Ca labfed

We’re In This Together Jared Bernstein Center on Budget and Policy PrioritiesPresentation to CA Labor Federation Unemployed in America: Causes, Consequences, Solutions 3/14/12 bernstein@cbpp.org

Source: Inclusive Fitness in Evolution, Ferriere and Michod, 2011.

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!

The Lower Your Income, the More Full Employment Helps You

Dependent Var: Change in State Unemp Rates Coef t-stat R-SqNeg Eq Sh 0.10 6.33 0.49Union Cov 0.00 0.03 0.49

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 andeducation• Opportunity for all!

Dif=0.45 Dif=0.31From Baily, Dynarski, Chapter 6, Whither Opportunity 12

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

Ca labfed

by jaredbernstein on Mar 14, 2012

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