income inequality

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U.N. Rights Chief Warns Of Threats From Inequality

Income inequality and disparities in access to resources are factors that pose serious threats to human rights across the globe and have already sparked violent protests in some countries, a top United Nations official said Wednesday. Speaking in Geneva, U.N. High Commissioner for Human Rights Michelle Bachelet referred to recent protests in Sudan, Haiti and

2019-03-09T14:59:35-05:00Tags: |

Why cities aren’t working for the working class

MIT economist David Autor made news in January, when he delivered the prestigious Richard T. Ely Lecture at the annual meeting of the American Economic Association and presented an attention-grabbing finding about the U.S. economy. Cities no longer provide an abundance of middle-skill jobs for workers without college degrees, he announced, based on his own

2019-02-25T02:43:32-05:00Tags: |

Income inequality is rising so fast our data can’t keep up

Wages at the top of the income distribution continue to rise much more rapidly than wages for everyone else, according to an analysis of the latest federal data by the Economic Policy Institute, a progressive think tank. But the data are just as notable for what they don’t say, according to the report by EPI economist Elise Gould.

Income inequality: firms have been reducing profit-sharing with workers

Stagnating real wages and falling labour shares across developed economies have stimulated a renewed interest in the question of how, and to what extent, rents are shared with labour. Nicholas Kaldor’s (1957) long-held stylised fact that the fraction of national income going to labour is fixed has been questioned, for instance, by Karabarbounis and Neiman (2014), who show

Why income inequality is bad for the climate

In recent decades, income inequality has increased in almost all OECD countries. The average income of the richest 10% of the population today is about nine times as high as the average income of the poorest 10%. Twenty-five years ago, it was seven times as high. While overall prosperity has increased in recent decades, growth

City Governments Should Focus On Opportunity, Not Income Inequality

The common belief today is that income inequality has exploded—the rich are getting richer while the incomes of the middle class and poor stagnate. But a new study from the Urban Institute reviews several studies on income inequality and finds that this perception is not accurate. Unfortunately, earlier incomplete studies have influenced several state and local governments,

Income Inequality Has Soared The Most In These 101 U.S. Cities

Income inequality is a worsening issue in the United States in recent decades. As several experts have pointed out, including  Professor Robert J. Gordon, author of "The Rise and Fall of American Growth," income inequality has substantially increased since the mid-1970s. Over the course of the 2000s, the level of inequality accelerated, and recently the Economic

Employee Stock Ownership Plans: Can They Close the Wealth Gap?

Much has been written about the growing trend of income inequality in the US; we hear less often about the wealth divide, which is even more stark. While the top 10 percent of US households today own 51 percent of the country’s wealth, the bottom 50 percent own one percent. With no savings to fall back on, families

After The Fall: Income Inequality and the Great Recession

If there’s any point of agreement amongst the many ten-year anniversary eulogies of the 2008 recession, it is that at some point the crisis ended. The nearly nine million jobs that were lost in the crisis are just as cemented in the history as the most popular phone at the time — the Motorola RAZR. Disagreements remain on the

Income inequality, financial crisis and the rise of Europe’s far right

Destinations by Design (DBD), a provider of high-quality destination management and event services to the incentive and corporate markets in Las Vegas for 28 years, has announced that effective November 5, 2018, the company’s stock has been sold to its employees through an Employee Stock Ownership Plan (ESOP). Representing a tangible way to reward those who have

Some People Hate Income Inequality So Much They Pretend It Doesn’t Exist

Twitter can highlight some interesting intellectual chiaroscuro. Left-leaning think-tank Center for Economic and Policy Research posted this today: Robert Samuelson Is Denying Inequality, Again  Samuelson was dancing around whether incomes had actually risen or not. CEPR made some good points, but I think missed the most fundamental ones. First, to Samuelson, who wrote about the

A better way to share the wealth

Many Washington conversations about inequality focus on income. The amount of money that American workers and families make is indeed important for their economic security—on average, wages and salaries account for nearly 80% of income for U.S. households. The income inequality and wage stagnation that have persisted for decades certainly pose threats to the health of

Bernie Sanders And Tucker Carlson Agree On Income Inequality. Why Can’t Democrats And Republicans?

I've never watched Tucker Carlson's program on Fox but am aware of his reputation. Profiles of him in major media have tended to have one slant. Coming across a one in the American Conservative by Alan Pell Crawford, I gave a read and found a surprising passage: This raises a question: Can you be a conservative if

The world’s paying too high a price for inequality …

Joseph Stiglitz at Columbia University reminded us in the Scientific American this month that just three Americans – Jeff Bezos, Bill Gates and Warren Buffett – account for more wealth than the entire poor half of the US population. As I watched the six pallbearers bringing Walter Kwok Ping-sheung’s coffin out of St John’s Cathedral last Thursday,

Investors Can And Should Address The Fundamental Causes Of Income Inequality

Investors are increasingly aware of the system-level effects of their investments. In a previous post I have written about how the very large asset owners and asset managers have to consider whether their investments are making a positive or negative contribution to the financial, environmental, and social systems that support human life on Earth. Sudden shocks (e.g.,

Why Silicon Valley Income Inequality Is Just a Preview of What’s to Come for the Rest of the U.S.

Silicon Valley companies continue to pump out disruptive technology that's fueling regional and national economic growth. But according to a new report, they're also producing income inequality. A team of researchers at the Everett Program at UC Santa Cruz studied federal and regional income statistics and found that in Silicon Valley, wages are sliding backwards rather than following the rise

China’s Racing to the Top in Income Inequality

During China’s greatest period of economic growth, fed by widespread industrialization that lifted millions out of poverty, inequality has also increased — at the fastest pace and to the highest level in the world. It may get worse. China’s Gini coefficient, 1 a widely used measure of income dispersion across a population, has risen more steeply over the last decade than

By the numbers: Americans are barely in control of their money

In an era of financial-services innovation, money remains one of the great stressors in our lives. By the numbers: 5% of Americans with checking accounts rack up more than 50% of all the country's overdraft and bounced-check fees. It's a $35 billion income stream for the banks, even after Dodd-Frank. Needless to say, those 5% of Americans are

50 years of rising income inequality has created a ‘new gilded age’ in the US

Reactions to the Great Recession like the Occupy Wall Street movement brought to national attention just how massive the wealth gap in the United States had become. Even as the economy recovered, the gap between the top 1% of earners and the rest of the population has continued to increase. This is according to an extensive

How ‘Crazy Rich’ Asians Have Led to the Largest Income Gap in the U.S.

The leads of the new romantic comedy “Crazy Rich Asians” are precisely what you might expect, based on the title: picture-perfect images of the immigrant success story. Viewers might even get the impression from watching the film that every Asian lives a charmed life. Nick Young (played by Henry Golding) and Rachel Chu (Constance Wu)