So what do we do about this? How can we begin to lift children of extreme poverty? The Hamilton Project at the prestigious Brookings Institute offers a number of poverty policy prescriptions that include increasing early childhood education, increasing mentoring and other support programs for disadvantaged youth, skills-building for low-income workers, support for the minimum wage and expansion of the EITC, among others.
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"Effective environmental regulations in India are vital for the hundreds of millions of Indians who are seeing their life expectancy cut short due to high air pollution. And if India chooses to regulate greenhouse gases, it will be important for the world as India increasingly becomes a major emitter of greenhouse gases," said University of Chicago economist Michael Greenstone, co-author of the study and the director of the Energy Policy Institute at Chicago. "We find that when it comes to enforcing its strong environmental regulations, India has a mixed track record."
They do that because America’s water markets often don’t work very well. As Glennon writes in another new paper for Hamilton, the way local, state and federal government allocates water can discourage the sort of market trading that should help get the resource in the hands of the people who will put it to its most valuable use. This has long been true in the West, where water rights can be passed down for more than a century and the law encourages sucking as much from the ground and the streams as you can possibly make use of.
In China, the conventional wisdom holds, state-owned enterprises dominate the economy, private companies are often starved for credit, and the central government exerts substantial influence.
Two studies to be presented at a forum next week organized by the Hamilton Project at the Brookings Institution and the Stanford Woods Institute for the Environment make the case that markets and prices are an indispensable part of the tool kit to combat scarcity. They are essential to induce both conservation and investment in water-saving technology, and to steer water to where it is valued most.
Sharing economy firms are disrupting traditional industries across the globe. For proof, look no further than Airbnb which, at $10 billion, can boast a higher valuation than the Hyatt hotel chain. Uber is currently valued at $18.2 billion relative to Hertz at $12.5 billion and Avis at $5.2 billion. Beyond individual firms, there are now more than 1,000 cities across four continents where people can share cars.
“It’s probably important, given the history, that they can point to new evidence, a change of pace relative to September 2011,” said Michael Greenstone, director of the University of Chicago’s Energy Policy institute.
“What’s happening when we turn on the lights, when the power is derived from a coal plant, or when we drive our car, is that carbon dioxide is emitted into the air, and that’s sprinkling around damages in Bangladesh, London, Houston,” said Michael Greenstone, the Milton Friedman Professor of Economics at the University of Chicago and the director of the Energy Policy Institute of Chicago.
All this adds up to a fairly big difference in lifetime earnings that follows the same pattern: engineers at the top, early childhood educators at the bottom. The engineers earn more than $1 million more over the course of their lifetimes. Of course, if you factored in graduate school here, these results would look different.
Tattoos have long since become commonplace in the U.S.: Forty percent of households now include someone with one, according to a recent survey, up from 21 percent in 1999. Apart from their fashionability, does this tell us anything about America? Consider what we know about people who get tattoos: They're not evenly distributed across the population, but tend to be found in families with relatively less education. Fifty percent of people with a high school diploma or less live in the same household with a tattooed person (or have one themselves), compared with 22 percent of those who have attended graduate school.
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A periodic newsletter of events, policy briefs, and working papers from The Hamilton Project.