Amazon CEO Jeff Bezos is the richest man in the world, with a net worth of $127 billion. Meanwhile, a staggering number of Amazon’s warehouse employees depend on food stamps to stay alive.
A rule of thumb that is pretty useful: Any political figure who says that they want to help the “white working class” is much more interested in helping white people than in helping the working class.
How fucked up is the American housing market, one of the biggest drivers of inequality? In many cities, the financial reward for owning a home is even bigger than the reward for having a job.
The CEOs of America’s biggest companies saw their median pay rise to $11.6 million last year, an all-time high. Of course, stock values are hitting all-time highs as well. These huge pay packages are a reward. So what about the rest of us?
The American Dream has always been built on a false sense of equal opportunity for upward mobility in this country, but a recent study found just how shaky a foundation that myth rests on.
Four hours west of Albuquerque, over the mud brown desert hills, past the impossibly expansive golden plains strewn with flat-topped mountains pressed on god’s griddle, north of Gallup, New Mexico, “The Most Patriotic Small Town in America,” in tiny Chinle, Arizona, off Indian Route 7, on a dirt-paved side street not…
Starting this year, America’s public companies are required to tell you how much the CEO earns as compared to the median worker. The distress surrounding this disclosure of basic facts is odd. After all, we’re all valuable team members in this company, right?
Since Republicans in Congress passed their sweeping, mind-bogglingly regressive tax legislation in December, people have wondered whether companies will use their tax windfalls on capital investments—also known as “spending money on doing business things, instead of hoarding it”—and how much of this new money would…
Nice Oscar awards last night. Lots of talk about equality and women’s empowerment. The biggest and most prominent advertiser supporting the ceremony: Walmart. Hmm.
For an entire century, the corporate class in America has dreamed of destroying organized labor, which eats into their ability to amass endless profits. They’ve chipped away at unions for 40 years. Now, it is no exaggeration to say that they are two steps away from total victory.
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.
Apart from the task of deciding how things should be done morally, there is the more mundane but equally important task of accurately describing how things are done. In American politics, our failure at morality is complete. Our failure to describe this failure makes everything worse.
Davos is the absence of class consciousness in public life.
Every year, when all the world’s most powerful people gather in Davos, Oxfam releases a report quantifying the state of global economic inequality. It’s one of the most aptly-timed annual reports! Here are the grotesque highlights.
Outside a squat, one-story building on Chicago Avenue on the south side of Minneapolis, Alexis Collins, a 20-year-old Taco Bell employee, stands holding her baby, both of them bundled up against the piercing Minnesota wind. On the wall behind her, stretching all the way up to the roof, is a multicolor mural of a woman…
The CEO of the world’s largest money manager has decided—to much fanfare—to tell corporate America that they must “serve a social purpose” and make a “positive contribution to society.” The spectacular delusion and hypocrisy that enable such a statement to be made is something worth examining for its sheer shock…
French economist Thomas Piketty became a teen heartthrob a few years ago by positing that the rate of return on capital is naturally greater than the rate of economic growth, which means the rich will get richer until we tie them all up and rob them. Was he correct? New research says: O Yeah!