How would a massive federal spending program like a universal basic income (UBI) affect the macroeconomy? We use the Levy Institute macroeconometric model to estimate the impact of three versions of such an unconditional cash assistance program over an eight-year time horizon. Overall, we find that the economy can not only withstand large increases in

“Right now,” wrote Senator Chuck Schumer in a New York Times op-ed on Monday, “millions of unemployed or underemployed people, particularly those without a college degree, could be brought back into the labor force” with appropriate government policies. With this seemingly anodyne point, Schumer took sides in a debate that has sharply divided economists and policymakers: Is

Today’s dominant story, told by the Federal Reserve, the media, and many prominent economists, is that the economy has recovered from the recession and is growing about as fast as it can without overheating. This outlook has led the Fed to increase interest rates four times since December 2015, ending the historically low rates it

As every new parent knows or quickly finds out, children are expensive. With costs ranging from diapers to daycare, children can be a source of deep economic insecurity for low-income families, especially for women. President Trump’s childcare plan does nothing to alleviate the burdens of childcare on families across the country. The Dependent Care Savings

The tide of economic growth no longer lifts all boats. Half of Americans have seen no growth in their incomes since 1980. The government did very little to help those left behind the tide of rising economic inequality. Maybe it’s time to consider a fresh approach to creating economic opportunity – what if we all

“It’s everything related to jobs… shipyards, ironworks, get them all jacked up. We’re just going to throw it up against the wall and see if it sticks.” -Donald Trump Amid discussion of the Trump administration’s plans for bringing back manufacturing, we should not lose sight of one of the best opportunities for job creation: investing

American workers are facing a lack of power that has reached crisis levels. In addition to the decades long decline of unions, the expanded use of technology and outsourcing pose challenges from which contemporary labor law offers no shelter. This situation is poised to worsen in the near future, as Trump administration appointments to the

The growth of digitally mediated gig or “on-demand” work, such as driving for Uber or shopping for Instacart, has prompted a national conversation about how and when we work, how we are paid, and what obligations businesses and workers have to one another. The questions raised by on-demand work are, in fact, symptoms of much

Although research shows that diversity yields positive performance and returns in capital markets, minorities remain underrepresented in this industry. A new joint report from The ReFund America Project, Roosevelt Institute and Service Employees International Union finds opportunities for investment consultants to both promote minority asset managers and create long-term financial value for institutional investors. The

Some call it a “basic income.” Others call it a “guaranteed minimum income.” Whatever you call it, the idea of providing direct cash payments to citizens has come in and out of vogue for at least 60 years in the United States. In recent years, however, driven by declining job security and the stagnant pay of