The Return of Vulture Capitalism

In 1913 the great American lawyer Louis Brandeis railed against “The Curse of Bigness” in Harper’s Weekly, documenting the troubling concentration of economic power among the new tycoons and trusts of the industrial age, from railroads to steel to oil. By establishing monopolies, he argued, these private actors could dictate prices and shape the terms […]

Don’t Blame the Boomers

I was inspired by this piece in the Boston Globe, about how baby boomers have ruined everything, to go into the Survey of Consumer Finances and see just how well the boomers are actually doing, at least as far as wealth goes. The answer, as with all things, is it depends on what class of […]

Inequality Update: Who Gains When Income Grows?

(Refer to full article for chart.) The chart illustrates that with every postwar expansion, as the economy grew, the bottom 90% of households received a smaller and smaller share of that growth. Even though their share was falling, the majority of families still captured the majority of the income growth until the 70s. Starting in […]