Inside a South L.A. Union Hall, a Tool for Saving Money—and for Fighting Predatory Payday Lenders

Traditional Lending Circles Get a Modern, Credit-Building Makeover for the City’s Service Workers

To find an old way of saving that is new again, head to the line of mortuaries along Los Angeles’ Washington Boulevard, between Hoover Street and the 110 Freeway. One of those mortuaries has been converted to a union hall for the Service Employees International Union—United Service Workers West.

Inside the union hall and behind the big room used for banquets is a library named for Edward Tchakalian, an Armenian-American labor activist who uncovered a statewide scheme of paying janitors sub-minimum wages for long hours of work within the Ralphs, …

How Opening a Savings Account Can Close the Racial Wealth Gap

With Modest Public Investment, Low-Income Families Can Build a Financial Cushion Against a Recession or Medical Emergency

Like many economists who care about American families struggling to make ends meet, I spend a good amount of time thinking about how parents can earn more income to give …

Money Isn’t Corrupting American Politics

But Loose Campaign Finance Laws Are Even More Dangerous and Subtle Than We Think, Says Legal Scholar Richard L. Hasen

Money alone can’t win an election—but that doesn’t mean it’s not a huge problem in American politics.

That was the main message of Zócalo’s first event of 2016, a talk by …

Why Are Credit Card Bills So Incomprehensible?

Attention Holiday Shoppers: Even a Marketing Professor Has Trouble Figuring Out the Optimal Amount to Pay

As we head into the holidays, chances are you’ll be using your credit card a lot more than normal. Americans love their plastic—but not the monthly bills that come with.

The …

Show Me the (New) Money

If We’re Going to Have Fast, Reliable Online Transactions, We Need a System that Actually Works

They said it was imminent. They said so two decades ago. But I am still waiting for a truly fast, reliable, and safe form of money for people—all 7 billion …

Why Janet Yellen Still Needs to Be Patient

In Today’s Global Economy, Even the Mighty Federal Reserve Isn’t in Charge

Sometimes my parenting slackens—say on vacation—and Sebastian gets accustomed to staying up late, taking too much screen time, and passing on his veggies. Pulling him back to normalcy from this …