Choice Bits; Excerpts from recent Editor's Choice blog entries on CrainsCleveland.com.(Briefs)(Excerpt)

Crain's Cleveland Business, May, 2007

With poverty, the beat goes on, and on ... The Federal Reserve Bank of Cleveland used its 2006 annual report, released last week, to take a look at the major economic conundrum of our time: Why is poverty so persistent in the world's biggest and most dynamic economy? An essay included in the annual report, "Understanding the Persistence of Poverty,'' noted that despite a half century of strong economic growth and a variety of programs designed to reduce poverty, nearly 37 million Americans - more than 12% of the U.S.

population - live below the poverty line. In a summary of the essay, the Cleveland Fed noted that the causes of income inequality "are complex and not entirely understood. One theory is that during periods of rapid technological change, like...

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