“The way to make a train go fast is to keep it from going slow.”
July 29th, 2014 at 2:59 pm
That bit of Zen was told to me by one of the nation’s foremost rail experts back when I worked on that issue. He was explaining that part of developing a high-speed rail system entails straightening out existing curves in the track. But to me, it’s become a metaphor for the importance of financial market oversight.
It is way too common in this town to run into people who think that poor people are poor because they don’t work. Influential Congressman Paul Ryan has referred to safety net benefits as “a hammock” that create “poverty trap” and a culture of non-work, a rap as old as poverty itself. Various critics of poverty programs argue that their benefit structure dis-incentivizes work and are increasingly calling for more work requirements.
I needed to look into the numbers of working poor persons for a project I’m doing and I found the results kind of interesting (h/t: AS and DT). I suspect everyone brings different priors to this question, but some might be surprised by these results. Continue reading Labor Supply and the Poor: Some Facts That Might (or Might Not) Surprise You | Jared Bernstein | On the Economy
