By Stan Sorscher, EOI Board Member
The other day, I had lunch with an economist I respect and admire. I asked him, what would it take for China to become a modern democracy and build a strong middle class?
OK. I didn’t ask him that. I told him that China would need strong institutions of civil society, and a deeper sense of Social Contract to become a stable modern democracy with a dynamic middle class.
Congratulations to Becky King for winning our ReCapture the Flag picture contest – she gets a delicious apple pie! Becky included this note with her photo:
“Here’s my Flag Day Picture. And for the record, I was actually born on Flag Day. This was taken in South Korea during a World Cup match against Portugal–the U.S. won.”
The author in the early 90s
Yesterday, the AP published an article with this headline: “Social Security not deal it once was for workers.” Perhaps it’s true that Social Security is not as good of a deal as it once was – but it’s still a pretty damn good deal.
It’s a feature of nearly every college graduation: that moment when the speaker calls the graduates to stand and acknowledge their parents with a round of applause. It’s a poignant moment at any ceremony, but even more so today as parents are footing more of the bill to see their children succeed.
As college tuition skyrockets and state and federal aid recedes, the impact on students is well documented, but the effect on parents and families – though less publicized – is equally severe.
On the list of things that cross the minds of most young people, Social Security usually ranks near the bottom – somewhere below flossing your teeth but above Justin Bieber’s latest single. It’s understandable. Social Security is usually viewed as a benefit for seniors. But that couldn’t be farther from the truth.
They say if you’re the smartest person in the room, you’re in the wrong room.
But if you and your team are at EOI’s Trivia Night with renowned macroeconomist Dean Baker — author of eight books, co-founder of the Center for Economic Policy Research, and go-to “talking head” for national news outlets — then who’s smarter: Your trivia team or Dean Baker?