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The American Middle Class Is No Longer the World’s Richest

By David Leonhardt and Kevin Quealy NYTimes APRIL 22, 2014 The American middle class, long the most affluent in the world, has lost that distinction. While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have […]

Rahm Emanuel Faces Public Pension Crisis

Posted: 04/07/2014 11:45 pm EDT Updated: 04/07/2014 11:59 pm EDT AP | by SARA BURNETT Huffington Post CHICAGO (AP) — Rahm Emanuel has been a force in politics — the mastermind behind a Democratic takeover of Congress, dealmaker in two White Houses and now the hard-charging mayor intent on fixing what ails the nation’s third-largest […]

Innovation, Optimism and Jobs

Joe Nocera FEB. 14, 2014 NYTimes Is digital technology destroying middle-class jobs? Does it exacerbate income inequality? Does it boost economic growth and productivity — without creating the jobs that ought to come with economic growth? Last month I gave space to a book titled “Who Owns the Future?” by the computer scientist Jaron Lanier. […]

Detroit Turns Bankruptcy Into Challenge of Banks

By MARY WILLIAMS WALSH FEBRUARY 3, 2014, 9:10 PM NYTimes Detroit’s bankruptcy is rapidly shaping up as a battle of Wall Street vs. Main Street, at least as far as the city’s creditors are concerned. Amy Laskey,a managing director at Fitch Ratings, said in a recent report that she sensed an “us versus them” orientation […]

The Middle Class Is Steadily Eroding. Just Ask the Business World.

By NELSON D. SCHWARTZFEB. 2, 2014 nytIMES In Manhattan, the upscale clothing retailer Barneys will replace the bankrupt discounter Loehmann’s, whose Chelsea store closes in a few weeks. Across the country, Olive Garden and Red Lobster restaurants are struggling, while fine-dining chains like Capital Grille are thriving. And at General Electric, the increase in demand […]

Capitalism vs. Democracy

JAN. 28, 2014 Thomas B. Edsall NYTimes Thomas Piketty’s new book, “Capital in the Twenty-First Century,” described by one French newspaper as a “a political and theoretical bulldozer,” defies left and right orthodoxy by arguing that worsening inequality is an inevitable outcome of free market capitalism. Piketty, a professor at the Paris School of Economics, […]

The Income Gap: How Much Is Too Much?

by YUKI NOGUCHI NPR January 26, 2014 4:43 AM In the debate over income inequality, the right and left seem to agree on one point: The U.S. is the land more of equal opportunity than equal outcomes. But what’s the real relationship between the growing income gap and opportunity? A new report out last week […]

The Populist Imperative

JAN. 23, 2014 Paul Krugman NYTimes “The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes.” John Maynard Keynes wrote that in 1936, but it applies to our own time, too. And, in a better world, […]

Oxfam: Richest 1% own nearly half of world’s wealth

Kim Hjelmgaard, USA TODAY 3:05 p.m. EST January 20, 2014 Editor’s note: This story has been updated to clarify confusion between two sets of numbers in the report. Almost half of the world’s wealth is owned by just 1% of the world’s population, according to a report published just days before the start of the […]

‘Report card’ says US economy is failing | Futurity

Posted by Clifton B. Parker-Stanford on January 20, 2014 Futurity A new report highlights the implications of rising poverty, job loss, and greater inequality in America. The social safety net has performed admirably, but is struggling to meet rising poverty and needs. It gets a mixed grade, while the economy gets an “F” for failing […]