If you are interested in the prospects for redevelopment of Atlantic City following the economic decline that began in 2008 and the closing of casinos in the shore city, you might want to read Oliver Cooke’s (Associate Professor of Economics, Stockton University) article in the recent issue of the South Jersey Economic Review. In that article, he provides history and looks ahead, modeling his analysis on the economic state of locations with similar demographics and employment trends.
Archinect just published a review of a new museum, referred to as the White Cube, located on a former plantation in Congo. The review, titled “The OMA-Designed Lusanga International Research Centre on Art and Economic Inequality Aims to Expose and Redress Economic Inequalities,” appeared March 31, 2017 and is written by Nicholas Korody.
This museum is 100% dedicated to “the transformation of former plantation spaces into areas for artistic critique, beauty, and ecological diversity, through funneling art world capital back to the plantations it was originally extracted from — to create, in other words, a post-plantation.”
White Cube, credit: OMA
“Plugged into international networks, the White Cube will focus at once on exposing worldwide inequalities and generating a new and inclusive economic and ecological model to redress them,” states the press release.
If you don’t know anything about economics, but want to learn, you might watch Crash Course Economics videos. Click here for the full roster of 7-12 minute lessons.
In the article “Bridging the Urban-Rural Divide in Massachusetts,” Lawrence S. DiCara and Matt Waskiewicz argue that looking at the economic well-being of regions can help to decrease inequality. Their study focused on Boston and its surroundings; however, it has broader applicability to any part of the country with suburban and rural areas that provide the workforce for urban areas, or that otherwise support the economy of urban areas.
The authors describe their perspective as a “framework for urban-rural mutualism,” which means that the health of an entire region depends on the economic viability of all areas that serve and are served by that region.
To address regional economic inequality, DiCara and Waskiewicz propose investing in health, building more housing and more affordable housing, and reforming transit systems. In addition, they advocate that urban areas purchase goods and services produced in the region before reaching out to other parts of the country or the globe.
Canada will test universal basic income in Ontario this year. Jeffrey Sachs, an economist and Professor at Columbia University, explains the pros and cons of such a policy. Listen to him here.
You might think that the increasing price tag to attend a public college or university in NJ results from rising salaries for professors or growing ranks of administrators. A recent article, written by a Stockton alum, suggests that a larger share of responsibility might rest with the state’s funding formula for public colleges and universities. Click here to read her perspective.
Watch President Obama’s farewell address, or read the transcript: click here.
NOTE: President Obama emphasizes the threat economic inequality poses for democracy.
There have been moments throughout our history that threatens that solidarity. And the beginning of this century has been one of those times. A shrinking world, growing inequality; demographic change and the specter of terrorism — these forces haven’t just tested our security and our prosperity, but are testing our democracy, as well. And how we meet these challenges to our democracy will determine our ability to educate our kids, and create good jobs, and protect our homeland. In other words, it will determine our future.
And he adds:
But for all the real progress that we’ve made, we know it’s not enough. Our economy doesn’t work as well or grow as fast when a few prosper at the expense of a growing middle class and ladders for folks who want to get into the middle class. (Applause.) That’s the economic argument. But stark inequality is also corrosive to our democratic ideal. While the top one percent has amassed a bigger share of wealth and income, too many families, in inner cities and in rural counties, have been left behind — the laid-off factory worker; the waitress or health care worker who’s just barely getting by and struggling to pay the bills — convinced that the game is fixed against them, that their government only serves the interests of the powerful — that’s a recipe for more cynicism and polarization in our politics.