Income inequality harms rich, too Recently an article appeared in the Bangor Daily News about income inequality. Several additional peer reviewed articles in economic and medical journals are pertinent. One, there is a definite negative correlation between income inequality among nations and GDP growth. Thus income inequality, in the long ...
(1 month and 20 days ago)
Behind the headlines of record stock market highs this week is a more complex story of the inequality that characterizes the American economy. Companies that sell discount goods to low-income buyers struggling with lean employment prospects, such as Walmart and Family Dollar, are racking up enormous sales, sending their stock prices higher as they enjoy success from...
(2 months and 20 days ago)
If there’s one thing that’s certain about media coverage of periods when a Republican is in the White House, it’s that copious amounts of ink will be spilled decrying “rising levels of income inequality” that allegedly threaten our economic health. The assertions are economically bankrupt, but what’s interesting now is that some on the right are now using the same illogic to...
(2 months and 24 days ago)
CALEDONIA — “Cracking the Codes: The System of Racial Inequality,” a documentary that asks America to talk about the causes and consequences of systemic inequality and come together to build a…
(2 months and 14 days ago)
It seems that it’s not just the stock market that is firing on all cylinders, breaking record after record. Last week, Christie’s marquee post-War and contemporary art sale fetched a record $495 million, with more than nine works selling for over $10 million. Amid a stagnating global economy and high unemployment, the ultra-rich are raising the stakes on so-called...
(5 days ago)
Cisco posted third quarter earnings after the bell on Wednesday, beating estimates and delivering a ninth consecutive quarter of “record” revenues. Shares in the large networking and communications firm surged more than 5% in post-market trading.
(9 days ago)
Submitted by Charles Hugh-Smith of OfTwoMinds blog, An independent, critical account of the American economy would soon raise questions about the structural causes of inequality. That some sectors of the economy will be doing better than others is natural. If you're a landlord or mobile-apps coding genius in San Francisco, the economy is excellent. Those working in the...
(17 days ago)
An accessible explanation of how politics and the economy has been hijacked by a financial eliteThis essential book – written by a Nobel prizewinning economist and a former chief economist at the World Bank – offers a readable and accessible explanation of how we have been horribly exploited by a greedy and powerful elite. "Those at the top have learned how to suck out money...
(1 month and 5 days ago)
In today’s moribund Egyptian economy, a man who calls himself Youssef has become a crucial component to keeping the wheels of commerce turning. He’s a black-market money dealer, selling dollars for Egyptian pounds at a markup. With the Egyptian government desperate to keep dollars in the country, banks are limited in how many they may let their clients have. People who need...
(1 month and 27 days ago)
The art market took a hit in the first quarter as sales volume fell 7% compared to 2012, according to market intelligence firm and auction platform artnet. The major problem was the Chinese market where there was a 50% decline in value sold in the first three months of the year, yet there’s light at the end of the tunnel.
(1 month ago)
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