Why has the investor class been getting richer for decades as the working class’s share of the pie grows smaller? One prime reason is: our system, left unchecked, leads inevitably towards monopoly, which eats us all alive.
Hi, my name is Panama Jackson, and I’m addicted to Target. I don’t know how it happened. Look—walking into Target to buy some Mucinex and walking out with a blender, some new bedsheets, a hammer and a new backpack isn’t unique. Nearly everybody who walks into Target leaves $100 lighter than expected.
The slow collapse of traditional retailing is attributable to Amazon more than any other single company. We’re sad to report, then, that a new study finds that a new Amazon warehouse won’t create any jobs in your decrepit town, at all.
The United States is one of the wealthiest countries on earth. The small percentage of people who hoard that wealth are likely to have a very good year. The markets are booming with no end in sight, and the Republican tax plan is already doing what it was designed to do: entrenching the wealth and power of large…
This month, Thea Lee took over as president of the Economic Policy Institute, America’s premier left-wing economic think tank. We spoke to her about Trumponomics and the fight for equality.
Before the 2008 economic recession hit, Prince George’s County was one of the wealthiest majority-black counties in America. After the U.S. housing market went into a death spiral, the Maryland county became one of the areas hit hardest by the subprime lending crisis. Between 2012 and 2013, P.G. County saw a 50…
Given the fact that economic inequality has been rising for nearly four decades, it’s natural to assume that government redistribution of wealth has disappeared. According to a new study: Not so! But that raises even more sinister questions.
We don’t tend to look at the wealth gap as a form of violence, even though it’s certainly rooted in it.
Because economic inequality is such a persistent, pervasive, and growing problem in America, many people assume that any solution to it must be very complicated. Not true! For example:
There were other economic factors I could have mentioned in this cartoon, such as tax policy that promotes extreme inequality, or companies offshoring, or the entire perverse system of Wall Street incentives that benefits the investor class at the expense of workers. And there’s also the much-ignored fact that …
The first step of confronting a problem is to name it. “Market fundamentalism,” a term I picked up from George Lakoff, should be a catchphrase on the tips of everyone’s lips. It has become THE defining force — paired with racism — of Americans’ economic lives. Pundits and Democratic politicians should be throwing…
In 1950, America was a very different place. Bobby socks, and uh, socially acceptable white supremacist terrorism. On the upside: Unions were strong as hell, and nobody benefited more from that than those at the bottom.
Their GDP growth numbers are whack, especially when compared to the rest of the G7, a new report finds.
The decades-long trend of inequality afflicting the United States basically works like this: The rich have gotten much richer, and everyone else has stayed stuck. New research will make you even less sympathetic to the motherfucking CEOs who’ve gotten very rich in the past 20 years.
Since the late 1970s, the United States has experienced a dramatic upsurge of economic inequality. New data reveals that China has too, following capitalism’s path into both wealth and incredibly unfair distribution of that wealth.
If you’re the president people are gonna disagree with you, sure, but if 1,500 economists including many in your own party send you a letter telling you you’re an idiot, then brother—you gotta know you’re an idiot.
This week, everyone is asking some variation of this question: