The Federal Reserve has been blamed by many for the rampant wealth inequality in the US, primarily because of “quantitative easing” (QE) — creating money seemingly out of thin air. But while they may have a role in wealth inequality, it’s more nuanced than it seems. Japan, the Eurozone, and the United Kingdom all did more QE than the US yet have less wealth inequality. Thus, instead, it’s put forth that central banks don’t have as big of an effect on wealth inequality when compared to fiscal policies. Read full article here
Societal Issues
To curb drug deaths, communities turn to Reddit, texts and wastewater
With drug overdose deaths on the rise, authorities are attempting to curb the epidemic by tracking and sharing information in real time. In one unique effort, a nonprofit in New York City is using drug-testing equipment and stamping or marking habits of dealers to identify drug batches that may endanger users. Other approaches are also being used, such as monitoring drug-related chatter on Reddit and analyzing local wastewater for opioid and other drug levels. With the combination of these efforts, researchers hope to put a dent in the opioid crisis and reduce overdose deaths. Read full article here
Merv
June 1, 2023
