• Get in Touch
  • Get in Touch with our Support!
  • Privacy Policy
Thursday, March 23, 2023
OvaNewsBlast.com
  • Home
  • News
  • African Americans
  • Business
  • Sports
  • Technology
  • Entertainment
No Result
View All Result
  • Home
  • News
  • African Americans
  • Business
  • Sports
  • Technology
  • Entertainment
No Result
View All Result
OvaNewsBlast.com
No Result
View All Result

Coronavirus Is a Crisis. Might It Also Narrow Inequality?

June 26, 2020
in Business
Reading Time: 2min read
A A
Coronavirus Is a Crisis. Might It Also Narrow Inequality?
0
SHARES
2
VIEWS
Share ShareShareShareShareShare

More recently, the Great Recession offered an opportunity for the Obama administration to build on it. In 2009, government redistribution efforts, including food stamps, tax provisions and other social programs, shifted 5.3 percent of the nation’s income that year to the poorest 40 percent of households. This was the biggest such transfer in at least three decades, raising the incomes of that contingent to 18.6 percent of the total.

By the end of his presidency, Mr. Obama had not only extended health insurance to millions of working-class Americans. According to the Congressional Budget Office, in 2016 government programs transferred 6.1 percent of national income to the poorest 40 percent, increasing their slice to 18.8 percent, the largest in almost a quarter-century.

Mr. Obama’s chief economic adviser, Jason Furman, highlighted the “historic achievement” of the administration in mitigating the nation’s income inequality.

Mr. Emanuel, who in the depths of the crisis argued that “you never want a serious crisis to go to waste,” acknowledged that the administration might not have achieved all its policy goals, but said, “It wasn’t a swing in the wind.”

In the coronavirus crisis, however, not everybody shares this sense of political opportunity.

Walter Scheidel, an economic historian at Stanford University, has written exhaustively about the power of crises — wars, famines, natural disasters, pestilence — to shift societies onto a more egalitarian path. As far back as the Roman Empire and even beyond, he writes, the equalizing moments in history “shared one common root: massive and violent disruptions of the established order.”

While the current emergency might seem like a big deal, Mr. Scheidel argues, it probably won’t be damaging enough. “If the crisis is bad enough, it might shape preferences enough to shift where the majorities are,” he said. “But it’s not something I see happening any time soon. We are too stable.”

Credit: Source link

ShareTweetSendSharePinShare
Previous Post

Spoken Word Artist Claims the Most Important Missing Concept for Solving Internal Pandemic of Black People

Next Post

Robert Johnson’s Big Idea: $14 trillion in slavery reparations to African-Americans

Next Post
Robert Johnson’s Big Idea: $14 trillion in slavery reparations to African-Americans

Robert Johnson's Big Idea: $14 trillion in slavery reparations to African-Americans

  • Trending
  • Comments
  • Latest
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

Herstory: How a Barrier-Breaking Pharmacist's Legacy Lives on in Old Saybrook – NBC Connecticut

March 22, 2023
The Charles H. Wright Museum of African American History and the College for Creative Studies … | News

The Charles H. Wright Museum of African American History and the College for Creative Studies … | News

March 9, 2022
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

DE&I talks significantly increased after George Floyd's murder – Insurance Business

March 22, 2023
A 2020 Round-Up with WTTW

A 2020 Round-Up with WTTW

December 16, 2020
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

Top 10 African countries producing Palm Oil – Business Insider Africa

March 22, 2023
Colorado’s Teacher of the Year is a Black Male Educator For the First Time Ever

Colorado’s Teacher of the Year is a Black Male Educator For the First Time Ever

March 23, 2023
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

Sandra Evers-Manly: Black Hollywood Advocate, Philanthropist, and … – Lasentinel

March 23, 2023
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

NPPC provides operations overview | News, Sports, Jobs – Fairmont Sentinel

March 23, 2023
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

The Ciskei experiment: a libertarian fantasy in apartheid South Africa – The Guardian

March 23, 2023
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

Rock Hill set to tell its success story to economic development professionals across SC – Rock Hill Herald

March 23, 2023

Recent News

Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

Effort recognizes females in business for Women's History Month – Yahoo News

March 23, 2023
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

Michael Jordan in Talks to Sell Majority Stake of Charlotte Hornets, Per Reports – NBC 10 Philadelphia

March 17, 2023
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

Philly arts and culture events to check out this weekend – Metro Philadelphia

March 22, 2023
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

This UVA player was shot just months ago. Now, he's back on the field: 'God has a plan for me' – CBS 6 News Richmond WTVR

March 21, 2023
OvaNewsBlast.com

A reliable source for African American news, from a different lens. Yours. News about us, by us.

Follow Us

Recent News

Colorado’s Teacher of the Year is a Black Male Educator For the First Time Ever

Colorado’s Teacher of the Year is a Black Male Educator For the First Time Ever

March 23, 2023
Retailers try to curb theft while not angering shoppers – ABC 10 News San Diego KGTV

Sandra Evers-Manly: Black Hollywood Advocate, Philanthropist, and … – Lasentinel

March 23, 2023

Topics to cover !

  • African Americans
  • Business
  • Entertainment
  • News
  • Sports
  • Technology
  • Get in Touch
  • Get in Touch with our Support!
  • Privacy Policy

© 2020 ovanewsblast.com - All rights reserved!   Download Our App   Read News on odbnewsblast.com

No Result
View All Result
  • Home
  • News
  • African Americans
  • Business
  • Sports
  • Technology
  • Entertainment

© 2020 ovanewsblast.com - All rights reserved!   Download Our App   Read News on odbnewsblast.com