For those who are dismayed at the depth of political and economic division in the United States today, Harvard University economics professor Claudia Goldin has a simple reminder: there is nothing new under the sun.
"Deep political divisions arose in the past ... particularly in periods of rising and high income and wealth inequality," Goldin says in an interview with F&D. She fondly cites the prediction that an income tax would be the beginning of "a war of the poor against the rich," made by Associate Justice Stephen Field as the Supreme Court struck down the 1894 income tax law. (The 16th Amendment in 1913 cleared the way for today’s income tax.)
The 72-year-old economic historian, labor economist, and gender expert draws lessons from the past to better understand the present. In a career spanning more than four decades, Goldin has studied the economic effects of technological change, inequality, education, water pollution, and corruption. She is best known for her research and insights into the role of women in the US economy and for developing a sophisticated, nuanced understanding of the reasons for the well-documented gender pay gap...
As the world seeks to address the rise of populism and nationalism, it is becoming clear that economic insecurity lies at the heart of much of the discontent. The latest issue of Finance & Development magazine, produced in partnership with the London School of Economics and Political Science, explores the need to rethink the social contract—including how society looks after the old, the young, the infirm, and those who have fallen on hard times—to create a greater sense of security in our globalized and fast-changing economy.
Our March 2019 issue of F&D will showcase the latest economic thinking and evidence to further advance the global push for gender equality and the advancement of women in society. Stay tuned!
Finance & Development, the IMF's quarterly print magazine and online editorial platform, publishes cutting-edge analysis and insight on the latest trends and research in international finance, economics, and development. F&D is published quarterly in English, Arabic, Chinese, French, Russian, and Spanish, and is written by both IMF staff and prominent international experts. F&D is read by leading policymakers, academics, economic practitioners, and development professionals around the world.
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