Category Archives: Pavlina R. Tcherneva

Inequality Update: Who Gains When Income Grows?

By Pavlina R. Tcherneva
Bard College

Growth in the US increasingly brings income inequality.  A striking deterioration in this trend has occurred since the 80s, when economic recoveries delivered the vast majority of income growth to the wealthiest US households.  This note updates my original inequality chart (reproduced below) with the latest data. For earlier discussions, see e.g., here, here, and here.

Figure 1: bottom 90% vs. top 10%, 1949-2012 expansions (incl. capital gains)

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THE ECONOMIC CONSEQUENCES OF DONALD TRUMP

Pavlina R. Tcherneva

Economic consequences

A lot has been said already. For me, this was the culmination of a decades-long process where the Democrats sold out their progressive agenda and happily embraced the Republican’s neoliberal economic policies. For some of the best analysis, see here, here, here and here.

My own view is that the Democrats have not had an economic policy of their own for nearly half a century, just an ‘inferior’ version of what Republicans usually champion—tax cuts on the wealthy, dismantling the public safety-net, ‘fighting’ inflation by creating unemployment, market liberalization and deregulation across the board, which among other things brought us a colossal financial sector that has cannibalized the productive economy.

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Fiscal Feminism: Pavlina R. Tcherneva

NEP’s Pavlina Tcherneva appears on the Laura Flanders Show. Pavlina says the current practice of gender-blind and race-blind fiscal policy lacks visions and helps no one. Congress, according to Pavlina is focusing on the wrong things. A self ascribed feminist economist, Pavlina says feminist fiscal policy is real, not simply ideological, and should be a central part of the American economy. We’ll encourage growth, she says, by creating employment — not the opposite. And employment begins with targeting women and racial minorities as the benefactors of policy.

NEP’s Pavlina Tcherneva on RT’s Boom and Bust

NEP’s Pavlina Tcherneva appears on RT’s Boom and Bust with Ameera David and continues her conversation with RT-TV explaining how the Job Guarantee program delivers the economic benefits that the Basic Income proposal only promises. She appears at 12 min and 55 seconds. 

An Argument Against Basic Income

NEP’s Pavlina Tcherneva speaks with Bloomberg’s Joe Weisenthal about Basic Income Guarantees. You can view the segment here.

A Global Marshall Plan for Joblessness?

By Pavlina Tcherneva
(Crossposted from INet)

Global unemployment is expected to surpass 200 million people for the first time on record by the end of 2017, according a recent ILO study, and limitations of official statistics suggest that the problem is much larger . As conventional measures increasingly fail to produce tight labor markets and jobless recoveries become the norm, economists grapple with this new reality by calling it secular stagnation and by adjusting upwards the rates of unemployment deemed ‘natural’ — but the human, social and economic costs of this growing problem are rarely considered in economic modeling.

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Why Bernie Sanders Should Add a Job Guarantee to His Policy Agenda

By Pavlina R. Tcherneva

Discussions of the ‘politically possible’ always remind me of a favorite quote: “Argue for your limitations, and sure enough they’re yours.”

Bernie Sanders’ issues page reads like a list of everything we’ve been told is not politically possible.  And yet he’s getting record breaking support, precisely because people are tired of being told that something cannot be done–that it is impossible to get money out of politics, or that tackling inequality and racial injustice is unrealistic, or that securing a living wage is a political nonstarter.

Bernie has unapologetically rejected sclerotic visions of what is ‘politically possible’.  And now he should add the Job Guarantee (JG) to his list of issues. Indeed, he already has the key ingredients—a bold proposal to eliminate unemployment by creating 13 million decent-paying jobs, a living wage, and a federally-funded youth job guarantee, which Sandy Darity correctly called a stepping stone (a pilot program) to a blanket job guarantee for all.

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It Simply Cannot Work

Pavlina Tcherneva discusses Greece’s Bailout with Richard Aldous on American Interest. You can listen here. She describes a deal that seems to contain more austerity than was initially proposed, and calls some of its economic incentives perverse. She discusses why the economic situation in Greece today is in some ways worse than was America’s Great Depression, and compares the decision to bail out Greece to Ireland’s austerity experience.

NEP’s Pavlina Tchernerva on RT discussing Greece

Pavlina appears on RT’s Boom Bust segment discussing Greece and austerity. She appears starting at 18 minutes.

Greek debt disaster bodes ill for daily life

By Pavlina Tcherneva
Cross posted from Al Jazeera

“There are red lines in the sand that will not be crossed,” Greek Prime Minister Alexis Tsipras said just weeks ago as he began the long negotiations process with creditors.

Some of these lines included no more pension cuts or value-added tax (VAT) increases, and a debt restructuring deal that incorporates renewed economic assistance from Europe. Tsipras has been working to complete the previous government’s austerity commitments, without any guarantee of a meaningful debt reprieve in the future.

Yet on Monday, he crossed his own previous red lines and offered a round of fresh austerity measures worth 7.9 billion euros ($8.9 billion) — the largest to date — which in turn prompted mass protests at home.

Crafted by the Greeks, an agreement seemed close at hand, but was nevertheless rejected by the International Monetary Fund and Greece’s euro partners at the European Commission and European Central Bank. The fiscal tightening that is currently being discussed is on the order of 2 to 3 percent of gross domestic product (GDP), comparable to that at the peak of the crisis in 2010.

Read the rest of the post here.