In a tough economy with dwindling social supports, children of privilege have a bigger head start than ever.
A stark rise in inequality has brought about unprecedented rioting in Stockholm.
Private shuttles taking workers to and from Google, Apple, Facebook, and Twitter in San Francisco are becoming symbols for alienation and division as residents struggle with crowded municipal bus services and poor facilities.
At America’s most selective schools, 70 percent of students come from the wealthiest quarter of U.S. families, just 14 percent from the poorest half. But 39 percent of America’s high-achieving students come from the poorest 50 percent.
France has imposed limits on executive pay at state-run companies and initially pledged to do the same in the private sector. But now the Hollande government says it will urge private companies to impose limits voluntarily — and then see what happens.
Why the massive inequality that nurtures the frustrations and aggravations of our daily lives will not last.
The average Wal-Mart salesperson makes only $8.81 per hour, but the six heirs to the Wal-Mart fortune have pocketed about $100 billion in wealth, more than the least well-off 41 percent of Americans combined.
In recent years, spending enormous sums of money while thousands of Americans lost their jobs seemed “gauche,” and those who had the means held off on purchasing pricey pads. That’s now changing.
Celebrities loom large when inequality is soaring. Their superficial diversity dangles before us the myth that anything is possible — even as the American dream quietly dies.
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.