Economic Inequality

How Driverless Cars Could Drive Even Deeper Economic Inequality

Trulia’s chief economist says that as the wealthy move to the exurbs and work in their cars during their long commutes, it will change the fabric of our communities. How can we fix it? The reports of suburbia’s death have been greatly exaggerated. The emergence of driverless cars–like past innovations in transportation technology–will actually put

Rise of Agriculture to Blame for Inequality?

Researchers at Washington State University and 13 other institutions have found that the arc of prehistory bends towards economic inequality. In the largest study of its kind, the researchers saw disparities in wealth mount with the rise of agriculture, specifically the domestication of plants and large animals, and increased social organization. Their findings, published this

2017-11-15T16:36:05+00:00 Tags: |

Richest 1% own half the world’s wealth, study finds

The globe’s richest 1% own half the world’s wealth, according to a new report highlighting the growing gap between the super-rich and everyone else. The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140tn (£106tn), according to

A new study finds innovation leads to inequality in cities

There’s a reason Silicon Valley is notoriously unequal—and it’s not just a matter of misconception or misplaced blame. Between 1990 and 2010, the tech industry’s growth directly caused San Francisco and San Jose’s inequality to grow as well, according to the preliminary draft of a study conducted by researchers from Northwestern University and the University of Toronto.

Economic Inequality & Crony Capitalism: Conservatives Should Rethink Their Views

Conservatives have two intellectual commitments that are increasingly incompatible. They believe that the American economy is clogged up with crony-capitalist corruption that hands out special favors and protections to organized interests. They also hold that economic inequality — in particular, the surging share of total income earned by those at the very top — is

The Often Overlooked Solution to Income Inequality

Over the past few decades, as factories have closed as those jobs have become increasingly more automated or sent overseas, hospitals have remained in urban centers. Many of those institutions now serve the same economic function of early industry leaders. In my hometown of Pittsburgh, for example, the University of Pittsburgh Medical Center now occupies

Income inequality has been growing for decades and Americans are taking note

While income inequality is largely unavoidable, the magnitude of inequality in the US today is staggering. For context, CEO compensation in the 1960s was around 20 times more than the average American worker. Using the same metric, today’s CEOs are paid over 270 times more than the typical worker. Some analysts suggest that this massive gap

To fix income inequality, we need more than UBI—we need Universal Basic Assets

”Open a newspaper—or, more likely, click on a Facebook article on your phone—and there will be a story telling you that income inequality is at the root of America’s problems: 0.1% of the US population is worthalmost as much as the bottom 90%; CEO-to-worker pay ratios have increased thousand-fold since 1950; and wages have been stagnatingfor 35 years. But

Income inequality has been growing for decades and Americans are taking note

While inequality has always been with us, in the US it has reached unprecedented levels. But, are Americans aware of this increasing inequality? In new research, William W. Franko finds that how people experience income inequality can be shaped by how their state has experienced it, and that overall the public are aware of the extent to

The harsh truth about economic inequality, based on thousands of years of evidence

Income inequality has always been with us. Ever since humans started farming, some have done better than others. The pattern holds from the Stone Age through Ancient Rome to World War II. Has anything leveled the gap between the rich and poor? Walter Scheidel, a professor of Roman History at Stanford University, in his new

Higher Taxes On The Rich Are Not Enough To Stop Inequality

Economic inequality is one of the most prominently debated issues of the day, fueled partly due to the fact economic inequality has risen over the past few decades. This has caused some people to investigate the causes of the inequality and an overlapping set of people to demand government action to combat the inequality. Last

Inequality makes growth less sustainable, IMF says

  Income inequality has been rising so rapidly in the United States and around the world that it threatens to make economic growth less durable, according to research from the International Monetary Fund. "While strong economic growth is necessary for economic development, it is not always sufficient," four IMF economists write in a new blog. "Inequality has risen

America’s terrible racial wealth divide is undermining the middle class

America is heading toward “a racial and economic apartheid state.” As the country becomes more diverse, today’s wealth gaps between whites and non-whites are poised to grow unless government policies helping people build personal wealth are reformed. That is the takeaway from a dramatic new report, “The Road to Zero Wealth,” co-authored by the Institute for Policy

How U.S. News college rankings promote economic inequality on campus

America’s universities are getting two report cards this year. The first, from the Equality of Opportunity Project, brought the shocking revelation that many top universities, including Princeton and Yale, admit more students from the top 1 percent of earners than the bottom 60 percent combined. The second, from U.S. News and World Report, is due on

Wealth inequality is even worse than income inequality

You probably know the numbers on income inequality by now: The share of all income going to the top 1 percent of Americans now stands at around 20 percent, which is a big and disturbing number. But what about wealth inequality? Income is a relatively straightforward matter of wages and compensation. Wealth is more mercurial: It can be a

Equal by Catastrophe

In his new book, Walter Scheidel offers a simple, though jarring, story of how past societies struggled with inequality. The Great Leveler is a cautionary tale to policy makers who believe in economic redistribution as a means to level the playing field. A professor of ancient history at Stanford University, Scheidel’s thesis unfolds in the

2017-08-29T19:44:20+00:00 Tags: |

Economic Inequality and the Future of Democracy: Tracking the Conversation

When talking about the “hollowing out of the middle class,” the data bears repeating. In our nation today, half the working population earns less than $35,000 per year. Despite increasing productivity over the last 40 years, wages have not risen; in fact, the largest portion of that increased wealth has gone to the top 20 percent,

Wealth disparity and brain development

Female teenagers living in neighbourhoods with wide salary gaps and a low-income household show changes to their brain maturation that could indicate a higher risk of developing mental illness in adulthood, suggests a recently published study by Canadian researchers. The research, led by Baycrest’s Rotman Research Institute (RRI), found that female adolescents in these living

2017-08-23T08:15:14+00:00 Tags: |

Smartphone tracking shows fear affects where youth spend time

COLUMBUS, Ohio – Youth spend less time in their neighborhoods if area residents have a high fear of crime, according to a new study that used smartphones to track kids’ whereabouts. Researchers found that adolescents aged 11 to 17 spent over an hour less each day on average in their neighborhoods if residents there were

2017-08-15T07:27:43+00:00 Tags: |

If We Care About Inequality, We Must Confront Capital

The top of society extracts nearly $5 trillion every year without working for it. The United States is an enormously wealthy country. In 2015, total household wealth stood at $71.3 trillion.  This is equal to $220,000 per person, or $880,000 for every family of four, if the wealth was distributed evenly throughout society. The owners of