Economic Inequality

/Tag: Economic Inequality

Is rich people’s excessive income about to strangle the economy?

There is an economic warning sign which has gone off before every recession going back to the 1960s (and only delivered one false positive). It's called a yield curve inversion — and it just happened on Wednesday. Gulp. Now, this doesn't guarantee a recession, of course. Even going back that far, we're only talking about

A plan to fix inequality would target CEOs who make 100 times more than their employees

America is riven by enormous income inequality. Should Silicon Valley’s very richest pay to make that better? That’s the question behind an intriguing and politically timely new proposal that San Francisco lawmakers plan to put before voters next spring and that could lead to similar efforts across the country: A second-of-its-kind attempt to tax the companies

The Exploitation Time Bomb

Worsening economic inequality in recent years is largely the result of policy choices that reflect the political influence and lobbying power of the rich. There is now a self-reinforcing pattern of high profits, low investment, and rising inequality—posing a threat not only to economic growth, but also to democracy. Since reducing inequality became an official goal of

Nearly half of global wages received by top 10%, survey finds

Nearly half of all global pay is scooped up by only 10% of workers, according to the International Labour Organization, while the lowest-paid 50% receive only 6.4%. The lowest-paid 20% – about 650 million workers – get less than 1% of total pay, a figure that has barely moved in 13 years, ILO analysis found. It

Economic inequality: What’s new?

"I’m a capitalist, and even I think capitalism is broken,” said Ray Dalio, the founder of Bridgewater, one of the largest private investment funds in the world. According to Forbes, Dalio ranks 60th on the list of richest people on the planet. “I believe that all good things taken to an extreme become self-destructive and that everything

Better Schools Won’t Fix America

Long ago, I was captivated by a seductively intuitive idea, one many of my wealthy friends still subscribe to: that both poverty and rising inequality are largely consequences of America’s failing education system. Fix that, I believed, and we could cure much of what ails America. This belief system, which I have come to think

‘Socialism for the rich’: the evils of bad economics

In most rich countries, inequality is rising, and has been rising for some time. Many people believe this is a problem, but, equally, many think there’s not much we can do about it. After all, the argument goes, globalisation and new technology have created an economy in which those with highly valued skills or talents

Workers paid by the hour are ‘always going to fall behind,’ making wealth inequality worse

Billionaire tech entrepreneur Mark Cuban has proposed a solution for income inequality that doesn’t involve dismantling capitalism: Business owners should give all their employees equity. “The biggest issue for entrepreneurs, for capitalists, for those of us who are successful is, if someone is only going to be paid by the hour...they’re always going to fall behind,” Cuban

These 15 countries have the widest gaps between rich and poor

In American politics, the issue of income inequality comes up frequently. As wealth continues to concentrate at the top – now the wealthiest 10% of American households control nearly 75% of household net worth – the middle continues to shrink, and some previously thriving metro areas have been hard hit by extreme poverty. But income

Global warming may boost economic inequality

Over the past half-century, climate change has been blamed for heat waves, flooding, and rising seas. Now, researchers say warmer temperatures are widening the chasm separating richer and poorer countries, effectively boosting the economies of many wealthy polluters while dampening growth in much of the developing world. As a result, inequality between the haves and

Is education the keys to the kingdom?

In New York City, home to our nation’s financial markets, a staggering 74 percent of its students are considered economically disadvantaged. They are parallel worlds, a few miles apart and largely invisible to one another. This is an increasing challenge across our country: How do we build a path to economic mobility for more of

The problem with college admissions: a system that perpetuates economic inequality

The recent college admissions scandal, which continues to captivate the nation’s attention, has laid bare the issues that have festered at the heart of college admissions for many years. The government’s indictment of parents who illegally manipulated their children’s applications makes clear how wealthy parents obsess on the prestige of certain colleges. It appears that implicated

How the 1 Percent Is Pulling America’s Cities and Regions Apart

The two gravest challenges facing America today, economic inequality and geographic divides, are increasingly intertwined. Economic inequality has surged with nearly all the growth being captured by the 1 percent, and the economic fortunes of coastal superstar cities and the rest of the nation have dramatically diverged. These two trends are fundamental to a new study by

Want to visualize inequality? View cities from above

FROM THE AIR, drone photography exposes the economic divide within cities. Roads, canals, and fences become barriers that split the land separating the rich and poor. Stark images from Johnny Miller’s series “Unequal Scenes” highlight the uneven development of cities. Makeshift shacks butt against developments in Mumbai. Lots sit empty in Detroit while an adjoining neighborhood

Why Can’t We Close the Racial Wealth Gap?

If the college cheating scandal has reinforced anything, it’s that one of the primary advantages of being wealthy is that the wealthy can buy more advantages. This helps explain why African Americans, who’ve historically been denied wealth, lag in almost every category of society behind whites, who have long benefited from capital extracted from black labor and culture.

Economic Inequality: What It Is and How It Impacts You

It's nearly impossible to read the news these days without running across mentions of economic inequality. In recent months, politicians have debated the merits of raising marginal tax rates on the wealthy, a move proponents say could reduce economic inequalities. Likewise, economic inequality takes center stage when columnists discuss the extreme riches of some of today's business

Londa Schiebinger: Why does gender matter?

Conventional seat belts do not fit pregnant women properly and motor vehicle crashes are the leading cause of fetal death related to maternal trauma. Analyses of sex differences have led to the development of pregnant crash test dummies that enhance safety in automobile testing and design. In medicine, osteoporosis has been conceptualized primarily as a

2019-03-13T10:46:49-05:00Tags: |