By Karen Petrou
- Judging U.S. rulemaking by its benefits to the public good, not just by its impact on private wealth, is transformational and, with a new CBA methodology, also more than possible.
- Equitable rules can be both effective and efficient.
- Maximizing the public good is not synonymous with redistribution or reverse discrimination.
In 1993, President Bill Clinton issued Executive Order (EO) 12866, creating hurdles ahead of federal rules that are “economically significant.” This was measured by a cost of $100 million or more. On January 20, President Biden began a long-overdue rewrite, stipulating that federal rules are henceforth to be judged not just by their impact on private wealth, but also by what becomes of the public good.
Continue reading “Rules We Can Really Live By”
By Karen Petrou
- African-Americans were better off before the civil-rights era began than they were in mid-2019.
- Truly huge disparities lie between white and black Americans in terms of income, wealth, and inter-generational mobility.
- And that was before COVID eviscerated low-income households of color from both a health and economic point of view.
- It’s past time for equality-focused financial policy, starting first with Equality Banks.
Continue reading “Trying to Get By While Black”
By Federal Financial Analytics
FedFin has just released a new policy paper laying out how emerging risks in unregulated tech-based financial products may threaten U.S. economic inequality. It’s not that regulated institutions have always done that much better, but rather that the power of big data, predictive modeling, and far-flung commercial interests combines with tech-firm culture in still more dangerous ways far outside the reach of effective controls or meaningful enforcement. Continue reading “Making “Responsible Innovation” a Reality: Big Tech, Small Money, and U.S. Economic Equality”
By Karen Shaw Petrou and Basil N. Petrou
Can a change in financial policy that speeds cures for blindness also cure the way disability now exacerbates U.S. economic inequality? Legislation introduced just yesterday shows how.
Like most severe disabilities, blindness and significant vision impairment are major causes of un- and under-employment. 72 percent of blind Americans are not employed on a full-time basis, which by definition almost always makes them among the most economically unequal of all Americans regardless of race, age, or region. To be sure, some blind people are gainfully employed – determination over the years and, now, technology and guide dogs drop the barriers to full achievement in almost every line of work and profession. But far too often, the problems in education that disadvantage all too many Americans are still worse for the disabled, as are perceptions about incapacity and even downright discrimination. Continue reading “Seeing One Way Out”