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The Trouble with Pay It Forward, Pay It Back (The GC Advocate)
Roosevelt Institute Fellow Mike Konczal argues against the pay it forward model of higher education funding that Oregon will soon attempt. He would greatly prefer using government to drive down the cost of tuition at public schools – and hopefully private institutions would follow.
Statistics: The Real Lost Generation (Truthdig)
Alexander Reed Kelly takes a look at the data in Roosevelt Institute Senior Fellow Jeff Madrick’s recent column for Harper’s Magazine on youth who are neither in school nor employed, or “opportunity youth.” The numbers are scary, but government isn’t taking any action.
- Roosevelt Take: Read Jeff’s column, “The Real Lost Generation,” here.
H&M to Pay All Textile Workers Living Wage by 2018 (Epoch Times)
Catherine Yang reports on the clothing retailer’s announcement, which they said will not impact prices. H&M’s statement explicitly tied the size of the company to its responsibility to be a leader in pushing for living wages worldwide.
Bank Deal Ends Flawed Reviews of Foreclosures (NYT)
Jessica Silver-Greenberg reports on a settlement deal that is taking the place of real reviews of foreclosures. This solution is obviously faster and easier for the banks and the government, but it doesn’t do much of anything for people who were harmed by the banks.
Aging Americans Have a New Companion: Higher Debt (Reuters)
Helaine Olen explains how social and economic changes have led to a major increase in the amount of debt held by Americans over 50. The trouble is, as Americans age, it’s harder and harder to retain work to pay off that debt.
Here’s Why Wall Street has a Hard Time Being Ethical (The Guardian)
In light of a new report which states that financial services professionals see ethical standards as an impediment to advancement in their workplaces, Chris Arnade explains how ethics and compliance standards were uphold during his Wall Street career.
New on Next New Deal
Roosevelt Institute Fellow Andrea Flynn looks at a new report from the Center for Reproductive Rights and the National Latina Institute for Reproductive Health, which shows just how badly new laws are harming the women of the Rio Grande Valley.