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The author Bradford DeLong
Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

Brad Delong, Berkeley

Weekend reading: Tax evasion in the United States edition

This is a post we publish each Friday with links to articles that touch on economic inequality and growth. The first section is a round-up of what Equitable Growth published this week and the second is relevant and interesting articles we’re highlighting from elsewhere. We won’t be the first to share these articles, but we hope by taking a look back at the whole week, we can put them in context. Equitable Growth round-up Tax Day 2021 is Monday, May 17. As many Americans prepare...

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The sources and size of tax evasion in the United States

Overview Tens of millions of Americans will duly pay the taxes they owe and file for their refunds by Tax Day in 2021, which was delayed until May 17. Meanwhile, some of the wealthiest Americans will engage in complicated tax evasion schemes that will cost the U.S. government $700 billion this year, according to U.S. Treasury Secretary Janet Yellen. Tax evasion has reached such heights that the Biden administration is proposing bold measures to crack down on rich tax cheats. And...

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The rising financialization of the U.S. economy harms workers and their families, threatening a strong recovery

A view of Goldman Sachs Tower, August 23, 2017, in Jersey City, New Jersey.Overview If you are an analyst following Wall Street, things are looking pretty bright these days. The S&P 500—an index of 500 major publicly traded companies in the United States and a benchmark for gauging the health of the U.S. corporate sector—is up more than 80 percent since its low in March 2020 during the onset of the global pandemic. Companies in the index have added $50 trillion worth of value...

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JOLTS Day Graphs: March 2021 Edition

Every month the U.S. Bureau of Labor Statistics releases data on hiring, firing, and other labor market flows from the Job Openings and Labor Turnover Survey, better known as JOLTS. Today, the BLS released the latest data for March 2021. This report doesn’t get as much attention as the monthly Employment Situation Report, but it contains useful information about the state of the U.S. labor market. Below are a few key graphs using data from the report. The quits...

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Brad DeLong: Worthy reads on equitable growth, May 4-10, 2021

Worthy reads from Equitable Growth: 1. The surprising and disappointing slow growth of U.S. employment between March and April underscores how sick the U.S. labor market still is. We need both better social support networks for those who want to return to work and higher wages in the jobs that people are going to be moving to in order to restore the health of the labor market. And, meanwhile, job displacement will not be without its substantial costs. We are still far from being...

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Weekend reading: Jobs and unemployment more than a year into the coronavirus recession edition

This is a post we publish each Friday with links to articles that touch on economic inequality and growth. The first section is a round-up of what Equitable Growth published this week and the second is relevant and interesting articles we’re highlighting from elsewhere. We won’t be the first to share these articles, but we hope by taking a look back at the whole week, we can put them in context. Equitable Growth round-up As the U.S. economy begins to show signs of recovery from...

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April Jobs report: Disappointing job gains mean the damage from the coronavirus recession may be long term, especially for young workers

The U.S. labor market delivered employment gains that were far below expectations last month. According to the Employment Situation Summary released this morning by the Bureau of Labor Statistics, between mid-March and mid-April the U.S. economy added only 266,000 non-farm payroll jobs, and the share of the population between the ages of 25 and 54 that is employed—a measure economists call the prime-age employment to population ratio—increased only slightly, from 76.8 percent in March...

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Equitable Growth’s Jobs Day Graphs: April 2021 Report Edition

On May 7, the U.S. Bureau of Labor Statistics released new data on the U.S. labor market during the month of April. Below are five graphs compiled by Equitable Growth staff highlighting important trends in the data. With fewer jobs added than expected in April, prime-age employment increased only slightly to 76.9 percent from 76.8 percent in March. Unemployment rates were little changed among most racial and ethnic groups and remain persistently high for Black and...

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The Merger Filing Fee Modernization Act is a down payment on the future of antitrust enforcement

The Senate Judiciary Committee is likely to approve a bipartisan antitrust bill soon that will be a down payment on reviving effective antitrust enforcement in the United States. The Merger Filing Fee Modernization Act of 2021, introduced by Sens. Amy Klobuchar (D-MN) and Charles Grassley (R-IA), would increase enforcement resources for the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice by more than $154 million, or almost 30 percent. It would...

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BRIEFLY NOTED: For 2021-05-05 We

First: Ian Leslie: Biden's Bet: ‘Biden... is... hinting at... “I think they’re going to write about this point in history… about whether or not democracy can function in the 21st century. Not a joke. Whether autocracy is the answe—these were my debates I’d have in the many times I met with Xi.”... Biden believes that technology and science are moving so fast that they pose an existential challenge to democracy itself. The consensus used to be that if China wanted to catch with the West it...

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