Rising income segregation hinders our capacity for cross-class empathy and challenges our ability to close the gap.
The Facebook founder saw his wealth ranking jump while others sink. At his age he appears to be the most likely candidate for the world’s first trillionaire.
The greater the income gap, the more important it becomes for rich parents to give their children every possible advantage. Increasing inequality thus accentuates elites’ reluctance to pay taxes that could equalize opportunity. Their own children just may have the most to lose.
Among developed nations, America ranks number one in child poverty. The cause? Many powerful elected leaders point to unmarried mothers. But the research doesn’t back them up. Look instead, that research suggests, to an unequal economy loaded with low-wage jobs.
America’s official poverty line has remained fixed in real terms for over 40 years. Despite this, poverty is higher than it was at the end of the 1960s.
Would it be such a terrible thing if fast food workers got a twenty percent raise this year while executives took a pay cut? It’s not our economy that needs rethinking; it’s our ethics.
The fact that the average American household today has an income of $50,000 instead of $100,000 can be attributed entirely to the fact that inequality has risen over the past four decades instead of declining.
At long last the jobs figures are improving — or are they?
Occupy Wall Street protests in lower Manhattan have struck at the heart of American corporate capitalism. What about Occupy Greenwich?
What made last week’s rioting in London all the more ‘achingly sad’? The rioters weren’t challenging greed. They were celebrating it. We really need to understand why.