sexual orientation or gender identity, Obama's biggest gay rights achievement since ending "Don't Ask, Don't Tell."

Businesses Need to Spend More. The Future of the Economy Depends on It. (NYT)

Increased capital spending by businesses would create jobs, and would also generate the productivity gains that make the economy more competitive over the long term, writes Neil Irwin.

Fed Researchers Optimistic on Long-Term Unemployment Drop (Bloomberg News)

Jeff Kearns reports on the Federal Reserve's reasons for optimism, which include signs that the long-term unemployed are still connected to the labor force and don't have significantly more trouble finding jobs.

New on Next New Deal

Lifelong Roosevelt Connections Help Students Lead Policy Change

Meeting alumni in her role as the Roosevelt Institute | Campus Network Special Initiatives Intern has shown Madelyn Schorr that students' ideas benefit from alumni input and assistance.

The Etsy Economy Prevails

In her speculation on the future for the Next American Economy project, Althea Erickson, Public Policy Director at Etsy, imagines a gig-based economy in which market platforms provide benefits like health care.

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Daily Digest - July 21: What Young Women Voters Want

Jul 21, 2014Rachel Goldfarb

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Not Your Father's Electorate (Richard Heffner's Open Mind)

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Not Your Father's Electorate (Richard Heffner's Open Mind)

Roosevelt Institute Vice President of Networks Taylor Jo Isenberg discusses the issues that young female voters are focused on today, zeroing in on economic concerns like paid leave.

The FCC Wants to Let Cities Build Their Own Broadband. House Republicans Disagree. (Vox)

Timothy B. Lee draws on Roosevelt Institute Fellow Susan Crawford's work to explain why municipalities should be allowed to build publicly-owned high-speed Internet networks.

The Bad Boss Tax (In These Times)

Sarah Jaffe looks at the "bad business fee" plan developing in Minnesota, which would fine employers for the de facto subsidies they receive when their workers are on public assistance.

Republicans Want to Control, Not End, the Fed (WaPo)

A GOP proposal would force the Federal Reserve to choose a mathematical rule for setting interest rates, but Matt O'Brien says that would be a hugely ineffective way to create policy.

Rep. Keith Ellison Wants to Make Union Organizing a Civil Right (MSNBC)

Ned Resnikoff reports on the Congressman's planned bill, which would allow workers to individually sue their employers for anti-union retaliation.

Part-Time Schedules, Full-Time Headaches (NYT)

Continuing his look at the problems that on-call schedules create for part-time workers, Steven Greenhouse emphasizes the near-impossibility of getting ahead without regular schedules.

The Last Hope for Extending Long-Term Unemployment Insurance May Have Just Gone Poof (MoJo)

Patrick Caldwell writes that with the GOP using a bit of budget trickery called pension smoothing to pay for highways, Democrats have to find a new option for funding long-term unemployment insurance.

New on Next New Deal

What Will the American Economy Look Like 26 Years From Today?

Roosevelt Institute Senior Fellow Bo Cutter introduces a series of speculations on the future of the American economy, with a focus on changes in technology, cities, and labor.

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Daily Digest - July 18: BRICS Bank Shifts Balance of Power in the Global Economy

Jul 18, 2014Rachel Goldfarb

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Nobel Economist Joseph Stiglitz Hails New BRICS Bank Challenging U.S.-Dominated World Bank & IMF (Democracy Now)

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Nobel Economist Joseph Stiglitz Hails New BRICS Bank Challenging U.S.-Dominated World Bank & IMF (Democracy Now)

Roosevelt Institute Chief Economist Joseph Stiglitz says this bank will support the developing world's needs, and reflects fundamental shifts in global economic power.

Port Trucking Industry Rips Off Drivers, Responsible Employers, and Taxpayers (The Hill)

Roosevelt Institute Senior Fellow Richard Kirsch looks at the port truck drivers' strike in California as evidence of the need for stronger policy on independent contractors.

Help a City, Write Its Budget (Bloomberg View)

Roosevelt Institute Fellow Susan Crawford endorses participatory budgeting as one of the best ways to build strong civic engagement, and says technology can help.

The Economy’s Big Mystery: Why Workers are Disappearing From the Job Market (WaPo)

Zachary Goldfarb looks at two theories from the White House Council of Economic Advisors that attempt to explain the drop in labor force participation since the recession began.

Stop the Tax Inversions of Free-Riding Corporations (AJAM)

By failing to pass laws that prevent companies from reincorporating aboard to avoid taxes, David Cay Johnston says Congress is supporting their shirking of responsibility.

What Happens When Detroit Shuts Off the Water of 100,000 People (The Atlantic)

Rose Hackman writes that Detroit residents have been forced to pay bills beyond their means or turn to illegal means to access water. The UN has declared this a human rights violation.

States with Better 'Business Climates' Also Have Higher Inequality (CityLab)

A new study finds an unfortunate connection between policies that encourage business and economic growth and rising inequality, writes Richard Florida.

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Daily Digest - July 17: Are We Building a Sustainable Future?

Jul 17, 2014Rachel Goldfarb

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Why This One UN Report on Sustainable Development is Different from the Rest (UN Dispatch)

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Why This One UN Report on Sustainable Development is Different from the Rest (UN Dispatch)

Campus Network Senior Fellow for Defense and Diplomacy Nehemiah Rolle says the Global Sustainable Development Report incorporates a broad array of both science and policy data.

Will a Fox, Time Warner Deal Be Approved? (Bloomberg TV)

Roosevelt Institute Fellow Susan Crawford says the Federal Communications Commission has an interest in regulating these big mergers to protect the future of U.S. communications.

Imagining Economic Policy Focused on Women (Real News Network)

Roosevelt Institute Senior Fellow Rob Johnson points to minimum wage, work sharing, and paid family leave as key policies for improving women's opportunities and thus the economy as a whole.

Punish the Executives, Not Just the Banks (New Yorker)

The short-term incentives for individuals on Wall Street continue to encourage risky and destructive business practices, writes James Surowiecki, which is why bank settlements aren't effecting change.

America’s Unrequited Corporate Love Affair (MSNBC)

Timothy Noah says the trend toward reincorporating abroad to avoid U.S. taxes is only part of a larger negative shift in the relationship between American corporations and the state.

Hobby Lobby's Harvest: A Religious Exemption for LGBT Discrimination? (LA Times)

Michael Hiltzik looks to Dr. Martin Luther King, Jr. to explain why President Obama should not allow a religious exemption in his executive order barring discrimination against LBGT workers.

New on Next New Deal

Fighting Bad Science in the Senate

Roosevelt Institute Fellow Andrea Flynn says that even when they won't pass, strongly pro-choice bills like the Women's Health Protection Act are a means of fighting anti-choice falsehoods.

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Daily Digest - July 16: Flawed Models for Understanding the Wage Fight

Jul 16, 2014Rachel Goldfarb

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A Biased Report on the Minimum Wage? (East Bay Express)

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A Biased Report on the Minimum Wage? (East Bay Express)

Darwin BondGraham speaks to Roosevelt Institute Fellow Annette Bernhardt, who says a study criticizing plans for a $12.25 minimum wage in Oakland used bad methodology.

Obama Administration Urges Immediate Action on 'Inversions' (WSJ)

The administration has asked Congress to put an end to these reincorporations abroad for tax purposes, and called instead for "economic patriotism," reports John D. McKinnon.

House Votes to Pay for Roads With Underfunded Pensions (The Wire)

Arit John explains the latest short-term plan for funding the Highway Trust Fund, which he says involves spending future tax revenue now and will lead to more shortfalls in the long run.

Hobby Lobby: A New Tool for Crushing Workplace Unionization? (MSNBC)

Ned Resnikoff explains how the Hobby Lobby decision could play out if an employer claims religious opposition to collective bargaining, as is already permitted for religious schools.

A Push to Give Steadier Shifts to Part-Timers (NYT)

Steven Greenhouse looks at the momentum behind laws that aid part-time workers by requiring further advance notice, extra pay for on-call work, and preference for more hours.

New on Next New Deal

Search Models, Mass Unemployment, and the Minimum Wage

Roosevelt Institute Fellow Mike Konczal looks at what's wrong with the models some economists are using to understand high unemployment and prolonged job vacancies.

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Daily Digest - July 15: Privatization Gets Marked 'Return to Sender'

Jul 15, 2014Rachel Goldfarb

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Staples, Postal Service to End Plan for Mini Post Offices in Stores (WSJ)

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Staples, Postal Service to End Plan for Mini Post Offices in Stores (WSJ)

Kris Maher, Drew Fitzgerald, and Tom Gara report on the decision to end this pilot program, which the postal workers' union and other labor groups had denounced as privatization.

  • Roosevelt Take: Roosevelt Institute Senior Fellow Richard Kirsch explains how the Postal Service and Staples plan was exacerbating the low-wage economy.

Another Week, Another Settlement (The Economist)

The Economist examines the controversy over Citigroup's $7 billion settlement announced yesterday, which continues the trend of placing blame on companies instead of individuals.

Equal Opportunity Employment Officials Take New Aim at Pregnancy Bias (NYT)

Due to an increase in pregnancy discrimination complaints, the Equal Employment Opportunity Commission has issued new enforcement guidelines, reports Steven Greenhouse.

Restaurant CEOs Make More Money in Half a Day Than Their Employees Make in a Year (MoJo)

Jaeah Lee reports on a new analysis of top restaurant CEO pay, which shows that the CEOs take home an average of 721 times the amount that minimum wage workers are paid.

When You're Poor, Money Is Expensive (The Atlantic)

Derek Thompson explains why accessing money becomes more difficult without bank accounts and credit, and says the financial tech sector could make things easier for the poor.

Labor Organizing Is a Civil Right (Blog of the Century)

The National Labor Relations Act provides only negligible penalties for firing labor organizers, so Imhotep Royster suggests extending Civil Rights Act protections to those organizers.

New on Next New Deal

In Defense of Public Service: Roosevelt Honors Commitment to Common Good

Roosevelt Institute Communications Manager Tim Price reflects on the vindication felt by the life-long public servants honored at last week's Distinguished Public Service Awards.

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Daily Digest - July 14: Local Actions Hold the Line for Labor

Jul 14, 2014Rachel Goldfarb

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Why Volkswagen Agreed to UAW Local at Its U.S. Plant (USA Today)

G. Chambers Williams III explains the decision to create a local union at the Chattanooga VW plant despite the United Auto Workers' narrow loss in a February worker vote.

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Why Volkswagen Agreed to UAW Local at Its U.S. Plant (USA Today)

G. Chambers Williams III explains the decision to create a local union at the Chattanooga VW plant despite the United Auto Workers' narrow loss in a February worker vote.

U.S. Deficit Continues to Shrink (MSNBC)

The budget deficit has reached its lowest point since 2008, reports Suzy Khimm, thanks to a recovery that has increased tax revenues and reduced demand on safety net programs.

Tracy Morgan Sues Walmart Over Deadly Crash in New Jersey (NYT)

Emma G. Fitzsimmons reports that Morgan and others injured in an accident involving an overtired Walmart truck driver are blaming the accident on the company's poor labor practices.

Here's Definitive Proof That Republicans Don't Care About the Long-Term Unemployed (TNR)

Danny Vinik asks why budget gimmicks were unacceptable for funding the Senate Democrats' extension of unemployment insurance but are fine when the House GOP uses them.

New Study: Lobbying Doesn't Help Company Profits—But It's Great For Executive Pay (MoJo)

Corporate lobbying expenditures, which measure in billions of dollars, do far more to enhance a CEO's earnings than to benefit companies as a whole, reports Alex Park.

State and Local Pensions: A Progress Report (Market Watch)

Alicia H. Munnell looks at recent shifts in local and state pensions, including both the good (increased contributions) and the worrisome (plans still hold too much of their portfolios in equities).

New on Next New Deal

Port Drivers Take on Low Wages in an Industry Built on a Lie

All Americans should support the Los Angeles port truck drivers' strike, writes Roosevelt Institute Senior Fellow Richard Kirsch, because all consumers depend on their hard work.

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Daily Digest - July 11: Public Internet Infrastructure Provides a Link to the Future

Jul 11, 2014Rachel Goldfarb

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Government Should Invest in Fiber Optics (NYT)

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Government Should Invest in Fiber Optics (NYT)

Roosevelt Institute Fellow Susan Crawford writes that U.S. cities can increase competition and expand affordable high-speed Internet access to all residents by building municipal fiber networks.

Gap Between Minimum Wage and Tipped Wage Hits Record High (MSNBC)

Tipped workers make a much lower median wage, reports Ned Resnikoff, and tipped workers face a poverty rate twice that of other workers.

Fannie-Freddie Propose Liquidity Rules for Mortgage Insurers (Bloomberg)

Zachary Tracer and Clea Benson explain newly proposed capital requirements for mortgage insurers, which would demand that they hold a greater amount of liquid assets against their risk exposure.

The Verdict is in: Obamacare Lowers Uninsured (Politico)

The trend is unmistakable, writes David Nather: millions have newly obtained insurance thanks to the Affordable Care Act. Even those who oppose the law can't find anything bad to say about that.

Right-Wing “Populism” is a Joke: Poor-Bashing, Immigrant-Hating and a Revolting Agenda (Salon)

Heather Digby Parton explains how right-wing populism, which places blame for economic problems on "economic parasites," pushes policies that don't help the right's supposed base.

Losing Sparta: The Bitter Truth Behind the Gospel of Productivity (VQR)

Esther Kaplan looks at the closure of one highly productive, award-winning lighting fixture plant in Sparta, Tennessee to explain why productivity isn't enough to improve the economy.

A $13 Minimum Wage Isn’t Enough (In These Times)

Carlos Ballesteros says that organizers in Chicago want a union no matter the minimum wage increase they obtain, because they will still need consistent hours and scheduling.

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