This blog compiles the thoughts of UCLA undergraduates on the connections between economic history and current events. All contributors to this blog are enrolled in Ec183, The Development of Economic Institutions in the United States. The premise of this course is the history matters. The careful application of economic theory and quantitative reasoning can help us understand the past.
Tuesday, September 13, 2011
Job Training and Economic Recoveries?
Has job training ever been useful in economic recoveries? This WSJ opinion article seems to say no. Is there evidence to counter this? "What Job Training Teaches, Bad Work Habits."
Poverty rate at record high
The concept of a "poverty rate" -- defined as the share of families falling below a minimal income threshold -- was developed in the mid-1960s during the War on Poverty. According to this LA times article, the most recent poverty rate (15.1%) is one of the highest on record.
What used to qualify as bad news
In this government report on poverty rates from 1971, the Census Bureau expresses alarm that the poverty rate is up to 13.0%. The poverty rate is 15.1% today!
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