Between our world’s twin peaks — the ever-richer global elite and the rising Chinese middle class — lies what we might call the valley of despond: the stagnating incomes of the advanced-country working classes.
New research unveiled in 2014 has solved the puzzle in our statistics on economic inequality.
The globe’s 400 wealthiest billionaires are ending the year worth a combined $4.1 trillion, an average $10.3 billion each.
A $62 million van Gogh, a $23 million Patek Philippe watch, an $8 million stamp.
Silicon Valley, home to 34 billionaires, has the nation’s fifth largest homeless population.
Shaming may not bring America’s corporate CEO Scrooges to a Dickensian redemption, but shaming can help create a societal consensus that certain behaviors do indeed rate as disgraceful
Downton renders class division civilized and quaintly cozy. Those upstairs do nothing unspeakably horrible to their servants. Those downstairs remain remarkably content with their lot.
By the time the billionaire Koch brothers wake up on Christmas morning, the wealth the two men will have accumulated throughout the night could get a room for the night for every one of the 633,000 homeless Americans.
Racism and police violence are deeply connected to the financialization of the economy and runaway inequality.
Inequality is preventing us from adopting efficient solutions to a wide variety of problems, ranging from drought response to traffic congestion to climate change.
The share of Americans making between 50 percent more and less of the nation’s median income has dropped from 56.5 percent in 1979 to 45.1 percent in 2012.
Since 1983, typical U.S. middle class household wealth has gone up from $94,300 to only $96,500, after inflation. Between 1983 and 2013, upper-income families have seen their median soar from $318,100 to $639,400.
The must-have requirement for an on-demand service economy to work: a desperate labor class willing to work at bargain-basement wages.
Taxpayer subsidies awarded to corporations by states and localities, says a new report, are fueling economic inequality by going to companies that are owned in whole or part by billionaires.
On the growing resistance to the billionaire class.
Thomas Piketty, the French economist whose book on wealth inequality became an international best seller, is urging governments across Scandinavia to reassess recent tax cuts that benefit the wealthy.
Economic injustice, as much as racism, is deeply implicated in the recent killings of unarmed black men by white police officers.
A new law in San Francisco to curb erratic scheduling practices could be the first of many.
A new report from the OECD, the developed world’s top economic think tank, dismisses the concept of trickle-down economics.
Whatever promises we want to make to our kids run through the intersection of climate change and income inequality.
In the prosperous post-World War II years, with inequality low and stable, marriage rates for rich, poor, and middle class adults ran at similar levels and the proportions of married people reached historic high points for all classes.
Ferguson puts America’s racial apartheid on the global stage.
Fairfield County in Connecticut, the nation’s hedge fund capital, rates as the U.S. metro area with the highest level of inequality.
The gap between rich and poor has grown so vast that even Fed chief Janet Yellen suggests it verges on un-American.
A look at the growing separation between workers and the companies that ultimately control the conditions of their employment.
The beneficence of billionaires poses a threat to the ability of everyday Americans to have an equal voice in civic life.
Homes with helipads poisoning an entire generation.
Individuals worth at least $30 million now make up only 0.004 percent of the world’s adult population, but control almost 13 percent of the world’s total wealth.
A growing number of corporations spend more on executive compensation than federal income taxes.
Economics may now be evolving for the better.
Four extreme examples of avarice in America.
The top one-hundredth of the 1 percent are pulling away from the rest of that group, leaving the merely very rich behind and creating two markets in the economy’s upper reaches.
Current top marginal tax rates in the United States run lower than would be optimal, and pursuing a policy aimed at increasing them would likely benefit society as a whole, says this new analysis.
Why inequality matters.
On the growing awareness that the yawning gap between rich and poor undermines economic success and human happiness.
The relationship goes far beyond the poverty of Africa’s poorest countries.
America’s richest 0.1 percent now have as much of the country’s wealth as the poorest 90 percent.
So says a new survey from the World Economic Forum, the organization behind the annual Davos summit.
In 2000 roughly half of capital gains went to America’s top one-tenth of 1 percent, those making roughly more than $2 million a year. In 2012 this tiny slice of Americans collected a much larger share: 62 percent of capital gains.
Sophisticated campaign targeting and get-out-the-vote operations can’t substitute for the passion, clarity, and vision that motivate Democrats to vote.