CERF Blog

A common refrain about economic policy and performance in the United States over the past thirty years is that inequality is rising and the middle class is disappearing.  The implication of the latter claim is that people are falling out of the middle class into the lower income class.  Of course, if you define “middle… Read more

A major event in the financial markets last month was the initial public offering of FaceBook (ticker symbol FB).  Despite the subsequent decline in price, the financial press reported that this IPO “instantly” created many new millionaires and billionaires.  By doing so, the IPO has worsened economic inequality in the U.S.  This is because inequality… Read more