Group items matching

in title, tags, annotations or url

Deaton and the economist Anne Case, who is also his wife, coined the term “deaths of despair” to describe the surge of mortality from alcohol, drugs and suicide.

“The meaningfulness of the working-class life seems to have evaporated,” Angus Deaton, the Nobel Prize-winning economist, told us. “The economy just seems to have stopped delivering for these people.”

Only in America has life expectancy now fallen three years in a row, for the first time in a century, because of “deaths of despair.”

Even in this presidential campaign, the unraveling of working-class communities receives little attention. There is talk about the middle class, but very little about the working class

The suffering was invisible to affluent Americans, but the consequences are now evident to all: The survivors mostly voted for Trump, some in hopes that he would rescue them

The stock market is near record highs, but working-class Americans (often defined as those without college degrees) continue to struggle. If you’re only a high school graduate, or worse, a dropout, work no longer pays.

If the federal minimum wage in 1968 had kept up with inflation and productivity, it would now be $22 an hour. Instead, it’s $7.25.

we would return to the Kristof family farm in Yamhill and see a humanitarian crisis unfolding in a community we loved — and a similar unraveling was happening in towns across the country. This was not one town’s problem, but a crisis in the American system.

“I’m a capitalist, and even I think capitalism is broken,” says Ray Dalio, the founder of Bridgewater, the world’s largest hedge fund.

One consequence is that the bottom end of America’s labor force is not very productive, in ways that reduce our country’s competitiveness

we discuss college access but not the one in seven children who don’t graduate from high school.

“We have to stop being obsessed over impeachment and start actually digging in and solving the problems that got Donald Trump elected in the first place,”

We have to treat America’s cancer.

the situation is worsening, because families have imploded under the pressure of drug and alcohol abuse, and children are growing up in desperate circumstances

In the 1970s and ’80s it was common to hear derogatory suggestions that the forces ripping apart African-American communities were rooted in “black culture.” The idea was that “deadbeat dads,” self-destructive drug abuse and family breakdown were the fundamental causes, and that all people needed to do was show “personal responsibility.

A Harvard sociologist, William Julius Wilson, countered that the true underlying problem was lost jobs, and he turned out to be right. When good jobs left white towns like Yamhill a couple of decades later because of globalization and automation, the same pathologies unfolded there.

Men in particular felt the loss not only of income but also of dignity that accompanied a good job. Lonely and troubled, they self-medicated with alcohol or drugs, and they accumulated criminal records that left them less employable and less marriageable.

Family structure collapsed.

The problems are also rooted in disastrous policy choices over 50 years

The kids on the No. 6 bus rode into a cataclysm as working-class communities disintegrated across America because of lost jobs, broken families, gloom — and failed policies.

The United States wrested power from labor and gave it to business, and it suppressed wages and cut taxes rather than invest in human capital, as our peer countries did.

Americans also bought into a misconceived “personal responsibility” narrative that blamed people for being poor.

It’s true, of course, that personal responsibility matters: People we spoke to often acknowledged engaging in self-destructive behaviors.

But when you can predict wretched outcomes based on the ZIP code where a child is born, the problem is not bad choices the infant is making.

If we’re going to obsess about personal responsibility, let’s also have a conversation about social responsibility.

Why did deaths of despair claim Farlan, Zealan, Nathan, Rogena and so many others?

First, well-paying jobs disappeared

Second, there was an explosion of drugs

Third, the war on drugs sent fathers and mothers to jail, shattering families.

Both political parties embraced mass incarceration and the war on drugs, which was particularly devastating for black Americans, and ignored an education system that often consigned the poor — especially children of color — to failing schools

Since 1988, American schools have become increasingly segregated by race, and kids in poor districts perform on average four grade levels behind those in rich districts.

Women in Recovery has a recidivism rate after three years of only 4 percent, and consequently has saved Oklahoma $70 million in prison spending,

ob training and retraining give people dignity as well as an economic lifeline. Such jobs programs are common in other countries.

For instance, autoworkers were laid off during the 2008-9 economic crisis both in Detroit and across the Canadian border in nearby Windsor, Ontario. As the scholar Victor Tan Chen has showed, the two countries responded differently

The United States focused on money, providing extended unemployment benefits. Canada emphasized job retraining, rapidly steering workers into new jobs in fields like health care, and Canadian workers also did not have to worry about losing health insurance.

The focus on job placement meant that Canadian workers were ushered more quickly back into workaday society and thus today seem less entangled in drugs and family breakdown.

Another successful strategy is investing not just in prisons but also in human capital to keep people out of prisons.

We attended a thrilling graduation in Tulsa, Okla., for 17 women completing an impressive local drug treatment program called Women in Recovery.

The graduates had an average of 15 years of addiction each, and all were on probation after committing crimes. Yet they had quit drugs and started jobs

Yet it’s not hopeless. America is polarized with ferocious arguments about social issues, but we should be able to agree on what doesn’t work: neglect and underinvestment in children. Here’s what does work.

Bravo for philanthropy, but the United States would never build interstate highways through volunteers and donations, and we can’t build a national preschool program or a national drug recovery program with private money.

For individuals trying to break an addiction, a first step is to face up to the problem — and that’s what America should do as well

the Great Resignation, it turns out, is largely an American phenomenon. European nations have been much more successful than we have at getting people back to work. In France, in particular, employment and labor force participation are now well above prepandemic levels. What explains this difference?

Europe, on the other hand, mainly relied on job retention schemes — government aid intended to keep people on employer payrolls even if they weren’t working at the moment.

where European labor support helped keep workers linked to their old jobs, facilitating a rapid return, U.S. policy allowed many of those links to be severed, making an employment recovery harder.

Perhaps one reason Europeans aren’t engaging in an American-style Great Resignation is that they don’t hate their jobs quite as much.

a significant number may have realized that low-paying jobs with lousy working conditions weren’t worth having

some jobs that are grueling and poorly paid here are less awful on the other side of the Atlantic. Famously, in Denmark McDonald’s pays more than $20 an hour and offers six weeks of paid vacation each year

the U.S. does stand out among wealthy countries for having a low minimum wage, for offering very little vacation time and for failing to offer parental and sick leave

Jobs reports reveal key economic indicators, and thus this one will likely influence the Federal Reserve’s decision making  at the next Federal Open Market Committee meeting on June 14.

in the past 30 years, software and robots have thrived at replacing a particular kind of occupation: the average-wage, middle-skill, routine-heavy worker, especially in manufacturing and office admin. 

the next wave of computer progress will continue to shred human work where it already has: manufacturing, administrative support, retail, and transportation. Most remaining factory jobs are "likely to diminish over the next decades," they write. Cashiers, counter clerks, and telemarketers are similarly endangered

here's a chart of the ten jobs with a 99-percent likelihood of being replaced by machines and software. They are mostly routine-based jobs (telemarketing, sewing) and work that can be solved by smart algorithms (tax preparation, data entry keyers, and insurance underwriters)

I've also listed the dozen jobs they consider least likely to be automated. Health care workers, people entrusted with our safety, and management positions dominate the list.

If you wanted to use this graph as a guide to the future of automation, your upshot would be: Machines are better at rules and routines; people are better at directing and diagnosing. But it doesn't have to stay that way.

Although the past 30 years have hollowed out the middle, high- and low-skill jobs have actually increased, as if protected from the invading armies of robots by their own moats

Higher-skill workers have been protected by a kind of social-intelligence moat. Computers are historically good at executing routines, but they're bad at finding patterns, communicating with people, and making decisions, which is what managers are paid to do

lower-skill workers have been protected by the Moravec moat. Hans Moravec was a futurist who pointed out that machine technology mimicked a savant infant: Machines could do long math equations instantly and beat anybody in chess, but they can't answer a simple question or walk up a flight of stairs. As a result, menial work done by people without much education (like home health care workers, or fast-food attendants) have been spared, too.

robots are finally crossing these moats by moving and thinking like people. Amazon has bought robots to work its warehouses. Narrative Science can write earnings summaries that are indistinguishable from wire reports. We can say to our phones I'm lost, help and our phones can tell us how to get home. 

In a decade, the idea of computers driving cars went from impossible to boring.

The first wave showed that machines are better at assembling things. The second showed that machines are better at organization things. Now data analytics and self-driving cars suggest they might be better at pattern-recognition and driving. So what are we better at?

One conclusion to draw from this is that humans are, and will always be, superior at working with, and caring for, other humans. In this light, automation doesn't make the world worse. Far from it: It creates new opportunities for human ingenuity.  

But robots are already creeping into diagnostics and surgeries. Schools are already experimenting with software that replaces teaching hours. The fact that some industries have been safe from automation for the last three decades doesn't guarantee that they'll be safe for the next one.

It would be anxious enough if we knew exactly which jobs are next in line for automation. The truth is scarier. We don't really have a clue.

The other half agree that some jobs will disappear, but they are not convinced that new ones will take their place, even for some highly skilled workers. They fear a future of widespread unemployment, deep inequality and violent uprisings — particularly if policy makers and educational institutions don’t step in.

We’re going to have to come to grips with a long-term employment crisis and the fact that — strictly from an economic point of view, not a moral point of view — there are more and more ‘surplus humans.'  ”

“The degree of integration of A.I. into daily life will depend very much, as it does now, on wealth. The people whose personal digital devices are day-trading for them, and doing the grocery shopping and sending greeting cards on their behalf, are people who are living a different life than those who are worried about missing a day at one of their three jobs due to being sick, and losing the job and being unable to feed their children.”

“Only the best-educated humans will compete with machines. And education systems in the U.S. and much of the rest of the world are still sitting students in rows and columns, teaching them to keep quiet and memorize what is told to them, preparing them for life in a 20th century factory.”

“We hardly dwell on the fact that someone trying to pick a career path that is not likely to be automated will have a very hard time making that choice. X-ray technician? Outsourced already, and automation in progress. The race between automation and human work is won by automation.”

“Robotic sex partners will be commonplace. … The central question of 2025 will be: What are people for in a world that does not need their labor, and where only a minority are needed to guide the ‘bot-based economy?'  ”

“Employment will be mostly very skilled labor — and even those jobs will be continuously whittled away by increasingly sophisticated machines. Live, human salespeople, nurses, doctors, actors will be symbols of luxury, the silk of human interaction as opposed to the polyester of simulated human contact.”

The biggest exception will be jobs that depend upon empathy as a core capacity — schoolteacher, personal service worker, nurse. These jobs are often those traditionally performed by women. One of the bigger social questions of the mid-late 2020s will be the role of men in this world.”

Retailers added 121,000 jobs in December, which may have reflected consumers stepping up spending for the holidays.

The jobless rate hit 14.8% in April, the highest on record, instead of the previously reported 14.7%, Friday’s report showed.

The pandemic and related restrictions led to 22 million job losses in March and April; about 12 million have been recovered since then.

Health-care manufacturers are hiring workers to help make the Covid-19 vaccines. Catalent Inc., based in New Jersey, is dangling $3,000 signing bonuses as it hopes to fill hundreds of jobs.

But manufacturing represents only about 14% of the labor market. The vast majority of jobs are in services. Industries tied to in-person sales or interaction continue to struggle. Those include restaurants, hotels, music venues, and amusement parks.

Favoritism is almost universal in today’s job market. In interviews with hundreds of people on this topic, I found that all but a handful used the help of family and friends to find 70 percent of the jobs they held over their lifetimes; they all used personal networks and insider information if it was available to them.

the idea that there is a job “market” based solely on skills, qualifications and merit is false. Whenever possible, Americans seeking jobs try to avoid market competition: they look for unequal rather than equal opportunity

just as opportunities are unequally distributed, they are also unequally redistributed.

Inequality reproduces itself because help is typically reserved for people who are “like me”: the people who live in my neighborhood, those who attend my church or school or those with whom I have worked in the past

Seeing contemporary labor-market politics through the lens of favoritism, rather than discrimination alone, is revealing. It explains, for example, why even though the majority of all Americans, including whites, support civil rights in principle, there is widespread opposition on the part of many whites to affirmative action policies

my research demonstrated that the real complaint is that affirmative action undermines long-established patterns of favoritism.

The interviewees in my study who were most angry about affirmative action were those who had relatively fewer marketable skills — and were therefore most dependent on getting an inside edge for the best jobs.

whites helping other whites is not the same as discrimination, and it is not illegal. Yet it may have a powerful effect on the access that African-Americans and other minorities have to good jobs, or even to the job market itself.

The former seems to me a not unreasonable forecast — we’ve been losing good jobs for decades, while low-wage employment in the service sector has grown. But no paid work? That’s more a dream (or a nightmare) than a forecast

Farhad Manjoo: Because I’m scared that they’ll unleash their bots on me, I should start by defending the techies a bit

They see a future in which a small group of highly skilled tech workers reign supreme, while the rest of the job world resembles the piecemeal, transitional work we see coming out of tech today (Uber drivers, Etsy shopkeepers, people who scrape by on other people’s platforms).

Why does that future call for instituting a basic income instead of the smaller and more feasible labor-policy ideas that you outline? I think they see two reasons. First, techies have a philosophical bent toward big ideas, and U.B.I. is very big.

They see software not just altering the labor market at the margins but fundamentally changing everything about human society. While there will be some work, for most nonprogrammers work will be insecure and unreliable. People could have long stretches of not working at all — and U.B.I. is alone among proposals that would allow you to get a subsidy even if you’re not working at all

If there are, in fact, jobs to be had, a universal basic income may not be the best choice of policy. The lack of good work is probably best addressed by making the work better — better paid and more skilled — and equipping workers to perform it,

The challenge of less work could just lead to fewer working hours. Others are already moving in this direction. People work much less in many other rich countries: Norwegians work 20 percent fewer hours per year than Americans; Germans 25 percent fewer.

Farhad Manjoo: One key factor in the push for U.B.I., I think, is the idea that it could help reorder social expectations. At the moment we are all defined by work; Western society generally, but especially American society, keeps social score according to what people do and how much they make for it. The dreamiest proponents of U.B.I. see that changing as work goes away. It will be O.K., under this policy, to choose a life of learning instead of a low-paying bad job

Eduardo Porter: To my mind, a universal basic income functions properly only in a world with little or no paid work because the odds of anybody taking a job when his or her needs are already being met are going to be fairly low.

The discussion, I guess, really depends on how high this universal basic income would be. How many of our needs would it satisfy?

You give the techies credit for seriously proposing this as an optimal solution to wrenching technological and economic change. But in a way, isn’t it a cop-out? They’re just passing the bag to the political system. Telling Congress, “You fix it.

the idea of the American government agreeing to tax capitalists enough to hand out checks to support the entire working class is in an entirely new category of fantasy.

paradoxically, they also see U.B.I. as more politically feasible than some of the other policy proposals you call for. One of the reasons some libertarians and conservatives like U.B.I. is that it is a very simple, efficient and universal form of welfare — everyone gets a monthly check, even the rich, and the government isn’t going to tell you what to spend it on. Its very universality breaks through political opposition.

Eduardo Porter: I guess some enormous discontinuity right around the corner might vastly expand our prosperity. Joel Mokyr, an economic historian that knows much more than I do about the evolution of technology, argues that the tools and techniques we have developed in recent times — from gene sequencing to electron microscopes to computers that can analyze data at enormous speeds — are about to open up vast new frontiers of possibility. We will be able to invent materials to precisely fit the specifications of our homes and cars and tools, rather than make our homes, cars and tools with whatever materials are available.

The question is whether this could produce another burst of productivity like the one we experienced between 1920 and 1970, which — by the way — was much greater than the mini-productivity boom produced by information technology in the 1990s.

investors don’t seem to think so. Long-term interest rates have been gradually declining for a fairly long time. This would suggest that investors do not expect a very high rate of return on their future investments. R.&D. intensity is slowing down, and the rate at which new businesses are formed is also slowing.

Little in these dynamics suggests a high-tech utopia — or dystopia, for that matter — in the offing

Most of the manual labor still being done in our economy seems to be of the kind that’s hard to automate.

And then there’s globalization. Once, only manufacturing workers needed to worry about competition from overseas, but the combination of computers and telecommunications has made it possible to provide many services at long range.

high-wage jobs performed by highly educated workers are, if anything, more “offshorable” than jobs done by low-paid, less-educated workers.

the notion that putting more kids through college can restore the middle-class society we used to have is wishful thinking. It’s no longer true that having a college degree guarantees that you’ll get a good job, and it’s becoming less true with each passing decade.

So if we want a society of broadly shared prosperity, education isn’t the answer — we’ll have to go about building that society directly. We need to restore the bargaining power that labor has lost over the last 30 years, so that ordinary workers as well as superstars have the power to bargain for good wages. We need to guarantee the essentials, above all health care, to every citizen.

The teenagers in the control group participated in neither part of the program.

There was a big difference, though, in the violent crime arrest data between the teenagers who got jobs and those who did not:

Heller, in fact, found that most of the decline came a few months later:

A lot of things could be going on here. Teenagers who might have committed crime to get money would no longer need to when they have a job.

If their added income allowed parents to work less, they may also have gotten more adult supervision.

It's also possible that students who were busy working simply didn't have idle time over the summer to commit crime — but that theory doesn't explain the long-term declines in violent arrests that occurred well after the summer program was over.

Some of the students were given part-time jobs through the program, working 25 hours a week at minimum wage ($8.25 in Illinois) with government or non-profit employers

That long-term benefit suggests that students who had access to jobs may have then found crime a less attractive alternative to work. Or perhaps their time on the job taught them how the labor market values education. Or maybe the work experience may have given them skills that enabled them to be more successful — and less prone to getting in trouble — back in school.

The results echo a common conclusion in education and health research: that public programs might do more with less by shifting from remediation to prevention.

The findings make clear that such programs need not be hugely costly to improve outcomes for disadvantaged youth; well-targeted, low-cost employment policies can make a substantial difference, even for a problem as destructive and complex as youth violence.

If we had the same income distribution in the United States that we did in 1979, the top 1 percent would have $1 trillion less today [in annual income], and the bottom 80 percent would have $1 trillion more. That works out to about $700,000 [a year for] for a family in the top 1 percent, and works out to about $11,000 a year for a family in the bottom 80 percent.

he is “all for” more schooling and job training, but as an answer to the problems of the job marketplace, “it is fundamentally an evasion.”

“The core problem,” according to Summers, is thatthere aren’t enough jobs, and if you help some people, you can help them get the jobs, but then someone else won’t get the jobs. And unless you’re doing things that are affecting the demand for jobs, you’re helping people win a race to get a finite number of jobs, and there are only so many of them.

To counter the weak employment market, Summers called for major growth in government expenditures to fill needs that the private sector is not addressing:In our society, whether it is taking care of the young or taking care of the old, or repairing a lot that needs to be repaired, there is a huge amount of very valuable work that needs to be done. It’s much less clear, to use a modern phrase, that there’s a viable business model for getting it done. And I guess the reason why I think there is going to need to be a lot of reflection on the role of government going forward is that, if I’m right, that there’s vitally important work to be done for which there is no standard capital business model that will get it done. That suggests important roles for public policy.

In other words, any attempt to correct the contemporary pattern in income distribution would require large and controversial changes in tax policy, regulation of the workplace, and intervention in the economy to expand employment and to raise wages.

The lion’s share of the income of the top 1 percent is concentrated in the top 0.1 percent and 0.01 percent. The average income of the top 1 percent in 2013, according to data provided by Emmanuel Saez, a Berkeley economist, was $1.2 million, for the top 0.1 percent, $5.3 million, and for the top 0.01 percent, $24.9 million.

the report calls for tax and regulatory policies to encourage employee ownership, the strengthening of collective bargaining rights, regulations requiring corporations to provide fringe benefits to employees working for subcontractors, a substantial increase in the minimum wage, sharper overtime pay enforcement, and a huge increase in infrastructure appropriations – for roads, bridges, ports, schools – to spur job creation and tighten the labor market.

Summers also calls for significant increases in the progressivity of the United States tax system.

He advocates aggressive steps to eliminate “rents” — profits that result from monopoly or other forms of government protection from competition. Summers favors attacking rents in the form of “exclusionary zoning practices” that bid up the price of housing, “excessively long copyright” protections, and financial regulations “providing implicit subsidies to a fortunate minority.”

Signaling that he now finds himself on common ground with stalwarts of the Democratic left like Elizabeth Warren and Joe Stiglitz, Summers adds, “Government needs to try to make sure everyone can get access to financial markets on an equal basis.”

Summers supports looking past income inequality to the distribution of wealth. During our conversation, he pointed out that “a large fraction of capital gains escapes taxation entirely” through “the stepped up basis at death.”

The idea that an economy could suffer from a persistent shortage of demand is an enormous switch for Summers or anyone who had been adhering to the economic orthodoxy in the three decades prior to the crisisin 2008. Baker goes on to argue that Summers “now recognizes that the financial system needs serious regulation.”

Many of the policies outlined by Summers — especially on trade, taxation, financial regulation and worker empowerment — are the very policies that divide the Wall-Street-corporate wing from the working-to-middle-class wing of the Democratic Party. Put another way, these policies divide the money wing from the voting wing.

Summers has forced out in the open a set of choices that Hillary Clinton has so far avoided, choices that even if she attempts to elide them will amount to a signal of where her loyalties lie.

adding 50,000 more jobs to last year’s total

economy added 2.65 million jobs for the year, capping a two-year gain that was the best since the late 1990s.

The jobless rate, which has declined since topping the 10 percent mark in October 2009, continues to hover just above what economists consider full employment

Despite the improving job market, sluggish wage growth remains a persistent thorn

Wages remained flat in December

biggest question is whether overall growth will remain strong enough to keep hiring steady, or whether turmoil in China and elsewhere in the global economy will weigh on the United States economy

ertainly see the impact of global conditions in the manufacturing sector, where the strong dollar and weak commodities prices have diminished momentum substantially,”

The pain of a disappointing paycheck has been blunted by the continued decline in oil prices, which has lowered the cost of heating a home or filling up a car.

We’re getting at least 200,000 jobs per month on a consistent basis. That’s quite an achievement.”

The country’s economic fortunes will figure largely in this year’s presidential campaign

Republican candidates have attacked President Obama and other Democrats’ economic policie

Cautious optimism about the labor market contributed to the Federal Reserve’s decision a few weeks ago to raise interest rates from their near-zero levels

Mr. Chamberlain said worker benefits like paid parental leave and free catered lunches had significantly outpaced wage increases over the past decade.

“The remarkable thing is how consistent employment growth has been over the past three or four years

in addition to fundamental shifts in the economy, continuing slack in the labor market is partly responsible for the lack of improvement on wages

Employment in nonroutine occupations — both cognitive and manual — has been increasing steadily for several decades,

end of last year were the balmy temperatures in the Northeast and elsewhere. That clearly hurt retailers like Macy’s, which announced this week it was laying off 4,500 employees, largely because of a sharp decline in sales of coats and other winter wear,

The job hunting outlook varies significantly depending on the region of the country.

The Green New Deal, first and foremost, can be understood as trying to fix the BAD problem. In the long term, it’s an ambitious package of laws that will touch every sector of the economy. The Sunrise Movement, a youth-led activism group that has pushed for the policy, has listed seven demands that any Green New Deal must satisfy. They range from requiring the U.S. to get 100 percent of its electricity from renewable sources to “decarbonizing, repairing and improving transportation and other infrastructure.” They also call for a massive investment in technology that could directly remove carbon dioxide from the atmosphere.

The single most crucial aspect of the Green New Deal is its proposed job guarantee, a controversial policy that says that every American can have a job with the government if they want one. Data for Progress, a leftist advocacy group, claims that the Green New Deal could generate 10 million new jobs across the country over 10 years.

This policy—a job for every American who wants one—reflects what the party learned from fighting Obamacare’s repeal. Obamacare provides a revealing view into how economists think about policy versus how people experience it

Franklin D. Roosevelt’s New Deal was not a tax, even if it included taxes; it’s remembered instead as the greatest of all stimulus and jobs bills. If Democrats take the White House during a recession, they will have a far easier time passing a Green New Deal than a carbon tax.

Obamacare survived because it gave two new superpowers to voters. The first was the power never to be denied health insurance for preexisting conditions, and the second was free or cheap health insurance through Medicaid. The reason Americans jammed the Capitol Hill switchboards last year to protest the repeal—and pulled the lever for Democrats in November—wasn’t that they valued Obamacare’s elegant cost-control mechanism. They wanted to keep their superpowers.

Fixing climate change will include lots of technocratic tweaks, lots of bills about dirt. They will be hard to defend against later repeal. So it would be nice if lawmakers could wed them to a new benefit, a superpower that people will fight for years after passage. Hence the job guarantee—a universal promise of employment meant to win over Americans in general and create more union jobs in particular.

The policy aligns with emerging Democratic strategy, too. The Green New Deal is policy-by-slogan, like “Medicare for All” or “Free Community College” or “Abolish ICE.” Those phrases capture a worldview, a promise, and a vision of how life would be different after their passage. They mirror the pungency, if not the politics, of Trump’s promise to “Build the wall.”

as far as policy makers are concerned, Obamacare comprises a set of clever tweaks and rules meant to change how insurance markets work and lower the cost of health care. Before the law passed, Democratic lawmakers cared deeply about getting those tweaks right.

For her first day on Capitol Hill, and her first public act as a representative-elect, Ocasio-Cortez chose to focus on climate change

Many Americans first heard of the Green New Deal early last month, after Ocasio-Cortez made a surprise appearance at a demonstration in Nancy Pelosi’s office

Nevertheless, many commentators have ignored this evidence. They conclude not only that there are widespread shortages, but that the culprit is pandemic unemployment insurance benefits. Governors in 25 Republican-led states have now said they will no longer accept federal unemployment benefits. This will cut aid to nearly four million impacted workers, despite the absence of compelling evidence that jobless benefits are causing problems in the labor market. Instead, we have considerable evidence that it is helpful.

But employers of low-wage workers typically have a great deal of power to suppress wages. Out of desperation, these workers often have no choice but to take any job no matter how bad the wages, unsafe the labor, or chaotic the schedule as they try to cobble together child care or elder care. Unemployment insurance isn’t keeping people out of the labor market en masse right now. But, when expanded benefits mean some individuals don’t feel the same pressure to accept a terrible job, that is what economists would call efficiency enhancing.

The youth unemployment rate is a statistic the Chinese Communist Party takes seriously because it believes that idle young people could threaten its rule. Mao Zedong sent more than 16 million urban youth, including Mr. Xi, to toil in the fields of the countryside during the Cultural Revolution. The return of these jobless young people to cities after the Cultural Revolution, in part, forced the party to embrace self-employment, or jobs outside the state planned economy.

Many people are struggling emotionally. A young woman in Shanghai named Ms. Zhang, who graduated last year with a master’s degree in city planning, has sent out 130 resumes and secured no job offers and only a handful of interviews. Living in a 100-square-foot bedroom in a three-bedroom apartment, she barely gets by with a monthly income of less than $700 as a part-time tutor.“At my emotional low point, I wished I were a robot,” she said. “I thought to myself if I didn’t have emotions, I would not feel helpless, powerless and disappointed. I would be able to keep sending out résumés.”

“To ask us to endure hardships is to try to shift focus from the anemic economic growth and the decreasing job opportunities,” said Ms. Zhang, who, like most people I interviewed for this column, wanted to be identified with only her family name because of safety concerns. A few others want to be identified only with their English names.

Mr. Xi’s instruction to move to the countryside is equally out of touch with young people, as well as with China’s reality. Last December he told officials “to systematically guide college graduates to rural areas.” On Youth Day a few weeks ago, he responded to a letter by a group of agriculture students who are working in rural areas, commending them for “seeking self-inflicted hardships.” The letter, also published on the front page of People’s Daily, triggered discussions about whether Mr. Xi would start a Maoist-style campaign to send urban youths to the countryside.

In the hierarchical Chinese society, manual jobs are looked down upon. Farming ranks even lower because of the huge wealth gap between cities and rural areas. “Women wouldn’t consider to become my girlfriends if they knew that I deliver meals,” said Wang. He would fare even worse in the marriage market if he becomes a farmer.

Out of 13 Chinese graduates from his school, the five who chose to stay in the West have found jobs at Silicon Valley or Wall Street firms. Only three out of the eight who returned to China have secured job offers. Steven moved back to China earlier this year to be closer to his mother.

Now after months of fruitless job hunting, he, like almost every young worker I interviewed for this column, sees no future for himself in China.“My best way out,” he said, “is to persuade my parents to let me run away from China.”

“Policymakers need to think as hard about managing the current wave of disruptive innovation as technologists are thinking about turbocharging it.”

As the Internet goes about its work making the economy more efficient, it is reducing the need for travel agents, post office employees, and dozens of other jobs in corporate America. The increased interconnectivity created by the Internet forces many middle and lower class workers to compete for jobs with low-paid workers in developing countries. Even skilled technical workers are finding that their jobs can be outsourced to trained engineers and technicians in India and Eastern Europe.

The new news is that Internet-based companies may well be the businesses of the future, but they create opportunities for only a select few. Google has a little over 54,000 employees and generated revenues of around $50 billion in sales or about $1.0 million per employee.

in order to justify hiring an employee, a highly productive Internet company must create five to ten times the dollars in sales as the average domestic company.

will the Internet also create the greatest economic inequality the global economy has ever known?

One reason we are failing to create a vibrant middle class is that the Internet affects the economy differently than the new businesses of the past did., forcing businesses and their workers to face increased global competition. It reduces the barriers for moving jobs overseas. It has a smaller economic trickle-down effect.

Doing some of the obvious things like raising the minimum wage to fight the effects of the Internet will probably worsen the problem. For example, it will make it more difficult for bricks-and-mortar retailers to compete with online retailers.

Surprisingly, the much-vilified Walmart probably does more to help middle class families raise their median income than the more productive Amazon. Walmart hires about one employee for every $200,000 in sales, which translates to roughly three times more jobs per dollar of sales than Amazon

two things are certain: the Internet is creating many of those in the ultra-wealthy 1%; and it forces businesses to compete with capable international competitors while providing the tools so that businessmen can squeeze inefficiency out of the system in order to remain competitive.

If the government is going to be in the business of redistributing wealth, a better approach would be to raise the earned income tax credit and increase taxes to pay for it. Not only would this raise the income of low paid workers, but also it would subsidize businesses so they would be more competitive in world markets and encourage them to create jobs

China's growing pains have rippled through many countries with which it has deep trade ties.

As demand for raw materials dropped, it's sent prices careening for everything from crude oil and copper to iron ore. That's led mining and oil exploration companies to cut back on spending on the heavy equipment that Caterpillar produces.

Given those challenges, Caterpillar dimmed its 2015 sales targets and warned next year's revenue could decline by 5%. That would mark the first time in Caterpillar's 90-year history that sales have declined for four straight years.

the 10,000 job cut estimate includes the potential closing of more than 20 unspecified manufacturing facilities. The company will offer a voluntary retirement enhancement program for qualifying employees that will be completed by the end of 2015.

Earlier this week the company said retail sales of its machinery slumped 11% between June and August. The company felt the greatest pressure in China and Latin America.

Several times in late July and early August, so many workers were missing that the furnace line had to shut down in midday — even more disruptive than an early-morning halt. That hadn’t happened in years, employees said. Some workers cite illness, while others claim days under the Family and Medical Leave Act, saying they are taking care of sick relatives

On the worst days, according to one group leader, up to one in five workers are out. It’s true that the company has been running the factory hard — up to 60 hours a week with mandatory overtime, six days in a row — and some absenteeism could be due to sheer exhaustion, Mr. Roell allowed. But “bad blood,” as he put it, is at least as much to blame. “Workers feel like Carrier is going to leave,” he said, “whether we come to work or not.”

“There have been a few days when three people don’t show up and I’ve had to work on the line all day,” Mr. Maynard said. “The attitude, the demeanor — they’re not grateful that they have a job. The absenteeism is real bad. A lot of us need our jobs. Others look at it and they don’t really care anymore.”

A week after the election, the president-elect called the chief executive of Carrier’s parent, United Technologies. They worked out terms: Carrier would lay off 632 of its roughly 1,350 blue-collar employees in Indianapolis, but in exchange for $7 million in tax breaks, it would keep the plant open and invest $16 million in new equipment. A little more than half of the workers would keep their jobs.

The bad vibes can be catching. “It makes it so depressing you don’t feel like going in,” he added. “I need the job, but some days you just want it to be over with.”

Yes, Mr. Hayes said, the company would invest in the Carrier facility, as it had promised Mr. Trump. But those funds were earmarked for automation, and would ultimately mean fewer jobs in Indianapolis, not more. Assembly-line positions there were not ones “that people really find all that attractive over the long term,” Mr. Hayes said. There were “great, great people” there, he added, “but the skill set to do those jobs is very different than what it takes to assemble a jet engine.” The Carrier faithful didn’t appreciate the slights

Even before the closure announcement, he said, supervisors gathered people from the lines and pointed out, ominously, that their counterparts in Mexico missed fewer days. “I’m worried they will use the absenteeism as an excuse to shut the factory,” Mr. Roell said. “They aren’t doing anything to improve morale.”

Mr. Roell doesn’t want his son, 10, or his daughter, 15, to follow him into factory work. “We tell them all the time to go to college or trade school,” he said. “It’s just not stable working in manufacturing. One day, the factory is going to go to another state or country.

Mr. Jobs didn’t trust third-party developers to offer the same level of aesthetically pleasing and stable experiences that Apple programmers could produce. He was convinced that the phone’s carefully designed native features were enough. It was “an iPod that made phone calls,” Mr. Grignon said to me.

Practically speaking, to be a minimalist smartphone user means that you deploy this device for a small number of features that do things you value (and that the phone does particularly well), and then outside of these activities, put it away

Mr. Jobs probably got it right the first time: Many of us would be better off returning to his original minimalist vision for our phones.

Under what I call the “constant companion model,” we now see our smartphones as always-on portals to information. Instead of improving activities that we found important before this technology existed, this model changes what we pay attention to in the first place — often in ways designed to benefit the stock price of attention-economy conglomerates, not our satisfaction and well-being.

This approach dethrones this gadget from a position of constant companion down to a luxury object, like a fancy bike or a high-end blender, that gives you great pleasure when you use it but doesn’t dominate your entire day

To succeed with this approach, a useful first step is to remove from your smartphone any apps that make money from your attention. This includes social media, addictive games and newsfeeds that clutter your screen with “breaking” notifications.

Turning our attention to professional activities, if your work doesn’t absolutely demand that you be accessible by email when away from your desk, delete the Gmail app or disconnect the built-in email client from your office servers.

Once you’ve stripped away the digital chatter clamoring for your attention, your smartphone will return to something closer to the role originally conceived by Mr. Jobs. It will become a well-designed object that comes out occasionally throughout your day to support — not subvert — your efforts to live well:

The iPhone is a fantastic phone, but it was never meant to be the foundation for a new form of existence in which the digital increasingly encroaches on the analog