{"id":97187,"date":"2013-12-25T07:53:13","date_gmt":"2013-12-25T12:53:13","guid":{"rendered":"http:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/uncategorized\/super-rich-benefit-from-status-quo-bias.php"},"modified":"2013-12-25T07:53:13","modified_gmt":"2013-12-25T12:53:13","slug":"super-rich-benefit-from-status-quo-bias","status":"publish","type":"post","link":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/super-computer\/super-rich-benefit-from-status-quo-bias.php","title":{"rendered":"Super rich benefit from &#8216;status quo bias&#8217;"},"content":{"rendered":"<p><p>23 hours ago by H. Roger Segelken            <\/p>\n<p>    (Phys.org) Income inequality  between the super-rich and the    rest of us  and a sorry record of progressive policy    initiatives from Congress all can be traced to a built-in    \"status quo bias\" in our political system, according to    Cornell's Peter K. Enns and colleagues at three universities.  <\/p>\n<p>    They analyzed the behavior of Congress and economic trends for    the past 70 years in for their article, \"Conditional Status Quo    Bias and Top Income Share: How the U.S. Political Institutions    Have Benefitted the Rich,\" forthcoming in the Journal of    Politics.  <\/p>\n<p>    \"Policy change, to ease income inequality and other socioeconomic ills,    is made more complicated by the U.S. Senate's filibuster    rules,\" says Enns, an assistant professor of government.    \"Furthermore, because more policy action is necessary to change    the income distribution as inequality increases, the effects of    status quo bias grow as inequality rises.\"  <\/p>\n<p>    Reports from 2012  showing more than half the nation's total    income going to the top 10 percent of earners, and one-fifth to    the top 1 percent  bear out the political scientists'    analysis, which covered the years 1940-2006. Data on \"top    income share\" were easy enough to find and plot on graphs    across seven decades of ups (mostly) and downs.  <\/p>\n<p>    Quantifying the politics of status quo bias required two    approaches: the so-called \"filibuster pivot distance\"  which    measures the ideological difference between the \"median\"    senator, in terms of ideology, and the filibuster pivot, the    senator who would cast the vote to end a filibuster  and the    \"Congressional policy product,\" which measures the overall    legislative productivity of Congress.  <\/p>\n<p>    The wider the filibuster-pivot distance, the more difficult it    is to enact policy change that reduces income inequality, the    political scientists asserted. Except for some deviation    between 1958-76, the 70-year plots of filibuster pivot distance    and top income share were similar. The more successful    obstructionist filibusters were, the richer the rich became.  <\/p>\n<p>    Determining Congressional policy product was also conceptually    straightforward  especially in recent years when there wasn't    much coming from Capitol Hill. (Policy product output peaked in    the mid-60s to early 1970s, and again in the late 1980s.) When    the graph of Congressional policy product was inverted and    superimposed on top-income share, the ups and downs are eerily    alike: Policy-wise, nothing puts distance between the super    rich and the rest like a well-maintained status quo.  <\/p>\n<p>    Another author of the \"status quo bias\" paper, the University    of Tennessee's Nathan J. Kelly, noted the \"nuclear option\"    recently invoked by the Senate Democratic majority leaders to    curtail filibuster on presidential appointments. Limiting the    use of filibusters on appointments \"won't have much effect on    policy gridlock in Washington,\" Kelly predicted. \"Only the very    rich benefit from today's anti-majoritarian, gridlocked    government.\"  <\/p>\n<p>    Concluded Enns, \"Our evidence suggests that the filibuster gets    in the way of policy change that could reduce    inequality of all kinds, including income inequality. Given the    polarized political environment in Congress, significant    changes in policy will be difficult without institutional    reform.\"<\/p>\n<p><!-- Auto Generated --><\/p>\n<p>Read the original post:<\/p>\n<p><a target=\"_blank\" href=\"http:\/\/phys.org\/news307089667.html\" title=\"Super rich benefit from 'status quo bias'\">Super rich benefit from 'status quo bias'<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 23 hours ago by H. Roger Segelken (Phys.org) Income inequality between the super-rich and the rest of us and a sorry record of progressive policy initiatives from Congress all can be traced to a built-in \"status quo bias\" in our political system, according to Cornell's Peter K. Enns and colleagues at three universities <a href=\"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/super-computer\/super-rich-benefit-from-status-quo-bias.php\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"limit_modified_date":"","last_modified_date":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[41],"tags":[],"class_list":["post-97187","post","type-post","status-publish","format-standard","hentry","category-super-computer"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/97187"}],"collection":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/comments?post=97187"}],"version-history":[{"count":0,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/97187\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/media?parent=97187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/categories?post=97187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/tags?post=97187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}