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- 1. We’re In This Together Jared Bernstein Center on Budget and Policy Priorities Presentation to CA Labor Federation Unemployed in America: Causes, Consequences, Solutions 3/14/12 bernstein@cbpp.org
- 2. Source: Inclusive Fitness in Evolution, Ferriere and Michod, 2011.
- 3. Does This Map Onto Economic Policy? • Growing Together, Growing Apart • Do American Corporations need American Consumers? • Exports/Profits • Jobless Recoveries • Fiscal Policy, Public Infrastructure, Education • Political Dysfunction!
- 5. 5
- 6. The Lower Your Income, the More Full Employment Helps You
- 8. CA
- 9. Dependent Var: Change in State Unemp Rates Coef t-stat R-Sq Neg Eq Sh 0.10 6.33 0.49 Union Cov 0.00 0.03 0.49
- 10. How Do We Get Back on Track, 1? • Emphasize “Relatedness,” Not YOYO’ism • Implications: --insourcing --stronger fiscal positions (new revenue) --collective bargaining --full employment --commitment to public infrastructure and education • Opportunity for all!
- 12. Dif=0.45 Dif=0.31 From Baily, Dynarski, Chapter 6, Whither Opportunity 12
- 13. Back on Track, #2 • Campaign finance reform • Efficient gov’t sector (inefficient gov’t also reinforces cycle) • Clear-eyed look at what’s coming and how that relates to role of gov’t (demographics, climate, innovation, global connectedness) • Much more intensive research and outreach agenda re trickle down, deregulatory failures • Political dysfunction should scare people (debt ceiling) • Remember compromise? • Research is important but equally important is how we explain, disseminate it • Fairness, common sense, YOYOs vs WITTs 13