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Early in childhood many children begin to repeatedly hear the same advice from their families, teachers and mentors; be exceptional in high school and get into a top college, choose a “useful” major, graduate on time, get a well-paying job, and work your way up. Beyond simply being a list of ways to get young adults out of their parent’s home, generationally these instructions have been passed down as keys to socioeconomic mobility. Within the United States, this concept of economic mobility is a norm. It is the epitome of the American Dream, but in practice there are gaps in execution and the hoarding of a dream for particular groups of people.
Faculty Affiliate Olivia Mitchell talks on CNBC about how a husband’s mortality is a driving force behind gains in women’s financial literacy late in life.
“So what we can see as time marched forward, is that the women tended to start out as less financially literate — but as the day approached where their husband passed away, the women gained financial skills.”
Following World War II, the European continent was left ravished and defenseless. With the rise of the Soviet Union as a threat to democracy, the North Atlantic Treaty Organization (NATO) was formed.
Last month, the Alaska Legislature narrowly avoided a government shutdown after months of gridlock and frustration by approving a nearly $9 billion operating budget for the upcoming fiscal year.
Faculty Affiliate Kevin Werbach comments for Philly.com on Bitcoin’s rapid rise this summer and its prevalence in Philadelphia.
“The magnitude of the rise this year has been a speculative bubble which will in time deflate but how fast and how far we don’t know.”