Sunday, May 1, 2022

Can America Return to its Meritocratic Roots?

America Must Work Harder for Homegrown Talent
https://www.bloomberg.com/opinion/articles/2022-05-01/america-must-look-harder-for-its-high-ability-low-income-homegrown-talent
Adrian Wooldridge notes:
American education has always involved a tug of war between those who emphasize equality and those who emphasize opportunity. But in recent years, the egalitarians have been winning decisively, and their mantra of “diversity, equity and inclusion” is in danger of crowding out serious thought…
“Equity” is a code word for “equality of result” as compared with “equality of opportunity.” Societies and institutions that have emphasized the first rather than the second of these two versions of equality have historically produced only equality of failure: Given individual differences in ability and energy, you can only produce equality of result by depriving people of their freedom and confiscating the fruit of their labor

State of American Democracy




Rising Home Values and the Wealth Effect

The Extraordinary Wealth Created by the Pandemic Housing Market
https://www.nytimes.com/2022/05/01/upshot/pandemic-housing-market-wealth.html 

Related:

Grim Outlook for the World Economy

Inflation and the Public Debt Burden

As Inflation Eases Public Debt Load, Economists Sound Cautionary Note
https://www.wsj.com/articles/as-inflation-eases-public-debt-load-economists-sound-cautionary-note-11651397401
Excessive reliance by governments on rising prices is seen possibly triggering upward spiral in interest rates