A Kaleckian wealth tax to support a Green New Deal

2021 ◽  
Vol 32 (2) ◽  
pp. 190-208
Author(s):  
Susan Schroeder
Keyword(s):  
New Deal ◽  
Sovereign Debt ◽  
Wealth Inequality ◽  
Well Being ◽  
The United States ◽  
National Debt ◽  
Jel Codes ◽  
Net Worth ◽  
Wealth Tax ◽  
Negative Impacts

Green New Deals are being widely discussed as both a means to confront climate change and to improve aspects of social well-being. An important facet of the discussion is how they should be financed. The negative impacts of Covid-19 on national budgets and sovereign debt question whether the implementation of Green New Deals is feasible if austerity needs to be introduced to achieve sustainability. This article assesses whether a wealth tax based upon the work of Michal Kalecki could help avoid austerity measures and facilitate the introduction of Green New Deals. While wealth taxes have traditionally been defined on net worth or assets to reduce wealth inequality, the formulation is meant to be equitable by applying to gross wealth or assets. Estimates are calculated for the United States and turn out to be quite modest. The approach not only generates revenue to cover expected net interest outlays on national debt, but additional revenue to pay down portions of it and/or support green initiatives, such as Biden’s de-carbonisation policy. The article concludes with a discussion of challenges for the tax’s effectiveness. JEL Codes: H2, H3, B2, B3

scholarly journals Stand against anti-Asian racial discrimination during COVID-19: A call for action

2020 ◽  
pp. 002087282097061
Author(s):  
Qin Gao ◽  
Xiaofang Liu
Keyword(s):  
United States ◽  
Social Media ◽  
Racial Discrimination ◽  
Asian Americans ◽  
Well Being ◽  
Political Rhetoric ◽  
The United States ◽  
Psychological Well Being ◽  
Negative Impacts

Racial discrimination against people of Chinese and other Asian ethnicities has risen sharply in number and severity globally amid the COVID-19 pandemic. This rise has been especially rapid and severe in the United States, fueled by xenophobic political rhetoric and racist language on social media. It has endangered the lives of many Asian Americans and is likely to have long-term negative impacts on the economic, social, physical, and psychological well-being of Asian Americans. This essay reviews the prevalence and consequences of anti-Asian racial discrimination during COVID-19 and calls for actions in practice, policy, and research to stand against it.

scholarly journals Effects of COVID-19 on College Students’ Mental Health in the United States: Interview Survey Study (Preprint)

2020 ◽  
Author(s):  
Changwon Son ◽  
Sudeep Hegde ◽  
Alec Smith ◽  
Xiaomei Wang ◽  
Farzan Sasangohar
Keyword(s):  
Mental Health ◽  
Higher Education ◽  
United States ◽  
College Students ◽  
Multiple Stressors ◽  
Well Being ◽  
The United States ◽  
Survey Study ◽  
Positive Coping ◽  
Negative Impacts

BACKGROUND Student mental health in higher education has been an increasing concern. The COVID-19 pandemic situation has brought this vulnerable population into renewed focus. OBJECTIVE Our study aims to conduct a timely assessment of the effects of the COVID-19 pandemic on the mental health of college students. METHODS We conducted interview surveys with 195 students at a large public university in the United States to understand the effects of the pandemic on their mental health and well-being. The data were analyzed through quantitative and qualitative methods. RESULTS Of the 195 students, 138 (71%) indicated increased stress and anxiety due to the COVID-19 outbreak. Multiple stressors were identified that contributed to the increased levels of stress, anxiety, and depressive thoughts among students. These included fear and worry about their own health and of their loved ones (177/195, 91% reported negative impacts of the pandemic), difficulty in concentrating (173/195, 89%), disruptions to sleeping patterns (168/195, 86%), decreased social interactions due to physical distancing (167/195, 86%), and increased concerns on academic performance (159/195, 82%). To cope with stress and anxiety, participants have sought support from others and helped themselves by adopting either negative or positive coping mechanisms. CONCLUSIONS Due to the long-lasting pandemic situation and onerous measures such as lockdown and stay-at-home orders, the COVID-19 pandemic brings negative impacts on higher education. The findings of our study highlight the urgent need to develop interventions and preventive strategies to address the mental health of college students.

scholarly journals Relating Union Density to Wealth Inequality and Subjective Well-Being Across 13 OECD Countries

2021 ◽  
Vol 23 ◽  
Author(s):  
Erik Alexander Meurrens
Keyword(s):  
Regression Analysis ◽  
Wage Inequality ◽  
Labor Union ◽  
Correlation Coefficients ◽  
Wealth Inequality ◽  
Well Being ◽  
Union Density ◽  
The United States ◽  
Subjective Well Being ◽  
Strong Negative Correlation

Since the 1980s, the labor union density has gradually declined across member countries of the Organization for Economic Co-operation and Development (OECD), indicating a lowering percentage of employees represented by unions. In the United States, the declining union density has been shown to have an impact on wealth inequality, which has increased correspondingly. With a lack of representation by labor unions, workers are less secure in their jobs, which could cause a reduction in job satisfaction and an increase in stress. Therefore, a declining union density can also influence the subjective well-being of an impacted group. The aim of this research was to identify and investigate the potential relationships between union density and wage inequality and union density and subjective well-being across thirteen countries through regression analysis. The thirteen countries selected were all developed, industrialized democracies and members of the OECD. Simple linear regressions were made using the most recent national data for union density, wealth inequality, and subjective well-being. Regression analysis was performed on the most recent data points of the countries as a group, and for each country individually over a period of time. There was a moderate-strong, negative correlation (R = - 0.608) for the regression of wealth inequality versus union density, yet inconsistent correlation coefficients between countries individually. There was a moderate-weak, positive correlation (R = 0.353) for the regression of subjective well-being versus union density, with more consistent correlation coefficients between countries individually.

scholarly journals 2020 Stimulus Coronavirus Aid, Relief and Economic Security Act: Comparative Analysis of President Roosevelt’s New Deal Programs and President Obama’s American Recovery and Reinvestment Act of 2009

2020 ◽  
Vol 11 (1(S)) ◽  
pp. 19-26
Author(s):  
Gbolahan Solomon Osho ◽  
Michael Adams ◽  
Quonna Coleman ◽  
Matthew Uwakonye
Keyword(s):  
United States ◽  
Great Depression ◽  
New Deal ◽  
The United States ◽  
Barack Obama ◽  
Economic Security ◽  
Economic Damage ◽  
National Debt ◽  
President Obama ◽  
The New Deal

America is facing an economic disaster and is in need of federal relief to remain leading nation. Is America currently facing another Great Depression? In the 1930s the United States suffered from an economy downturn; the stock market crashed, spending declined, there was a drop in production, jobs were lost, bills went unpaid, and the market for produce reduced. President Franklin D. Roosevelt implemented the New Deal Programs to recover the economic damage of the United States. President Barack Obama inherited a stressed economy from former President George W. Bush with a national debt of $10.627 trillion. As President Roosevelt once did, President Obama is now working toward a plan to recover the damaged United States economy? The uncontainable depression later referred to as the Great Depression attacked the economy of the United States. In 2007 the United States began to take an economy downtown again. President Franklin D. Roosevelt implemented the New Deal Programs to recover the economic damage of the United States. President Barack Obama inherited a stressed economy from former President George W. Bush with a national debt of $10.627 trillion.

scholarly journals Universal Baby Bonds Reduce Black-White Wealth Inequality, Progressively Raise Net Worth of All Young Adults

2019 ◽  
Vol 47 (1) ◽  
pp. 3-19 ◽  
Author(s):  
Naomi Zewde
Keyword(s):  
Young Adults ◽  
Panel Study ◽  
Wealth Inequality ◽  
The United States ◽  
Household Wealth ◽  
Racial Inequalities ◽  
Net Worth ◽  
Distribution Of Wealth ◽  
Wealth Inequalities ◽  
Racial Lines

The distribution of wealth has grown increasingly unequal, especially along racial lines. Lawmakers and researchers propose to address the issue with universal “baby bonds,” paid to every newborn and preserved until young adulthood. Bond values are tied inversely to wealth up to a $50,000 maximum investment. This study uses longitudinal data from the Panel Study of Income Dynamics on the assets of young adults to simulate contemporary racial inequalities under a counterfactual policy environment in which the United States had administered baby bonds when the current cohort of young adults were newborns. Initial bond values are defined categorically by quintiles of household wealth observed in 1989 and 1994, smoothed across the inverse hyperbolic sine of household wealth, and then assumed to grow at 2% per year through 2015. Without baby bonds, young White Americans hold approximately 16 times the wealth of young Black Americans at the median ($46,000 vs. $2,900). Baby bonds reduce the disparity to a factor of 1.4 ($79,143 vs. $57,845), in the absence of intervening behavioral responses to the policy. The share held by the top decile decreases from 72% to 65%, marginally approaching the more egalitarian societies. Baby bonds considerably narrow wealth inequalities while simultaneously improving the net asset position of young adults and alleviating asset concentration.

scholarly journals COVID-19 pandemic-related changes in wellness behavior among older Americans

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Elgloria Harrison ◽  
Lillie Monroe-Lord ◽  
Andrew D. Carson ◽  
Anne Marie Jean-Baptiste ◽  
Janet Phoenix ◽  
...  
Keyword(s):  
Quality Of Life ◽  
Physical Activity ◽  
Older Adults ◽  
Food Security ◽  
Well Being ◽  
The United States ◽  
Negative Impacts ◽  
The Impact ◽  
Health And Well Being

Abstract Background COVID-19 has taken its toll on citizens in all 50 states of the United States. The United States (U.S.) leads the world with 30,291,863 confirmed reported cases and 549,664 deaths as of March 29, 2021 compared to globally confirmed cases at 127,442,926 and 2,787,915 deaths as of March 29, 2021. The U.S. federal government primarily left the response to the virus to individual states, and each implemented varying measures designed to protect health of citizens and the state’s economic well-being. Unintended consequences of the virus and measures to stop its spread may include decreased physical activity and exercise, shifting access and consumption of food, and lower quality-of-life. Therefore, our primary goal was to quantify the impact of COVID-19 on health and well-being by measuring changes in physical activity, mental health-quality of life, food security and nutrition in adults ages 40 and older. We believed shifts in health behaviors would be more prevalent in minorities, less educated, lower socio-economic status, older adults, and those with underlying health conditions, so a secondary goal was to determine the impact of COVID-19 on these sub-populations. Methods We conducted an online survey with 9969 adults 40 years and older between 9 August and 15 September 2020 in urban areas across the four U.S. census regions. The survey included questions about demographic variables, pre-existing health conditions, physical activity, access to food, quality-of-life, and nutritional food status and asked participants to respond with information from pre-pandemic and pandemic conditions. We used paired-sample t-tests to detect changes in variables after the start of the pandemic and Cohen’s d to determine effect sizes. Results Our main findings showed a decrease in physical activity since the onset of COVID-19 for minorities and non-minorities. Food security also slightly increased for minorities during the pandemic, but we found no other changes in food security, quality-of-life indicators, or nutritional status of those who responded to this survey. Conclusions It is concerning that physical activity declined. Such activity helps maintain physical and mental health, and it is also an important time to socialize for many older adults. In many ways, our data indicate that the older adult population in U.S. cities may be more resilient than expected during the pandemic. However, the pandemic could have negative impacts that we did not detect, either due to the survey instrument or the timing of our survey, so the health and well-being of older adults should continue to be monitored in order to mitigate potential negative impacts.

scholarly journals Effects of COVID-19 on College Students’ Mental Health in the United States: Interview Survey Study

10.2196/21279 ◽  
2020 ◽  
Vol 22 (9) ◽  
pp. e21279 ◽  
Author(s):  
Changwon Son ◽  
Sudeep Hegde ◽  
Alec Smith ◽  
Xiaomei Wang ◽  
Farzan Sasangohar
Keyword(s):  
Mental Health ◽  
Higher Education ◽  
United States ◽  
College Students ◽  
Multiple Stressors ◽  
Well Being ◽  
The United States ◽  
Survey Study ◽  
Positive Coping ◽  
Negative Impacts

Background Student mental health in higher education has been an increasing concern. The COVID-19 pandemic situation has brought this vulnerable population into renewed focus. Objective Our study aims to conduct a timely assessment of the effects of the COVID-19 pandemic on the mental health of college students. Methods We conducted interview surveys with 195 students at a large public university in the United States to understand the effects of the pandemic on their mental health and well-being. The data were analyzed through quantitative and qualitative methods. Results Of the 195 students, 138 (71%) indicated increased stress and anxiety due to the COVID-19 outbreak. Multiple stressors were identified that contributed to the increased levels of stress, anxiety, and depressive thoughts among students. These included fear and worry about their own health and of their loved ones (177/195, 91% reported negative impacts of the pandemic), difficulty in concentrating (173/195, 89%), disruptions to sleeping patterns (168/195, 86%), decreased social interactions due to physical distancing (167/195, 86%), and increased concerns on academic performance (159/195, 82%). To cope with stress and anxiety, participants have sought support from others and helped themselves by adopting either negative or positive coping mechanisms. Conclusions Due to the long-lasting pandemic situation and onerous measures such as lockdown and stay-at-home orders, the COVID-19 pandemic brings negative impacts on higher education. The findings of our study highlight the urgent need to develop interventions and preventive strategies to address the mental health of college students.

scholarly journals The Household Financial Losses Triggered by an Immigration Arrest, and How State and Local Government Can Most Effectively Protect Their Constituents

2020 ◽  
Vol 8 (4) ◽  
pp. 301-317
Author(s):  
Geoffrey Alan Boyce ◽  
Sarah Launius
Keyword(s):  
Local Government ◽  
Wealth Inequality ◽  
Well Being ◽  
The United States ◽  
Economic Security ◽  
Court System ◽  
Immigration Reform ◽  
Housing Security ◽  
State And Local Government ◽  
State And Local

Through a survey of 125 long-term resident households in Pima County, Arizona, this study finds that an immigration arrest costs each household an average of more than $24,000. These costs accumulate through the value of assets seized and not recovered, out-of-pocket costs for hiring an attorney, immigration bond, and other expenses involved in supporting an immediate family member as they navigate the immigration court system. But they also include lost income due to disruptions to employment resulting from the arrest, and a physical inability to work while in detention, appearing in court, and immediately following deportation. In this article, we discuss how, when measured at the scale of the household, these financial costs fail to discriminate according to immigration or citizenship status, and accumulate to affect issues of poverty, education, housing security, health and development, and generational wealth inequality — all matters of sustained interest to state and local government. In the second half of the article, we draw on our research findings to evaluate various policies that states, counties, and municipalities can implement to mitigate these financial burdens while promoting the overall well-being of their constituents. Policies considered include: The “Immigrant Welcoming City” paradigm The limitation of routine cooperation and custody transfer between local and federal law enforcement Expanding access to permissible forms of identification Universal representation for immigration defendants The cultivation of community bond funds The promotion of worker-owned cooperatives Although these kinds of state or local initiatives cannot replace meaningful federal action on immigration reform, they can do much to provide relief and promote economic security for established immigrant and mixed-status families living in the United States, while contributing to overall community well-being and economic vitality.

scholarly journals The Experience of Teleworking with Dogs and Cats in the United States during COVID-19

Animals ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 268
Author(s):  
Christy L. Hoffman
Keyword(s):  
United States ◽  
Online Survey ◽  
Companion Animals ◽  
Well Being ◽  
The United States ◽  
The Novel ◽  
Pet Ownership ◽  
Working From Home ◽  
Negative Impacts ◽  
Novel Coronavirus

In Spring of 2020, the novel coronavirus (SAR-CoV-2) prompted an unprecedented number of individuals across the United States to begin working from home. Prior research has identified both positive and negative impacts of teleworking on employee well-being, and this study built on that research to explore perceptions regarding how companion animals factor into the teleworking experience. Individuals who had experience working from home and from their employer’s office completed an online survey about those experiences. Participants reported spending more quality time with their companion animals and family members when they worked from home. Furthermore, when working from home, individuals with dogs were more likely than those without dogs to report they socialized with other people, got a healthy amount of physical activity, and took at least one 15-min walk during the workday. Some participants, particularly those in households containing both dogs and cats, indicated that their pets created distractions during the workday. Future studies can build on this research by investigating whether the findings persist once the novel coronavirus is no longer a threat, and by paying close attention to the characteristics of pets, owners, and household dynamics that may influence the effects of pet ownership on the teleworking experience.

Sign in / Sign up

Export Citation Format

Share Document