The March on Washington, where Dr. Martin Luther King delivered his “I Have a Dream” speech, was formally named the March on Washington for Jobs and Freedom. Dr. King later organized the Poor People’s Campaign as a multi-racial movement for economic justice, which advocated for living wages, income support for the unemployed, improved funding for education, the right to unionize for agricultural workers and access to land and capital. Dr. King’s legacy includes his efforts to secure both civil rights and economic justice.
Jan 10 2020
Dec 20 2019
For several months, the president had been selling the legislation on the claim that the tax cuts would “be rocket fuel for our economy.” His claim was critical to defending against the criticism that most of the tax cuts would go to corporations and the very wealthy—supposedly, the money would ‘trickle down’ to the middle class. Unfortunately, nearly two years of evidence show that his administration's estimates were wildly wrong.
Dec 13 2019
Dec 06 2019
Nov 22 2019
Nov 15 2019
Economists long have thought that the economy is at “full employment” at a rate of around five percent. Below that, employers would be forced to pay higher wages to attract and retain workers, which in turn would compel them to raise prices, sparking inflation. The theoretical trade-off between unemployment and inflation is what is known as the Phillips Curve.
However, while the current unemployment rate is extremely low at 3.6 percent, inflation remains below the Federal Reserve’s two percent target. Wages have risen, but below expectations. For this reason, some suggest that the Phillips Curve no longer applies.