September 20, 2013 |
Since the economic disaster of 2008 sent incomes spinning downward and the jobless rate shooting upward, at least one group of Americans has found a path back to prosperity: the top 1%. Over the last four years, the super-rich have been able to rake in 95% of all income gains. That's right, according to a new study by Emmanuel Saez, an economics professor at UC Berkeley, while the number of poor Americans has risen and members of the middle class...
January 28, 2014 |
WASHINGTON - President Obama's sixth speech on the state of the union will spotlight many issues, but more than anything may illuminate the vast gap between his policy ambitions and the tools he has to achieve them. The president made the ambition clear last month, when he referred to a “dangerous and growing inequality and lack of upward mobility” in the United States as the “the defining challenge of our time.” His overriding goal, he has said in speeches and interviews, is to reverse the trend in which incomes for most Americans have stagnated since the late 1970s while the share going to the wealthiest has soared.
June 11, 2000 |
A 1999 Times poll found that nearly 60% of Californians who described themselves as working or lower class expected they would be able to move up the economic ladder. Many at the bottom have, in fact, been making progress during this long expansion. This may be one reason why inequality, a hot topic for politicians and journalists in the 1980s and early 1990s, is getting less play these days. When people at the bottom and top are gaining ground, inequality is less potent.
July 9, 2012 |
For proof of income inequality in America, look no further than the take-home pay of Batman and Spider-Man . Bruce Wayne is a 1 percenter, with an estimated annual income of $102 million. And that excludes the potential extra riches to be had from stock options. Spider-Man, by contrast, can't afford a Batmobile. He's clinging to a modest $50,000-a-year salary - barely enough to cover his tuition at New York University. The figures come courtesy of a blogger at H&R Block and appear to have as much - or as little - basis in reality as the comic strips themselves.
July 19, 1999 |
The "digital divide" has been back in the news recently--but, as usual, only briefly. On July 8, the Department of Commerce's National Telecommunications and Information Administration released its latest report in a series called "Falling Through the Net." This is an ongoing study of telephone, computer and Internet use in the U.S. that can be viewed at http://www.ntia.doc.gov/ntiahome/digitaldivide. In it, the government reported (using 1998 data) that 40% of U.S.
September 16, 2012
A new Census Bureau report confirms that the slowly rising tide of the U.S. economy hasn't lifted all boats. The 20% of Americans with the highest incomes captured an even larger share of the earnings in 2011, while the rest collected the same share or less. The widening income inequality is disturbing, but as the report shows, things could have been considerably worse. Without such safety net programs as unemployment benefits and food stamps, millions more families would have fallen into poverty.
November 11, 2012 |
Click here to download TV listings for the week Nov. 4 - 10 in PDF format This week's TV Movies SERIES Richard Hammond's Crash Course: Richard trains to be one of the crew tasked with changing a wheel in an IndyCar race in Sonoma in an episode that features a drive around the racetrack with legendary driver Mario Andretti (7 and 11 p.m. BBC America). How I Met Your Mother: Barney (Neil Patrick Harris) decides to take action when Robin (Cobie Smulders)
October 30, 2013 |
British bitcoin exchange Coinfloor opened its virtual doors to customers this week with a stated commitment to meeting government regulations and keeping money launderers out. The London-based exchange will officially open to trading Tuesday, but it is allowing customers to sign up and register for accounts beforehand. Coinfloor is launching at a time when bitcoin is facing increased scrutiny after the arrest of Ross Ulbricht, a 29-year-old from San Francisco who allegedly masterminded the online drug emporium Silk Road.
April 14, 1991 |
One of the classic trade-offs in economics is between equity and efficiency. Under many circumstances, arrangements or policies that enhance one of these goals do so by sacrificing some of the other. Since the early 1970s, the U.S. economy has managed to do poorly on both counts.
September 1, 2008 |
Not all that long ago, America's prominent business and government leaders widely believed that our nation's prosperity depended on a strong middle class growing from the bottom up. Workers were rewarded for their hard work with fair wages, benefits and advancement opportunities -- and our economy and our national security were much stronger for it. Henry Ford certainly knew this, and often said that his company would prosper only if his workers...