Just how far has the working class been left behind by the winner-take-all economy? A new analysis by the RAND Corporation examines what rising inequality has cost Americans in lost income—and the results are stunning. A full-time worker whose taxable income is at the median—with half the population making more and half making less—now pulls […]
The Black-White Wage Gap Is as Big as It Was in 1950
That’s remarkable. Despite decades of political change — the end of enforced segregation across the South, the legalization of interracial marriage, the passage of multiple civil rights laws and more — the wages of black men trail those of white men by as much as when Harry Truman was president. That gap indicates that there […]
The U.S. Is Lagging Behind Many Rich Countries. These Charts Show Why.
The United States is different. In nearly every other high-income country, people have both become richer over the last three decades and been able to enjoy substantially longer lifespans. But not in the United States. Even as average incomes have risen, much of the economic gains have gone to the affluent — and life expectancy […]
U.S. income inequality at highest level in 50 years, economic gap growing in heartland
The gap between the haves and have-nots in the United States grew last year to its highest level in more than 50 years of tracking income inequality, according to Census Bureau figures. Income inequality in the United States expanded from 2017 to 2018, with several heartland states among the leaders of the increase, even though […]
New Deal, new patriots: How Roosevelt’s welfare programmes made America great again
Without a Leviathan to defend him, the life of man is “nasty, brutish, and short”, as Thomas Hobbes argued. However, for each individual bearing arms, the decision to fight is tricky. The cost can be extreme – he runs the risk of death. The benefits are also large, but they accrue to the collective. In […]
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