Surging Wealth Inequality Is Poverty’s Greatest Enemy
Crucial here is that the rich become rich precisely because they mass produce former luxuries
Tag: inequality
If We Don’t Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable
Everyone who wants to reduce wealth and income inequality with more regulations and taxes is missing the key dynamic: central banks’ monopoly on creating and issuing money widens wealth inequality, as those with access to newly issued money can always outbid the…
Beyond Income Inequality
Judging by the mainstream media, the most pressing problems facing capitalism are 1) income inequality, the basis of Thomas Piketty’s bestseller Capital in the Twenty First Century, and 2) the failure of laissez-faire markets to regulate their excesses, a common critique…
The Three Stages of Empire
Though Edward Luttwak’s The Grand Strategy of the Roman Empire: From the First Century CE to the Third is not specifically on the rise and fall of empires, it does sketch out the three stages of Empire. Here is the…
Oops! Philly Fed admits QE widens inequality
Once again, the Federal Reserve proves that it’s the last one to know everything that we knew already. Today’s stunning announcement: The Philadelphia Fed admits they (“may have”) made the wealthy wealthier and Main Street poorer. Oops. Sorry America. The Philly…
The Cost of China’s Industrialization
That the China Story is going to implode is already baked into the public health catastrophe that will unfold with a vengeance in the coming decade. The financial pundits gushing over “The China Story”–that the Middle Kingdom’s industrialization is a…
America’s poor are ‘envy of the world,’ says richest Congressman
‘Darrell Issa, the richest man in Congress, said America has made “our poor somewhat the envy of the world.” Asked by CNNMoney whether he feels personally responsible to address income inequality in the United States, […]
The Changing World of Work I: America’s Nine Classes
Eight of the nine classes are hidebound by backward-looking conventions, neofeudal and neocolonial arrangements and a spectrum of perverse incentives and false choices. My theme this week is the changing world of work. The goal of this week’s five-part look…
The Changing World of Work I: America’s Nine Classes
Eight of the nine classes are hidebound by backward-looking conventions, neofeudal and neocolonial arrangements and a spectrum of perverse incentives and false choices. My theme this week is the changing world of work. The goal of this week’s five-part look…
Income, Education and Inequality in the “Recovery”: Prepare to be Surprised
Note to the higher education industry: issuing diplomas doesn’t magically create new jobs in the real world. By virtually any standard, wealth inequality has soared to historic levels in the six years of “recovery” since the Great Recession of 2008-09.…
Income, Education and Inequality in the “Recovery”: Prepare to be Surprised
Note to the higher education industry: issuing diplomas doesn’t magically create new jobs in the real world. By virtually any standard, wealth inequality has soared to historic levels in the six years of “recovery” since the Great Recession of 2008-09.…
The Face of the Oligarch Recovery – Luxury Skyscrapers Stay Empty as NYC Homeless Population Hits Record High
Nowhere is the fraudulent and criminal “oligarch recovery” more on display than in my hometown of New York City. Despite benefitting more than any other community from an enormous taxpayer bailout of the industry that destroyed the economy, financial services, the…