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November 29, 2015
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Tag: Wealth Inequality

A Seattleite Tells How Amazon ‘Swallowed’ His Town

Recent news about Amazon has focused on the abusive conditions that prevail in the company’s headquarters in Seattle. A “more comprehensive indictment,” writes a lifelong resident of the city, would “describe its effect on” the city, “which used to be a great place to live.”

Posted on Aug 19, 2015 READ MORE

Karl Marx Was Right

The economist and philosopher foresaw that capitalism had built within it the seeds of its own destruction, that the greed of a tiny elite would eventually bring down the system. The final stages that he predicted are visible all around us now.

Posted on May 31, 2015 READ MORE

The Real Reason Inequality Is Widening and Average Working Americans Can’t Gain Ground

For the past quarter-century I’ve offered in articles, books, and lectures an explanation for why average working people in advanced nations like the United States have failed to gain ground and are under increasing economic stress.

Posted on May 4, 2015 READ MORE

Put a Name to the 80 People Who Own Half of the World’s Wealth

Some of the names on this list of the über rich will seem familiar while others may come as a surprise.

Posted on Jan 27, 2015 READ MORE

The Income Gap Between Races Is Wider Than It’s Been for Decades

Wealth inequality between whites and their black and Hispanic counterparts has reached its highest point since the late ’80s and early 2000s in the U.S.

Posted on Dec 23, 2014 READ MORE

Why Ordinary People Bear Economic Risks and Donald Trump Doesn’t

Bankruptcy was designed so people could start over. But these days, the only ones starting over are big corporations, wealthy moguls and Wall Street.

Posted on Sep 22, 2014 READ MORE

1 Percent ‘Literally Rich Beyond Measure’

Wealth hidden by tax shelters and non-responses to questionnaires is so undercounted that “correcting for similar lapses in income data almost erases progress made from 1988 to 2008 in narrowing the gap between the world’s rich and poor,” Bloomberg contributor Jeanna Smialek reports that a body of research has found.

Posted on Aug 7, 2014 READ MORE

Thomas Frank Locates Thomas Piketty’s Blind Spot

The celebrity economist’s proposal of an “international IRS” as a means to end rampant wealth inequality falls far short of methods that exist in the American tradition, Salon columnist Thomas Frank writes in a critique of the best-selling “Capital in the Twenty-First Century.”

Posted on May 18, 2014 READ MORE

The Divide

Posted on Apr 18, 2014 READ MORE

The Divide

Matt Taibbi’s new book is more Lincoln Steffens than Hunter Thompson, dropping most of the histrionics to explore why Wall Street bankers are seemingly exempt from criminal prosecution.

Posted on Apr 18, 2014 READ MORE

Bob Jagendorf (CC BY 2.0)

A Lesson for Future Presidents and Children

The No. 1 problem we face is inequality, and the beginning of a new school year is the appropriate moment to ask what role education plays. Are schools part of the solution or are they part of the problem?

Posted on Sep 19, 2013 READ MORE

‘Left, Right & Center’: The Syrian Drama, Extreme Inequality

Truthdig Editor-in-Chief Robert Scheer and the other “Left, Right & Center” panelists asked Friday whether President Obama just succeeded at diplomacy with Syria by accident? Are we rolling out the “Mission Accomplished” banner too soon?

Posted on Sep 13, 2013 READ MORE

Flickr / slynkycat

Four Out of Five Adult Americans Face Poverty, Joblessness

So much for the American dream. Based on new survey data released exclusively by The Associated Press, it appears that economic insecurity is becoming the new norm in the U.S.

Posted on Jul 28, 2013 READ MORE

Flickr/Dave Linabury

Detroit and the Bankruptcy of America’s Social Contract

The geopolitical divide has become so palpable that being wealthy in America today means not having to come across anyone who isn’t.

Posted on Jul 21, 2013 READ MORE

Flickr/401(K) 2013

Average CEO Makes More in 1 Day Than Worker Makes in 1 Year

The salaries of corporate CEOs in the U.S. have ballooned so ridiculously in the past 50 years that the average chief executive now earns roughly 237 times what the average American worker collects.

Posted on Jul 7, 2013 READ MORE

Image via Shutterstock

How the Rich Benefited From the Recovery (While Most of Us Got Nothing)

The richest Americans made trillions during the so-called economic recovery from 2009 to 2011, while most everyone else’s net worth dropped, according to a recent study. “It’s as if the entire economic recovery is going into the pockets of the rich,” Les Leopold writes at AlterNet. “And that’s no accident.”

Posted on May 5, 2013 READ MORE

The Disuniting of America

We come together as Americans when confronting common disasters and common threats, such as occurred in Boston on Monday, but we continue to split apart economically.

Posted on Apr 17, 2013 READ MORE

Flickr/401(K) 2013

Income Growth for 90 Percent of Americans Over Last 4 Decades Averaged $59

For the top 10 percent of American taxpayers though, it was—not surprisingly—a lot more.

Posted on Mar 25, 2013 READ MORE

Watch: The Staggering Extent of Wealth Inequality in the U.S.

An infographic-heavy video on wealth distribution that went viral over the weekend reveals that the gap between the rich and the poor in the U.S. is probably much worse than you think.

Posted on Mar 4, 2013 READ MORE

The Non Zero-Sum Society

A newly released analysis by the Economic Policy Institute shows that the super rich have done well in the economic recovery while almost everyone else has done badly.

Posted on Jan 29, 2013 READ MORE

BlaisOne (CC-BY)

The Making of the American 99% and the Collapse of the Middle Class

Until a few months ago, the 99% was hardly a group capable of articulating “the identity of their interests.” It contained, and still contains, most “ordinary” rich people, along with middle-class professionals, factory workers, truck drivers, and miners, as well as the much poorer people who clean the houses, manicure the fingernails, and maintain the lawns of the affluent.

Posted on Dec 17, 2011 READ MORE

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