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Homelessness and Inequality

Author

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  • Mary Cleveland

Abstract

Homelessness and housing insecurity in the United States are not so much a housing problem or a poverty problem as a visible sign that growing wealth inequality has left millions of people unable to earn enough to afford adequate housing. The classical economists David Ricardo and Henry George linked wealth inequality by arbitrage to unequal income and wages. The greater the inequality of wealth, the greater the inequality of income and the lower the wages at the bottom. Neoclassical economics has largely obscured this relationship. Consequently, proposals from both conservatives and liberals to address homelessness focus narrowly on housing. Ultimately, reducing wealth inequality requires national tax reform and a return to vigorous antitrust enforcement. However, cities can reduce local inequality by making property tax assessments uniform, or, better yet, by shifting to taxing land only.

Suggested Citation

  • Mary Cleveland, 2020. "Homelessness and Inequality," American Journal of Economics and Sociology, Wiley Blackwell, vol. 79(2), pages 559-590, March.
    • Handle: RePEc:bla:ajecsc:v:79:y:2020:i:2:p:559-590
    DOI: 10.1111/ajes.12327
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    References listed on IDEAS

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    1. Edward N. Wolff, 2016. "Deconstructing Household Wealth Trends in the United States, 1983 - 2013," NBER Working Papers 22704, National Bureau of Economic Research, Inc.
    2. Steckel, Richard H, 1990. "Poverty and Prosperity: A Longitudinal Study of Wealth Accumulation, 1850-1860," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 275-285, May.
    3. Galbraith, James K., 2016. "Inequality: What Everyone Needs to Know," OUP Catalogue, Oxford University Press, number 9780190250478.
    4. Edward Glaeser & Joseph Gyourko, 2018. "The Economic Implications of Housing Supply," Journal of Economic Perspectives, American Economic Association, vol. 32(1), pages 3-30, Winter.
    5. Edward N. Wolff, 2014. "Household Wealth Trends in the United States, 1962-2013: What Happened over the Great Recession?," NBER Working Papers 20733, National Bureau of Economic Research, Inc.
    6. Wojciech Kopczuk & Emmanuel Saez & Jae Song, 2010. "Earnings Inequality and Mobility in the United States: Evidence from Social Security Data Since 1937," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 125(1), pages 91-128.
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    Cited by:

    1. Shengao Yi & Wei Tu & Tianhong Zhao & Xiaojiang Li & Yatao Zhang & Donghang Li & Joseph Rodriguez & Yifei Sun, 2026. "Uncovering nonlinear urban factors of homelessness: Evidence from New York City using interpretable machine learning," Environment and Planning B, , vol. 53(1), pages 198-227, January.

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