The wedges between productivity and median compensation growth | Economic Policy Institute
http://www.epi.org/publication/ib330-productivity-vs-compensation/ Income inequality has grown over the last 30 years or more driven by three dynamics: rising inequality of labor income (wages and compensation), rising inequality of capital income, and an increasing share of income going to capital income rather than labor income. As a consequence, examining market-based incomes one finds that “the top 1 […] more…
The 1% May Be Richer Than You Think, Research Shows – Bloomberg
The 1% May Be Richer Than You Think, Research Shows – Bloomberg http://mobile.bloomberg.com/news/2014-08-06/the-1-may-be-richer-than-you-think-research-shows.html The 1% May Be Richer Than You Think, Research Shows The 1 percent is literally rich beyond measure, depriving nations of billions in tax revenue and obscuring shifts in global inequality. Research conducted separately by European Central Bank economist Philip Vermeulen and […] more…
No More Tale of Two Cities? How de Blasio’s 2015 Budget Could Make New York More Equal
New York Mayor Bill de Blasio with former Obama advisor David Axlerod and Atlanta Mayor Kasim Reed, March, 6, 2014 (AP Photo/Paul Beaty) “Budgets are not just a collection of numbers, they are not just an accounting document,” said New York City Mayor Bill de Blasio when he revealed his FY 2015 budget last week. “They reflect fundamental values.” […] more…
Plutocrats Feeling Persecuted
http://nyti.ms/1fKD9jY Robert Benmosche, the chief executive of the American International Group, said something stupid the other day. And we should be glad, because his comments help highlight an important but rarely discussed cost of extreme income inequality — namely, the rise of a small but powerful group of what can only be called sociopaths. For […] more…
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