The number of condo buildings in Manhattan with apartments selling for more than $15 million has risen to 49, up from 33 in 2009. In the nearby borough of Queens, record foreclosures.
Twenty cities now have more than 100,000 millionaires. New York hosts the most billionaires, with 70, says a new WealthInsight study.
The new Pope sees the “joy of life” diminishing in many developed countries. He noted today that “while the income of a minority is increasing exponentially, that of the majority is crumbling.”
Income inequality rose by more in the first three years after the global economic crisis hit in 2010 than it had in the previous 12 years, according to new OECD data.
In India, as elsewhere, an ever-present air-conditioned bubble of luxury keep the filthy, broken- down public infrastructure at bay for the super rich. In fact, the filth outside bolsters a sense of privilege. Insulation becomes the ultimate marker of status.
Only a small number of America’s top performing companies give raises or bonuses to most employees that are tied to earnings. Why shouldn’t these companies spread the wealth?
That’s the message from the stats of the Mother’s Index.
More and more schools are actively trying to recruit high-income students with merit aid and other enticements – and making it harder and harder for low-income students to attend in the process.
In 2012 the CEOs of the 11 largest global pharmaceutical companies drew total compensation of $199.2 million, two and a half times their 2003 total.
A closer look at how economic inequality impacts student achievement.