CALIFORNIA | LOCAL
October 7, 1999 |
A few days ago, the U.S. Census Bureau released its annual report on income and poverty in the United States, including data on income distribution. As it does every year, the Census found a yawning income gap between the rich and the poor. However, the report is a gross exaggeration; the income gap is a gully, not a canyon. The Census Bureau measures income distribution by dividing society into fifths, or quintiles, and then calculating the share of total income received by each.
October 18, 2013 |
There's a phrase that has haunted America for decades, one fraught with failure: "Breaking the cycle of poverty. " Despite the ongoing efforts of government and a host of private foundations, income inequality continues to grow and the poor are ever more likely to remain poor. Many factors favor the rich getting richer while the poor stagnate. The wealthy benefit from economies of scale, as the best prices and lowest interest rates are more readily available to those who least need them.
October 24, 2013 |
SAN FRANCISCO - Speaking before a gathering of women in technology, Facebook Chief Operating Officer Sheryl Sandberg recalled an uncomfortable exchange with two men on a different stage discussing the scarcity of women in the industry. One commented that he would like to hire more young women but not all are as competent as Sandberg. The other said he, too, would hire more young women but his wife fears he would sleep with them and, he confessed, he probably would. Sandberg's husband, Silicon Valley entrepreneur Dave Goldberg, told her later that night that the men did her a favor with their honesty.
September 27, 2010 |
For all the talk these days of porous borders and external threats to the United States, the core of our sense of security and identity as a nation has always come from within. What's surprising, perhaps, is that it derives less from our vaunted democracy or our freedoms than it does from that rather nebulous notion we call the American dream. The dream is the glue that keeps us all together. It's the vague promise that our lot will get better over time that gives us the patience to endure whatever indignities we suffer at the moment.
September 14, 2013 |
Never let a crisis go to waste, says an old rule of politics. For some major players in the economy, the financial crisis that began five years ago this month with Lehman Bros.' collapse turned out to be as much an opportunity as a calamity. Although the memories that the anniversary evoke are overwhelmingly grim - cascading home foreclosures, bank failures, massive layoffs, diving stock prices - five years later some spectacular winners have emerged from the maelstrom, along with a more familiar list of pitiable losers.
October 1, 2013 |
Los Angeles has more charter schools than any other school district in the nation, and it's a very bad idea. Billionaires like privately managed schools. Parents are lured with glittering promises of getting their kids a sure ticket to college. Politicians want to appear to be champions of "school reform" with charters. But charters will not end the poverty at the root of low academic performance or transform our nation's schools into a high-performing system. The world's top-performing systems - Finland and Korea, for example - do not have charter schools.
November 23, 2009 |
Great crises have a way of reminding us that acting as though we know perfectly well what the future holds almost always leads to disaster. That's especially true in economics, which tends to underscore the murkiness of the real world by dealing out surprises one after another -- booms, crashes, bubbles, you name it. It's fitting, therefore, that the recent economic meltdown has begun to restore that great apostle of uncertainty, John Maynard...
October 9, 2013 |
Global wealth levels have set records, but in Russia, the explosion in wealth has given way to the highest income inequality level, a new report showed. In Russia, just 110 people own 35% of the country's wealth, according to a report released Wednesday by Credit Suisse. The country (population 139 million) has the highest wealth inequality in the world, save for a few Caribbean islands, the report said. To put that into context: Worldwide, there is 1 billionaire for every $170 billion in household wealth.