The promise of market economics is supposed to be that as an economy grows, the paychecks of wage earners grow with it. But according to a new study, this is no longer the case.
A new interactive website is vividly showing how much income and wealth individual Americans would have today had we not seen over the past four decades a meteoric rise in economic inequality.
Rising income segregation hinders our capacity for cross-class empathy and challenges our ability to close the gap.
What the negative wealth at the bottom of the economic spectrum says about our overall economy matters deeply.
No 13-digit fortune has yet appeared on our horizon. But if we wait until we get close enough to see one, warns veteran tax attorney and activist Bob Lord, we may find our plutocracy set in concrete.
Many individuals helped construct neoclassical economics, often with financial support from the robber barons and their successors. I will focus on two: in the United States, John Bates Clark (1847-1938), and in Europe, Vilfredo Pareto (1848 to 1923).
A bold new egalitarian take on our modern economy from France has joined a powerful already published rendering of inequality’s toll — on our daily lives — from the UK. Blend the themes from these two works into our politics and watch our modern plutocracy start shaking.
A new study provides compelling evidence that public policy decisions in the United States reflect the interests of the nation’s rich and powerful much more than the nation’s political majority. Other developments, notes analyst Sheila Suess Kennedy, back up the study’s conclusions.
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.
If current trends continue, an individual trillion-dollar fortune in the United States will be surfacing within not much more than a generation. How can we be sure? Just look at the arithmetic – and tax laws on investment income and inheritances that continue to privilege the super rich.
All those official government stats on the maldistribution of wealth in the United States — and the world — vastly understate the actual extent of our contemporary inequality, says a just-released landmark new study on global tax havens.
The Federal Reserve has once again counted up America’s personal wealth — and omitted the nation’s 400 richest from the final tally. But the new figures, even with that omission, show a divide still deepening.