Income Inequality

Bankruptcy study points to worsening income inequality in Ontario

Ontario’s consumer insolvency rate per capita is approaching a 15-year low, but the demographics of residents filing for bankruptcy highlights structural income inequalities that may get worse, says the co-author of a biennial study of the province’s endangered debtors.<p>Douglas Hoyes, co-owner of …

Bankruptcy

Wealth and income are two different things

The March 8 news article “Wealth redistribution and the ACA” confused wealth and income. Wealth is about the net value of assets; it is about who owns what and is measured at a particular moment: “On Jan. 1, how much was he worth?” Wealth distribution concerns questions such as “What percentage of …

Wealth

The Controversial Chinese Economist Uncovering Tough Truths - Bloomberg

Economist Gan Li and his researchers at Chengdu’s Southwestern University of Finance and Economics are gearing up for their national survey of …

China

Where the American Dream Lives and Dies

The urban-rural divide is real, but it doesn’t tell the whole story.<p>Rags-to-riches stories, like Benjamin Franklin’s, have always captured the American imagination. They feed the narrative of the American Dream—that from humble beginnings, a scrappy, hardworking person can become prosperous, and …

Housing

Capitalism Will Shrink Inequality. In Fact, It's Happening.

Does capitalist economic growth lead to greater inequality, or less? The mid-20th-century economist Simon Kuznets believed that at first, industrialization would lead to greater inequality as a few pioneering entrepreneurs and workers moved to the cities where the growth was happening. But as rural …

Social Justice

Growing up poor makes it harder to succeed: Janet Yellen

<b>New York (CNN) —</b> Your adult life really does depend on where and how you grew up.<p>That's the conclusion from the Federal Reserve's latest study on the well being of ordinary Americans.<p>"Considerable evidence shows that growing up poor makes it harder to succeed as an adult," Fed Chair Janet Yellen …

Janet Yellen

Getting ahead in the city is hard. In rural America, it’s even harder.

A new report highlights the geographic divide in economic mobility.<p>It has been snowed over by the rallying stock market and the cascade of controversies in the early months of the Trump administration, but the 2016 election revealed a deep economic and geographic divide in America. That divide …

Poverty

The truth about white working-class men

They have lost advantages that women and minorities never had and largely still don't.<p>It's hard out there for a white guy. The anger of the white male ushered Donald Trump into the White House — white men chose him over Hillary Clinton 62% to 31% — and even much of the Democratic Party is now …

Equality

What Defines The Upper Class? No Consensus On Who's Considered Rich In America

If you ask Americans who should be considered wealthy, you’ll get many different answers. But one thread ties those responses together, and it can be …

Social Justice

Republican health bill would widen America's big wealth gap

WASHINGTON (AP) — House Republicans' health care bill provides massive tax cuts to the wealthy while increasing taxes for many lower income families, adding to America's big income gap between the rich and everyone else.<p>Over the past quarter century, only one group of people has seen significant …

Taxes

China’s extreme income inequality finally appears to be falling

Economic inequality is rising in emerging economies across the world, with one very big exception.<p>According to recently research (pdf) by economists from Cornell University and Peking University, income inequality in China is falling. The researchers conclude that, after rising dramatically in the …

Social Justice

DCS latest

DCS latest<p>Latest<p>On a sunny morning in December 2013, as Google employees boarded the bus that would take them on their daily commute from Oakland to the company’s Mountain View headquarters, protesters moved in. One unfurled a bright blue banner bearing the words “F— Off, Google.” Some handed out …

Social Justice

What Inequality Doesn’t Mean

Economic inequality is widely cited as the seedbed of social ills, sprouting plutocracy and corruption, stunting economic mobility, and suffocating …

Social Justice

It’s Not Just Unfair: Inequality Is a Threat to Our Governance

<b>THE CRISIS OF THE MIDDLE-CLASS CONSTITUTION</b><b><br>Why Economic Inequality Threatens Our Republic</b><br>By Ganesh Sitaraman<br>423 pp. Alfred A. Knopf. $28.<p>President Obama labeled income inequality “the defining challenge of our time.” But why exactly? And why “our time” especially? In part because we now know just …

Social Justice

What Defines The Middle Class? Half Of Americans Live In The Center

When President Donald Trump was on the campaign trail, one of his main talking points was the middle class, and, in his words, its destruction.<p>"The …

Middle-class

Fixing Inequality — Vexing, but Not Rocket Science

Even in the face of globalization and technological advance, we shouldn't cede the fight against inequality.

Social Justice

Inequality And The Dark Side Of Politics

One in five children in Canada lives in poverty. One in ten will experience homelessness at some point in their lives. Food banks are overwhelmed. …

Social Justice

Minority Neighborhoods at the Bottom of L.A.'s Economic Ladder Tend to Stay There

A forthcoming compendium of research on neighborhood inequality in the United States finds that residents of low-income Los Angeles County …

Equality

Poor, middle class will pay for Trump's misguided budget | Sires

<b>By REP. ALBIO SIRES</b><p>President Trump's "America First" budget is an affront to the middle class and working Americans and begs the question: which …

Social Justice

Economics: The architecture of inequality

Aaron Reeves surveys five books on the defining social, political and economic issue of our times.<p>After Piketty: The Agenda for Economics and …

Social Justice

Want the American dream? Move to these countries instead...

The American dream — the idea that anyone can own their own home and do better than the previous generation with the right amount of hard work — has been fading for years, with rising house prices and stagnant wages. Now, people who want to achieve it may be better off seeking it in Canada, the …

Social Justice

The great Chinese inequality turnaround | VOX, CEPR’s Policy Portal

Alongside the spectacular growth and extraordinary reductions in poverty – perhaps the most dramatic in human history – the evolution of Chinese …

Social Justice

'A new era' of stagnant incomes: How wages aren't matching the growth of national income

Here's a chart that will make Australian workers scratch their heads.<p>It compares changes in our income as a nation over the past two years to changes …

Dem Kamala Harris tried to blame Trump for ‘shrinking’ middle class — it instantly backfired

Democratic Sen. Kamala Harris (Calif.) took to Twitter late Friday to lament over the “shrinking” middle class, but Twitter users quickly pointed out a huge problem with her tweet.<p>“The middle class is shrinking & income inequality is increasing,” Harris tweeted.<p>“We must focus on the basics: …

Social Justice

Income Inequality, Robots and a Path to a Fairer Society

<i>Earlier this year, Oxfam reported that the world’s eight richest people control roughly the same amount of wealth as the bottom half of the world’s</i> …

Social Justice

The US has a lot of money, but it does not look like a developed country

The US is the world’s largest national economy, and the epitome of industrialization. Because of its wealth, high standards of living, and availability of world-class services, many Americans believe theirs to be one of the better—or outright best—countries in the world to live.<p>Measuring wellbeing …

OECD

The Most Underrated Story About the U.S. Economy

Income growth is faster at the bottom than at the top. Thank a growing economy, falling unemployment, and minimum-wage hikes across the country.<p>For decades, the story was simple: The gap between the rich and the poor grew ever-wider as incomes increased faster at the top than the bottom. The story …

Social Justice

Nobel Prize Winning Economist Blasts America’s ‘Rent-Seeking’ Economy

I’m really grateful Angus Deaton was willing to come out and state the obvious. That is, the fact this economy isn’t what we’ve been told. In …

Social Justice

A surprising financial ailment hobbling American families

A sudden financial windfall is always welcome, right? Not so, researchers say in explaining how income swings can hurt

Retirement

The Working Poor Got Richer in 2016

Say what you want about Donald Trump — the man is good at inheriting valuable things. First, the mogul built a business career off of his wealthy …

Social Justice