This paper explores how economic development facilitates the creation of interest groups that seek to improve their “capabilities” that, as Amartya Sen has explained, can enhance human freedom. Mancur Olson's work shows that long periods of political stability can foster “distributive...

This paper explores the sources of income inequality among households aged 65 and older and the extent to which individual actions, competitive markets, and public policy can improve the financial well-being of those with low income. Three different types of retirement wealth are identified on...

Objective: This article examines the role Social Security plays in alleviating poverty among retirees in the context of threats to its solvency. Method: Examining long-term employment trends, declining access to defined benefit pensions and saving behavior can determine if in the more future...

Income inequality is exacerbated by labor market trends that increase the demand for high skill occupations and those in low skill service occupations. This hollowing out of the middle of the income distribution means that an increasing portion of households will be less prepared for retirement...

Income households’ share of national income has grown dramatically since 1970 while the bottom 80 percent has seen their share decline. This paper examines economic, social, and demographic changes that almost assure that the income would be increasingly concentrated at the top. Occupations...

Births to unmarried women have increased 10-fold, from about four percent in 1960 to 40 percent in 2018. Apart from teenagers, women of every age, race and ethnic group, and education level have contributed to this trend. A substantial literature reveals that children raised in two parent...

It seems that America names a Tsar whenever we decide to focus on a policy problem, as though that title is associated with effective policies which are well administered. The appointment of a drug Tsar, the implicit policies that are associated with the War on Drugs, and the political...

About 70 percent of mutual fund assets are in managed funds. These funds seek to earn an above average return for investors but, because of the up-front loads, fees and other costs, they generally earn less than the low cost index funds that only seek to get a return equal to that of the stock...

This article argues that key aspects of drug policy, such as decisions about which substances to forbid and choices between incarceration and treatment of drug offenders, should devolve to state and local governments. It is contended that current policy is largely ineffective and may actually...

Saving Social Security usually means maintaining current benefits that will be cut by about 20 percent in 2035 if taxes dedicated to the program are not increased. Almost one-third of households 65 and older get more than 75 percent of their income from Social Security. This essay argues that...