The Economics of Inequality: Past, Present, and Future
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Lee Huang discusses the need for a balance between the necessity for higher education with the ability to have access to it in an affordable manner.
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The Economics of Inequality: Past, Present, and Future
- 1. The Economics of Inequality: Past, Present, and Future LEE HUANG Econsult Solutions, Inc.
- 2. About ESI
- 3. Erosion of Middle Class = Growing Divide Between Haves and Have Nots
- 4. America’s 3rd Economic Era
- 5. Does Your Zip Code Determine Your Destiny?
- 6. The Growing Importance of a Diploma = The Growing Importance of Tuition Affordability
- 7. Innovation Matters, and Where/How It Happens Has Changed
- 8. Innovation Requires Inclusion, Part I
- 9. Innovation Requires Inclusion, Part II
- 10. Innovation Requires Inclusion, Part III
- 11. The Opportunity of a Lifetime for Higher Ed
Editor's Notes
- We are an economic consulting firm that among other things helps universities tell their economic and social impact story.
- Automation/suburbanization/globalization of manufacturing = fewer middle class jobs in urban centers. According to the BSL seasonally adjusted employment numbers, employment in the US manufacturing sector hit a peak of 19,553,000 in June 1979. In April 2015, there were only 12,322,000 employed in the manufacturing sector. That is a decline of 37%. Photo: Flickr Information: CNSNews.com, Terence P. Jeffrey
- We’ve always had inequality and actually it was harder to overcome before…but Photo (left to right): Pixabay, Arc Welding Services Ltd., PharmaTimes
- Since we are preparing our kids for this knowledge economy, where you live matters even more, creating more of a divide. In a study released by Princeton University, it was discovered that lifetime earnings are roughly $900,000 higher for those who grow up in the richest 20% of neighborhoods than for those who grow up in the bottom 20%. This effect creates a difference nearly as large as that between a college and high school graduate. Photo (left to right): iliketowastemytime.com, HGTV.com Information: CityLab, Richard Florida
- Since the wage premium for higher education has grown so much, tuition has gone up at a time when affordability is needed for equity. The census Bureau estimates that the wage gap between high school and college grads is roughly $1 million dollars in lifetime earnings. The New York Federal Reserve found that student loan debt has grown by 511% since 1999. There is currently $1.44 trillion in total US student loan debt, and 44.2 million Americans with student loan debt. Photo: Wall Street Journal Information: U.S. Census Bureau, StudentLoanHero.com
- Suburban, corporate, set-apart vs. urban, anchored, intertwined “Richard Florida zip code analysis of venture capital suggests shift from suburban locations to urban and close-in suburban locations – now more than half of the VC money in 7 out of 13 metro areas.” Photo (left to right): Fortune.com, ImageDigital
- Place matters, and people want authentic places which means real diversity/inclusion/access. Photo: Delaware Business Times
- The myth of the singular “a-ha” entrepreneur vs. the importance of collaboration/iteration (and therefore you can’t systematically leave out entire groups). Photo: National Cancer Institute
- What your customers want is to prepare to do good and to do well, once a foreign concept and now so mainstream that there is no other way. Photo: Pixabay
- You have the place, the intellectual infrastructure, and the raw human talent to shape and mold; and you sit at the physical intersection of the issues. Photo: UChicago News