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How Wells Fargo's CEO Could Have Avoided His Senate Belly Flop


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What Counts as Good News?

The Census Bureau reported that median household income jumped 5.2% in 2015, and 3.5 million people rose out of poverty. The Washington Post called it “a spike that broke a years-long streak of disappointment for American workers.”

Bloomberg columnist Barry Ritholtz said that the numbers showed that the recovery from the Great Recession is finally taking hold. “Unlike in recent years, when much of the gains went to an increasingly narrow group at the top of the economic strata, last year’s improvements were broad and deep.”

The New York Times noted the “eye-popping improvement in economic fortunes” but put it in context: “real incomes of most American households still are smaller than in the late 1990s. And large swaths of the country—rural America, industrial centers in the Rust Belt and Appalachia—are lagging behind.” A few days later, though, the Times said that a reported finding that incomes had actually fallen in rural areas was wrong, a result of a definitional change; incomes rose 3.4% in rural areas in 2015.

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Contributors


Rich Kidd
Deputy Assistant Secretary of the Army, Energy & Sustainability

Richard Brooks
Professor of Law, Yale Law School

Kevin D. Gray
Lecturer in the Practice of Real Estate

Lynn Stout
Distinguished Professor of Corporate & Business Law, Cornell University Law School, Author of The Shareholder Value Myth

Alfrédo Gangotena
Chief Marketing Officer, Mastercard Worldwide


Martin S. Shubik
Martin S. Shubik
Seymour H. Knox Professor Emeritus of Mathematical Institutional Economics

Ernesto Zedillo
Director, Yale Center for the Study of Globalization, and Professor in the Field of International Economics and Politics, Yale University; Former President of Mexico

Tyler Cowen
Professor of Economics, George Mason University