Budget Blog

Next week the Senate Budget Committee will hear from two economists who are leaders in the field of economic mobility and inequality.  

Joseph E. Stiglitz is a professor at Columbia University, a Nobel laureate in economics, and formerly served as chairman of the Council of Economic Advisers and chief economist at the World Bank.

Stiglitz has focused on economic inequality in the United States and throughout the world. He has cited tax decreases for the rich, easing of federal regulations on the financial sector, and under-investments in infrastructure, education, health care systems, and social safety nets as factors contributing to rising inequality in the United States.

Read more about Stiglitz’s work here

Raj Chetty is the Bloomberg Professor of Economics at Harvard University. Chetty has received a MacArthur “Genius” Fellowship and the John Bates Clark medal, which is awarded to the best American economist under age 40 by the American Economic Association.

Chetty recently co-authored studies on economic mobility in the United States. One study found that areas with greater mobility in the United States often have less segregation, less income inequality, better schools, greater social capital, and more stable families. Another study showed that economic mobility is still a major problem in the United States, and has not changed significantly over time.

Learn more about Chetty’s work on economic mobility here.

More information about this hearing here