You don’t have to be a rocket scientist to be able to show the link between inequality and catastrophic environmental change. But a little help from rocket scientists can certainly help. A new NASA-funded effort explores what the future may have in store for our unequal world.
Today’s super rich engorge themselves on federal dollars and evade billions in taxes while ordinary Americans work themselves to the bone. Professor of Law and Public Policy Sheila Suess Kennedy maintains it’s high time we rethink who are the ‘makers’ and the ‘takers.’
Pundits usually have income in mind when they talk about the top 1 percent. And analysts sometimes rank our richest by wealth. But Duke University sociologist Lisa Keister points out that if we really want to understand privilege, we need to start looking at both.
Baseball’s top hitter and Wall Street power suits both ply their trades in a high-speed world. That hitter will make over a quarter-billion in the next decade. The top suits stand to ‘earn’ astonishingly more. The phenomenon of high-speed trading accounts for one reason why.
We always get what we measure. And if we measure inequality with a yardstick that only wonks can decipher, we’ll end up with a society too confused about inequality to do anything meaningful about it. Thanks to Chilean economist Gabriel Palma, we do have an alternative.
Heiress Bunny Mellon lived a long and rich life that spanned the divide between the top-heavy United States of the early 20th century and the equally top-heavy United States of our own times. The mystery: How did her family’s fortune outlast America’s years of high taxes on the rich?
How concentrated has America’s wealth become? In the not-so-distant future, if current trends continue, the Koch brother, Walton, and Mars family households will together hold over $1 trillion in wealth, over 1 percent the net worth of a nation with over 300 million people.
The chase after the super rich is leaving the world’s choicest cities nastier places to live for anyone without a grand fortune. Any city “in thrall to money and greed,” one UK newspaper editorial warns, is inviting “nightmarish consequences” that only begin with inflated housing costs.
Let’s learn from our not-so-distant past and share the gold. New technologies don’t have to bring us new inequalities. The prime example from our relatively recent past: the advent of television in the decade right after World War II. TV changed our lives, without creating billionaires.
A prominent conservative in Congress, House Ways and Means Committee chair David Camp, has released a wide-ranging tax reform package that actually will not leave the rich significantly richer. Should America’s 99 percent be grateful for small blessings — or suspicious? Or both?