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Comparisons between post-2008 America and the economic quagmire of the 1930s have been circulating for years, but a new study out of the London School of Economics sets the country back even further -- and moves the decimal point back a couple of spaces on the 1 percent to highlight an even smaller and richer demographic.

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Thomas Piketty attributes rising inequality in the U.S. primarily to huge increases in the salaries of CEOs and other top executives, but he misinterprets the evidence. Rising salaries of top executives actually explain very little of the rise in inequality, and they depressed other employees’ pay by only a negligible amount.

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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."

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The best-selling author whose "Capital in the Twenty-First Century" has been shaking up the world says Karl Marx did not influence his research, but his statement may be tongue in cheek; the true Crimean referendum results were accidentally revealed, showing only 15 percent of voters backed annexation; meanwhile, the mayor of Seattle has proposed a plan to raise the minimum wage to $15 an hour. These discoveries and more after the jump.

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