The Great Recession has widened the gap between the developed world’s affluent and everyone else, details a new report from researchers at the Paris-based OECD. In fact, inequality increased more in the three years after the global crisis first hit in 2007 than in the previous 12 years.
The inequality and growth debate is a red herring. It just doesn’t matter. The problem is inequality, and its solution is simple.
How can sales of super-luxury cars grow at super-fast rates during a recession? The answer is simple: it’s not a recession for everyone.
Almost every single U.S. state has seen a significant growth in income inequality since the late 1970s, documents a new study from two leading Washington, D.C. think tanks. But states, the study stresses, can take equalizing action even if the federal government doesn’t.
Yes, the poor have struggled mightily while our rich have become phenomenally flush. But middle-income American households haven’t been able to jump off the treadmill either.
Far too many Americans still see poverty and poor people through a racial prism that distorts demographic realities — and undermines efforts to narrow income inequality. But recently released annual data from the Census Bureau can help point the way to a better understanding of deprivation in America today.
A new study out of the Cleveland Federal Reserve Bank details the declining share of U.S. national income that comes from the labor we do and the rising share of U.S. national income that comes from the wealth we own. The big problem with that: Only a few of us own that wealth.
A new report from a UN group details how low inequality promotes economic growth — and blasts away at a status quo where the most profitable firms end up to be those that most ruthlessly drive down wages. The only winners in this status quo: the owners of the most miserly firms.
The national leader of one of America’s feistiest unions is aiming to expand the economic fairness debate. He’s proposing a cap on incomes at the top that rises only if incomes at the bottom rise first. Far-fetched? Not really. America once had a President who called for an income cap.
New data has solidified New York’s standing as the most unequal major city in the world’s most unequal developed nation. The city sports nearly triple the income millionaire density of the United States as a whole. New York’s top 1 percent is grabbing a third of the city’s income.