One seldom-discussed backdrop to instability in the Middle East: growing economic inequality. The middle class in Arab countries has shrunk from 75 percent of the population in the 1990s to 45 percent in 2010.
The total pot of Wall Street bonuses last year, $26.7 billion, amounted to almost twice what all full-time minimum-wage workers combined earned in the same period.
In an unequal America, individuals with huge amounts of money, not national priorities or peer-review groups, are shaping the practice of science.
Outsized rewards shred our social fabric, says a New York bank chief.
Three takes on Capital in the Twenty-First Century, the new inequality magnum opus from French economist Thomas Piketty.
The IMF is certainly not the first international institution to issue reports on inequality, and this one both lacks scope in analysing the causes of growing inequality and is very guarded in its policy proposals.
The New York financial industry’s bonus pool exceeded the annual earnings of more than the 1 million Americans who work full-time at the federal minimum wage.
Average Wall Street bonuses grew by 15 percent to $164,530 in 2013, the largest average bonus since the 2008 financial crisis.
New research helps make clear that taking action to reduce the extreme inequality of 21st-century America would probably increase, not reduce, economic growth.
A top economist shreds the latest attempt to argue that getting upset about our top 1 percent distracts attention from helping the poor.