Daily Digest - October 30: The Economic Impact of Cities' Sister Act

Oct 30, 2014Rachel Goldfarb

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Sister City Relationships Boost Business in Chicago, Phoenix and S.F. (Next City)

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Sister City Relationships Boost Business in Chicago, Phoenix and S.F. (Next City)

Roosevelt Institute | Campus Network Senior Fellow for Defense and Diplomacy Nehemiah Rolle examines how these relationships allow cities to be power players in the global economy.

Why Millennials Can Fix Healthcare (Huffington Post)

Campus Network Senior Fellow for Health Care Emily Cerciello argues that Millennials' focus on how businesses can improve society could dramatically change the health industry.

Why Dems Are Winning on Minimum Wage (Politico)

Timothy Noah points at numerous races in which raising the minimum wage is proving the perfect wedge issue, and could help to boost Democratic turnout at the polls.

What Happens When People—Rather Than Politicians—Are Given the Chance to Vote for a Higher Minimum Wage? (The Nation)

Michelle Chen says economic justice advocates see these ballot initiatives as a far more straightforward way to improve people's lives than dealing with politicians.

Watchdog Slams Mortgage, Student Loan Servicers (The Hill)

The Consumer Financial Protection Bureau says it has found a broad array of illegal practices, reports Benjamin Goad, but it won't be announcing which servicers are breaking the law.

New on Next New Deal

Election 2014: Women's Rights in the Balance

Roosevelt Institute Fellow Andrea Flynn introduces her series examining the ways that close-call races across the country could impact health care, economic issues, and more. The state-by-state analyses, published throughout today and tomorrow, can be found here.

We Need Pretrial Detention Reform in Massachusetts

Roosevelt Institute | Campus Network Senior Fellow for Equal Justice Jessica Morris says alternatives to bail would create a more just legal system in her state.

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Daily Digest - October 29: We Need Better Internet Access to Reduce Inequality

Oct 29, 2014Rachel Goldfarb

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Digital Divide Exacerbates U.S. Inequality (Financial Times)

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Digital Divide Exacerbates U.S. Inequality (Financial Times)

David Crow quotes Roosevelt Institute Fellow Susan Crawford on how the digital divide contributes to inequality in light of new data on broadband access throughout the country.

High-income Households Pay a Large Share of US Taxes—But This Doesn’t Make Our Tax System Progressive (Working Economics)

Joshua Smith draws on a recent blog post by Roosevelt Institute Fellow Mike Konczal to consider what we call a progressive tax system, and whether it lives up to its billing.

Lobbyists, Bearing Gifts, Pursue Attorneys General (NYT)

Eric Lipton investigates corporations' extensive lobbying of attorneys general throughout the country. In many cases, the lobbyists represent corporations under investigation.

Fed Set to End QE3, But Not the QE Concept (WSJ)

Pedro da Costa says that the Federal Reserve is almost certain to end the current bond-buying program, but this last resort option will remain in the policy tool kit.

Students Pressure Harvard Over Safety at a University-Owned Hotel (Bloomberg Businessweek)

Student protests at Harvard support workers' attempts to unionize, reports Natalie Kitroeff. The hotel reported 75 percent more on-the-job injuries than the statewide average last year.

New on Next New Deal

It's Essential the Federal Reserve Discusses Inequality

Roosevelt Institute Fellow Mike Konczal responds to right-wing critics who say Janet Yellen shouldn't talk about inequality, offering five reasons why it's actually integral to the monetary policy debate.

California Community Colleges Building the Workforce of Tomorrow

Rachel Kanakaole, head of the San Bernadino Valley Community College chapter of the Campus Network, examines a new program offering career-focused bachelor's degrees at campuses like hers.

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Daily Digest - October 28: The Fed's Top Priority Should Be Wages, Not Inflation

Oct 28, 2014Rachel Goldfarb

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Fed Can Influence Banks to Spread Opportunity (NYT)

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Fed Can Influence Banks to Spread Opportunity (NYT)

Roosevelt Institute Chief Economist Joseph Stiglitz writes that the Federal Reserve should hold back on interest rate increases until wage growth has made up for workers' recession losses.

How 'Flexible' Schedules Have Become a Trap for Working Parents (Vox)

Roosevelt Institute Fellow Andrea Flynn and Elizabeth Weingarten explain how erratic scheduling practices prevent the financial stability working parents need.

What's a 'Living Wage' in Wisconsin? (Bloomberg Businessweek)

Because Wisconsin's minimum wage law says it should also be a living wage, a group of low-wage workers are suing to have it raised, reports Josh Eidelson.

The Other Side of the Growing Disconnect Between Where You Live and Work (Pacific Standard)

Jim Russell looks at an example of a company bringing in lower-paid workers from other countries to explain how global wages hurt people's ability to pay rent in expensive cities.

Efforts to Regulate CEO Pay Gain Traction (Boston Globe)

Katie Johnston looks at some state-level efforts, including a Massachusetts initiative to fine hospitals that pay executives more than 100 times their lowest-paid employees.

How a Divided Senate Could Threaten Social Security (The Nation)

John Nichols says that if the independents running for Senate were to emphasize ending gridlock above all else, their compromises could cause unacceptable harm.

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Daily Digest - October 27: Wall Street Should Worry About Crossing the American Public

Oct 27, 2014Tim Price

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Pensions and Private Equity (NYT)

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Pensions and Private Equity (NYT)

In a letter to the editor, Roosevelt Institute Fellow Saqib Bhatti says public pension funds should use the leverage provided by their huge pools of capital to demand transparency from Wall Street firms.

City Pays High Price for Interest Rate 'Deals' (Chicago Reporter)

Experts like Saqib Bhatti and Roosevelt Institute Senior Fellow Brad Miller say banks misrepresented the risks of Chicago's interest rate swaps, and they've cost the city hundreds of millions, writes Curtis Black.

Comcast: Broadband Battleground (FT)

The merger of Comcast and Time Warner Cable would create a monopoly on high-speed Internet comparable to 19th century railroad barons, Roosevelt Institute Fellow Susan Crawford tells Matthew Garrahan.

25 European Banks Fail Stress Test (Reuters)

A group of Europe's biggest banks had a collective capital shortfall of 25 billion euros in 2013, Laura Noonan and Eva Taylor report, which would put them at risk in the event of another economic shock.

5 Ways America Is Failing Millennials -- And What to Do About It (Vox)

Millennials face a unique set of public policy challenges, writes Reid Cramer, from their inability to find long-term employment and benefits to their distaste for hyper-partisan politics.

Coalition of Immokalee Workers' Fair Food Label Makes National Debut (AP)

The CIW, which received the Roosevelt Institute's Freedom from Want Medal in 2013, says the new label will identify tomatoes picked by workers who are paid a premium and afforded basic rights.

Commission Greenlights Grocery Deliveries by Struggling Postal Service (WaPo)

In a two-year trial for a potential nationwide program, the USPS will raise revenue by delivering groceries in San Francisco, despite concerns from private grocery-delivery services, writes Josh Hicks.

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Daily Digest - October 24: Redefining Corporate Goals Could Rein in CEO Pay

Oct 24, 2014Rachel Goldfarb

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Understanding the CEO Pay Debate: A Primer on America's Ongoing C-Suite Conversation (Roosevelt Institute)

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Understanding the CEO Pay Debate: A Primer on America's Ongoing C-Suite Conversation (Roosevelt Institute)

In their primer, Roosevelt Institute Fellow Susan Holmberg and Campus Network member Michael Umbrecht suggest a shift away from shareholder primacy to reduce incentives for high CEO pay. 

One-Third of Top Websites Restrict Customers’ Right to Sue (NYT)

Jeremy B. Merrill reports on major consumer websites that restrict customers' ability to take legal action, even when the companies engage in harmful activity like conspiring to fix hotel room prices.

Majority of Bank Risk Managers Are Worried About the Wealth Gap (WSJ)

Nick Timiraos looks at a new study on bank risk managers' concerns regarding the health of our financial system. Only 14 percent think inequality doesn't pose any threat at all.

This City Came Up With a Simple Solution to Homelessness: Housing (The Nation)

Kara Dansky profiles Salt Lake City's shift to a Housing First model, which recognizes that long-term housing for the homeless is cheaper than standard interventions like shelters and emergency services.

The Terrifying Idea That the Economy Might Stay Stuck Forever Just Got More Terrifying (WaPo)

Matt O'Brien lays out a new study's model for secular stagnation -- i.e., a potentially never-ending economic slump -- in the U.S., and explains what will be needed to break the cycle.

Fed’s Loan Scrutiny Leaves Banks Passing on Buyout Deals (Bloomberg News)

Christine Idzelis and Alex Sherman report that the big banks' decision to pass on high-scrutiny deals is opening up opportunities for their smaller competitors.

New on Next New Deal

The Phenomenology of Google's Self-Driving Cars

Roosevelt Institute Fellow Mike Konczal says that driving requires some unconscious and reflexive learning that artificial intelligence just can't duplicate, and that will create an obstacle for driverless cars.

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Daily Digest - October 23: A Complex Financial System Begets Complex Regulations

Oct 23, 2014Rachel Goldfarb

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Dodd-Frank Spawns Software to Comprehend Dodd-Frank (Marketplace)

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Dodd-Frank Spawns Software to Comprehend Dodd-Frank (Marketplace)

Sabri Ben-Achour speaks to Roosevelt Institute Fellow Mike Konczal and others about the complexity of the Volcker Rule. Mike says the scrutiny of the courts has made some rules clunkier than necessary.

Unions Keep Pushing Emanuel to Challenge Interest Rate Hedges (Crain's Chicago Business)

Roosevelt Institute Senior Fellow Brad Miller has joined the push to convince the Chicago Board of Education to seek legal remedies for some bad financial transactions, writes Greg Hinz.

The Big Bank Backlash Begins (ProPublica)

Jesse Eisinger reports on the banks' take on current regulatory practices, after attending a conference where their lawyers discussed strategies for dealing with tough regulators.

Should the Poor Be Allowed to Vote? (The Atlantic)

Peter Beinart says voter ID laws are part of a long and unfortunate American tradition of distrusting poor people's ability to make reasoned political choices.

America's Middle Class Knows It Faces a Grim Retirement (LA Times)

Michael Hiltzik looks at a scary set of survey results from Wells Fargo, and says that expanding Social Security is the best option to ensure that retirement is possible for the middle class.

The Sharing Economy’s ‘First Strike’: Uber Drivers Turn Off the App (In These Times)

In what some are calling the first labor strike in the sharing economy, Uber drivers in five cities stopped picking up rides yesterday, reports Rebecca Burns.

Can Student Credit Unions Solve the College Affordability Problem? (The Nation)

Helene Barthelemy reports on a Columbia University group's attempt to open a fully student-run credit union on campus, with broad goals that include offering lower rate student loans.

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Daily Digest - October 22: Taking Organized Labor Beyond Collective Bargaining

Oct 22, 2014Rachel Goldfarb

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The Seeds of a New Labor Movement (TAP)

Harold Meyerson profiles David Rolf of SEIU and his work to push labor organizations beyond collective bargaining to incorporate minimum wage fights and other organizing work.

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The Seeds of a New Labor Movement (TAP)

Harold Meyerson profiles David Rolf of SEIU and his work to push labor organizations beyond collective bargaining to incorporate minimum wage fights and other organizing work.

  • Roosevelt Take: Roosevelt Institute Senior Fellow Richard Kirsch's report lays out policy ideas for reinvigorating the labor movement.

Holiday Shopping Season Kicks Off With Temp Workers Who Have No Rights (The Guardian)

Siri Srinivas says Amazon's annual hiring of thousands of temp workers to staff its warehouses during the busy holiday season highlights the lack of protections for U.S. workers.

States Ease Laws That Protected Poor Borrowers (NYT)

Michael Corkery reports on recent efforts by the consumer loan lobby to permit higher interest rates on riskier loans. These changes are opposed by many, including military leaders.

America’s Ugly Economic Truth: Why Austerity is Generating Another Slowdown (Salon)

David Dayen says that our economic October surprise, which includes stock market slumps and interest rate drops, is indicative of a larger global problem caused by austerity politics.

Ebola Galvanizes Workers Battling to Join Unions, Improve Safety (Reuters)

For workers exposed to bodily fluids, like those who clean airplane bathrooms, lack of clarity around Ebola safety has kicked union organizers into overdrive, writes Mica Rosenberg.

Republicans Trying to Woo, or at Least Suppress, Minority Vote (NY Mag)

Jonathan Chait looks at the Republican Party's split strategy, which simultaneously attempts to convince minority voters to vote for them while pushing laws that make it more difficult to vote.

Federal Reserve Officials Scold Bankers, Again (Buzzfeed)

Matthew Zeitlin reports on statements by the New York Federal Reserve president at a conference on Monday, where he questioned whether large banks can be managed effectively.

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Daily Digest - October 21: Pregnancy Is Not a Performance Issue

Oct 21, 2014Rachel Goldfarb

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Baby on Way, Worker Gets Her Job Back (NYT)

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Baby on Way, Worker Gets Her Job Back (NYT)

Angelica Valencia was fired when doctor's orders limited her from overtime during her pregnancy, but was helped by New York City's Pregnant Workers Fairness Act, writes Rachel Swarns.

Work-Sharing: A Socialist Alternative to Layoffs? (The Nation)

Michelle Chen looks at government-supported work-sharing, in which many workers' hours are cut and the government subsidizes their lost wages, as a fix for underemployment.

Can Homeless People Move Into Baltimore's Abandoned Houses? (The Atlantic)

Alana Semuels reports on activists' push to create affordable housing for Baltimore's homeless. Their plan involves buying abandoned properties with a community land trust.

Yes, the Federal Reserve Can Reduce Inequality. (WaPo)

Jared Bernstein says that by doing its job right -- which means fighting unemployment, reducing bubbles and busts, and initiating important research -- the Fed will reduce inequality.

Republicans Say Minimum Wage Hikes Hurt Job Growth. Here's What the Evidence Says. (TNR)

A new study on job growth among low-wage workers shows that states that increased their minimum wage saw very slightly stronger job growth, writes Danny Vinik.

Good Jobs No Longer an Afterthought in Awarding Lavish Transit Contracts (AJAM)

Haya El Nasser explains a new coalition's efforts to ensure companies competing for transit contracts hire American workers, with a goal of rewarding better employers.

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Daily Digest - October 20: Charity Never Helped Every Person in Need

Oct 20, 2014Rachel Goldfarb

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Iowa’s Tea Party Disaster: Joni Ernst’s Shocking Ideas About the Welfare State (Salon)

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Iowa’s Tea Party Disaster: Joni Ernst’s Shocking Ideas About the Welfare State (Salon)

Elias Isquith references Roosevelt Institute Fellow Mike Konczal's Democracy Journal article on voluntarism to explain why Ernst is so wrong about the place of charity in the social safety net.

Policymakers Slowly Acknowledge What Marketers Have Known for Years: Millennials Exist (Fusion)

Emily DeRuy reports on Millennials Rising, quoting Roosevelt Institute Vice President of Networks Taylor Jo Isenberg on why Millennials feel disconnected from policymaking.

Amity Shlaes: If Being Wrong About the Economy Is Wrong, I Don’t Wanna Be Right (NY Mag)

Jonathan Chait responds to Amity Shlaes's defense of a 2010 letter warning the Fed about inflation that never came. He points out the need to balance that risk with the reality of unemployment.

Rising Inequality: Janet Yellen Tells It Like It Is (New Yorker)

John Cassidy discusses the importance of the Federal Reserve Chair's Friday speech, which questioned whether rising inequality threatens American values of opportunity.

Amazon’s Monopsony Is Not O.K. (NYT)

The current fight between Amazon and Hachette proves that Amazon is abusing its power, writes Paul Krugman, who compares Amazon's business practices to Standard Oil.

The Epic Struggle Over Retirement (AJAM)

Susan Greenbaum says that allowing Wall Street to attempt to fix pensions by turning them into defined contribution plans managed by Wall Street would be disastrous.

Workers Bring $15 Hourly Wage Challenge to Walmart (The Nation)

Michelle Chen reports on recent demonstrations by Walmart workers fighting for a better workplace. Walmart's willingness to "end minimum-wage pay" isn't enough to bring workers out of poverty.

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Daily Digest - October 17: The False Prophets of the Invisible Hand

Oct 17, 2014Tim Price

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What Markets Will (NYT)

Many economic analysts talk about the market as a kind of divine force, writes Paul Krugman, but they're only using it as an excuse to justify their own desire for more human sacrifice.

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What Markets Will (NYT)

Many economic analysts talk about the market as a kind of divine force, writes Paul Krugman, but they're only using it as an excuse to justify their own desire for more human sacrifice.

AbbVie Board Ditches Planned $55 Billion Shire Acquisition (Reuters)

The pharmaceutical company has abandoned plans to shift its tax base to the U.K., reports Ben Hirschler, because new rules make it harder to dodge U.S. taxes through such inversion schemes.

How the Fed Is Trying to Fill in the Gaps of Monetary Policy (WaPo)

Janet Yellen met with nonprofits and community developers in Chelsea, MA yesterday to discuss how Federal Reserve policy can better support working-class cities, reports Ylan Q. Mui.

Even Red-State Voters Want to Raise the Minimum Wage (The Nation)

Minimum wage increases will be on the ballot this fall in some states that lean heavily Republican, writes John Nichols, despite opposition from the top leadership of the party.

$10.10 Minimum Wage Would Save The U.S. Government $7.6 Billion A Year (HuffPost)

A new study from the Economic Policy Institute shows that a higher minimum wage would allow 1.7 million workers to stop relying on public assistance programs, reports Kevin Short.

Companies Warn That Income Inequality Is Hurting Their Business (ThinkProgress)

An analysis of corporate filings finds that many of the largest U.S. retail companies are concerned that their customers are not earning enough money to support sales, writes Alan Pyke.

The Volcker Rule: How a Simple Idea to Rein In Banks Got Supersized (Bloomberg View)

A straightforward proposal to ban proprietary trading has ballooned to hundreds of pages, leading some to call for the return of Glass-Steagall as an alternative, writes Yalman Onaran.

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