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Opportunity for Growth

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Opportunity for Growth

How reducing barriers to economic inclusion can benefit workers, firms, and local economies

Brookings Institution,

5 min read
5 take-aways
Audio & text

What's inside?

Income inequality is a social issue that also has broad implications for local economies.

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Editorial Rating

8

Qualities

  • Eye Opening
  • Concrete Examples

Recommendation

This incisive study from public policy expert Joseph Parilla highlights how a relatively narrow slice of the US population reaps the rewards of the nation’s economic growth and prosperity, while the majority of the middle class gets left behind. Parilla argues that inaction at the federal level is leaving state and local governments responsible for promoting inclusive growth. getAbstract recommends this thought-provoking report to entrepreneurs, executives, and state, local, and community leaders.

Summary

Half of all American workers have seen no income growth, prior to taxes and transfers, since 1980. Only 50% of children born in 1980 earned more at the age of 30 than their parents did, compared to 90% of those born in 1940. A number of changes, including low foreign labor costs and productivity improvements from technology, are fueling the trend toward growing income inequality. Minorities, who make up more than 45% of Americans under the age of 18, have not acquired the skills necessary to become upwardly mobile. State and local governments have a vested interest in reducing income ...

About the Author

Joseph Parilla is a fellow at the Metropolitan Policy Program at the Brookings Institution.

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