Over the past three decades, most of the income growth has been concentrated at the top, while income inequality continues to increase, according to The New York Times:
“Adam Smith, the father of modern economics, was a professor of moral philosophy at the University of Glasgow. His first book, “A Theory of Moral Sentiments,” was published more than 25 years before his celebrated “Wealth of Nations,” which was itself peppered with trenchant moral analysis.
“Some moral philosophers address inequality by invoking principles of justice and fairness. But because they have been unable to forge broad agreement about what these abstract principles mean in practice, they’ve made little progress. The more pragmatic cost-benefit approach favored by Smith has proved more fruitful, for it turns out that rising inequality has created enormous losses and few gains, even for its ostensible beneficiaries.
“Recent research on psychological well-being has taught us that beyond a certain point, across-the-board spending increases often do little more than raise the bar for what is considered enough. A C.E.O. may think he needs a 30,000-square-foot mansion, for example, just because each of his peers has one. Although they might all be just as happy in more modest dwellings, few would be willing to downsize on their own.”
Hispanic voters are poised to have a big effect on November’s elections, according to a new study by the National Association of Latino Elected and Appointed Officials covered in today’s Washington Post:
“About 6.5 million Hispanic voters will likely cast their ballots this year, according to the National Association of Latino Elected and Appointed Officials - nearly 1 million more than in the last midterm elections in 2006. The group derived its estimate by looking at the increase in Hispanic voter turnout in the past three congressional elections.
“The voting bloc could have an impact in close races from Texas to Colorado, said Arturo Vargas, executive director of the group.
“‘Never before have we had so many tight contests at the state and federal levels in states where the Latino vote can make a difference,’ he said. ‘I think it will make all the difference in 2010.’
“Vargas's group says that several elections could turn on the Latino vote, notably gubernatorial contests in California, Colorado, Florida, Nevada, New Mexico and Texas. Some of the Republican nominees are Hispanic: Brian Sandoval in Nevada and Susana Martinez in New Mexico.”
The recent outbreak of whooping cough across the nation demonstrates the need for vaccinations, according to USA Today:
“Recent outbreaks of whooping cough highlight the need for adults to be vaccinated against this highly contagious disease, U.S. health officials said.
“Not only does vaccination protect adults against the disease, it reduces the odds that they will pass on an illness that can be life-threatening to those most at risk: infants who haven't finished their full vaccination series, according to the U.S. Centers for Disease Control and Prevention (CDC).
“A whooping cough outbreak this year in California has already sickened more than 5,270 infants and killed nine, the agency reported. That rate of illness is the highest recorded in the state since 1955, according to the California Department of Public Health.
“The best way to protect yourself and the infants you come into contact from getting whooping cough — also known as pertussis — is the tetanus, diphtheria, and pertussis (Tdap) vaccine, the CDC advises.”
Community colleges in California are not graduating the majority of their students, and minority student numbers are even worse, according to a new study in today’s Los Angeles Times:
“Seventy percent of students seeking degrees at California's community colleges did not manage to attain them or transfer to four-year universities within six years, according to a new study that suggests that many two-year colleges are failing to prepare the state's future workforce.
“Conducted by the Institute for Higher Education Leadership & Policy at Cal State Sacramento, the report, released Tuesday, found that most students who failed to obtain a degree or transfer in six years eventually dropped out; only 15% were still enrolled.
“In addition, only about 40% of the 250,000 students the researchers tracked between 2003 and 2009 had earned at least 30 college credits, the minimum needed to provide an economic boost in jobs that require some college experience.
“There were also significant disparities in the outcomes of black and Latino students. Only 26% of black students and 22% of Latino students had completed a degree or certificate or transferred after six years, compared to 37% of whites and 35% of Asian Pacific Islanders.”