Wealth

The ranks of the working poor

Since the Great Recession, the countries of the Organization for Economic Co-operation and Development (OECD) and the European Union have returned to growth. Investment and trade are up and labour markets have followed suit. Even in crisis-hit countries such as Spain and Italy, unemployment is falling. But the jobless rate masks a harsh reality: employment […]

One jarring chart shows how taxes on workers have essentially replaced those on corporations

Workers are a key pillar of the US economy. The payroll taxes that the government collects from their wages sustains two critical programs that benefit tens of millions of Americans: Social Security and Medicare. However, they’re now shouldering more of the tax burden compared to corporations. Recent research from Emmanuel Saez and Gabriel Zucman — […]

The Widening Racial Gap on Jobs and Wealth

The unprecedented diversity of the 2020 Democratic presidential field has already accomplished something significant: it has shone a much-needed spotlight on the stunning disparities in black and white household wealth in America. The median white household, for instance, enjoys ten times the wealth of the median black household, and as many as one in five […]

The ‘Glass Floor’ Is Keeping America’s Richest Idiots At The Top

In 2014, Zach Dell launched a dating app called Thread. It was nearly identical to Tinder: Users created a profile, uploaded photos and swiped through potential matches. The only twist on the formula was that Thread was restricted to university students and explicitly designed to produce relationships rather than hookups. The app’s tagline was “Stay […]

Double tipping points in 2019: When the world became mostly rich and largely old

When it comes to economic development, positive change is typically gradual and only noticeable over long periods of time; by contrast negative developments—economic crises—are often rapid and spectacular. This creates a biased narrative that focuses on negative news, while positive trends go unnoticed because they are less dramatic. Two questions are central to each human […]