It's no secret that Facebook's IPO will feed one of the most troubling trends in America today: the extreme concentration of wealth in the hands of a tiny elite.
The story as it now stands for Facebook's IPO supports a broader narrative depressingly familiar to most Americans: Which is that the stock market is a rigged game.
As wary as the public may be of Wall Street, it is not wary enough because the financial industry rips people off even more than most of us realize -- specifically, in 401(k) fees.
When the Senate went to college, they paid an average of just over $11,443. If they attended the exact same institutions today, they’d pay an average of $32,279.
Public colleges and universities took in $62 billion in tuition in 2013. These are schools that educate three of four American college students, and eliminating that entirely could be done just by rearranging what we already spend on student financial aid.
Today, Vice President Biden and others from the Obama administration, are meeting with human-resource executives from companies that are part of the president’s effort to address the problem of long-term unemployment, including Citigroup Inc., CVS Caremark Corp. and Boeing
This past Friday, in a speech to the Federal Reserve Bank of Boston, the Federal Reserve Chair, Janet Yellen, spoke out on the evils of economic inequality in the United States. She noted that the steady growth in inequality over the past several decades represents the most sustained rise since the 19th century.
While Corinthian and its campuses may downsize or disappear completely, we should be concerned the students who attended its campuses and are currently in no man’s land.
Today, President Obama announced a proposal to make two years of community college tuition-free. It’s a big deal. But it would be just as powerful a signal if we promised students a debt-free system of public higher education, one that could be financed entirely through part-time or summer work and modest savings.
Inequality is growing because the increased wealth of the wealthiest no longer spawns income opportunities for the less well-off households and may actually diminish them.
Policies like this would incent states to return to an era when college could be funded through a summer job, part-time employment, and maybe modest savings when available, for the largest and most diverse generation of students in our history.
In the case of for-profits, not only has the government been unable to properly force institutions to account for their behavior, but it has been unable to stop providing the majority of money that keeps these colleges standing in the first place.
Credit checks are one of many barriers faced by Black job seekers; and the implicit biases of employers have proved hard to legislate. That's why New York City just joined other cities and states in banning credit checks.
The most important fact about higher education is that only a minority of people go to college. That fact would change if college was affordable for more people.
We’ve allowed the price of college and its attendant debt to rise well beyond the point where it is actually helpful in getting people through college.