America Has Never Been Wealthier. Here's Why It Doesn't Feel That Way
(nytimes.com)
America is more prosperous than ever.
America is more prosperous than ever.
Decent living standards for 8.5B would require 30% of current resource use
(sciencedirect.com)
Some narratives in international development hold that ending poverty and achieving good lives for all will require every country to reach the levels of GDP per capita that currently characterise high-income countries.
Some narratives in international development hold that ending poverty and achieving good lives for all will require every country to reach the levels of GDP per capita that currently characterise high-income countries.
How the Education Department cuts could hurt low-income and rural schools
(npr.org)
President Trump's efforts to shutter the U.S. Department of Education are in full swing.
President Trump's efforts to shutter the U.S. Department of Education are in full swing.
The top 10% owns 87% of the stocks
(awealthofcommonsense.com)
The top 10% owns 87% of the stocks in this country.
The top 10% owns 87% of the stocks in this country.
The housing theory of everything (2021)
(worksinprogress.co)
Western housing shortages do not just prevent many from ever affording their own home. They also drive inequality, climate change, low productivity growth, obesity, and even falling fertility rates.
Western housing shortages do not just prevent many from ever affording their own home. They also drive inequality, climate change, low productivity growth, obesity, and even falling fertility rates.
Inheriting is becoming nearly as important as working
(economist.com)
Work hard, children are told, and you will succeed. In recent decades this advice served the talented and the diligent well. Many have made their own fortunes and live comfortably, regardless of how much money they inherited. Now, however, the importance of hereditary wealth is rising around the rich world, and that is a problem.
Work hard, children are told, and you will succeed. In recent decades this advice served the talented and the diligent well. Many have made their own fortunes and live comfortably, regardless of how much money they inherited. Now, however, the importance of hereditary wealth is rising around the rich world, and that is a problem.
50 years of tax cuts for the rich failed to trickle down, economics study says
(cbsnews.com)
Tax cuts for the wealthy have long drawn support from conservative lawmakers and economists who argue that such measures will "trickle down" and eventually boost jobs and incomes for everyone else. But a new study from the London School of Economics says 50 years of such tax cuts have only helped one group — the rich.
Tax cuts for the wealthy have long drawn support from conservative lawmakers and economists who argue that such measures will "trickle down" and eventually boost jobs and incomes for everyone else. But a new study from the London School of Economics says 50 years of such tax cuts have only helped one group — the rich.
From Germany, a bold political push for a billionaire-free future
(inequality.org)
From Germany, a bold political push for a billionaire-free future.
From Germany, a bold political push for a billionaire-free future.
A World Without Elon Musks. From Germany, a push for a billionaire-free future
(inequality.org)
From Germany, a bold political push for a billionaire-free future.
From Germany, a bold political push for a billionaire-free future.
The 3-ladder system of social class in the U.S.
(archive.org)
Typical depictions of social class in the United States posit a linear, ordered hierarchy. I’ve actually come to the conclusion that there are 3 distinct ladders, with approximately four social classes on each. Additionally, there is an underclass of people not connected to any of the ladders, creating an unlucky 13th social class. I’ll attempt to explain how this three-ladder system works, what it means, and also why it is a source of conflict.
Typical depictions of social class in the United States posit a linear, ordered hierarchy. I’ve actually come to the conclusion that there are 3 distinct ladders, with approximately four social classes on each. Additionally, there is an underclass of people not connected to any of the ladders, creating an unlucky 13th social class. I’ll attempt to explain how this three-ladder system works, what it means, and also why it is a source of conflict.
In Farewell Address, Biden Warns of an 'Oligarchy' Taking Shape in America
(nytimes.com)
President Biden on Wednesday warned that an “oligarchy” of the ultrawealthy was emerging in America, sounding the alarm about unchecked power as he gave a farewell speech to the nation just days before he surrenders office to a man he disdains.
President Biden on Wednesday warned that an “oligarchy” of the ultrawealthy was emerging in America, sounding the alarm about unchecked power as he gave a farewell speech to the nation just days before he surrenders office to a man he disdains.
Bank of Mum and Dad: why we all now live in an 'inheritocracy' (2024)
(theguardian.com)
Family wealth dictates our life choices. So is the Bank of Mum and Dad now behind so many of society’s growing inequalities?
Family wealth dictates our life choices. So is the Bank of Mum and Dad now behind so many of society’s growing inequalities?
The cod-Marxism of personalized pricing
(pluralistic.net)
The social function of the economics profession is to explain, over and over again, that your boss is actually right and that you don't really want the things you want, and you're secretly happy to be abused by the system. If that wasn't true, why would your "choose" commercial surveillance, abusive workplaces and other depredations?
The social function of the economics profession is to explain, over and over again, that your boss is actually right and that you don't really want the things you want, and you're secretly happy to be abused by the system. If that wasn't true, why would your "choose" commercial surveillance, abusive workplaces and other depredations?
It's Still Easier to Imagine the End of the World Than the End of Capitalism
(astralcodexten.com)
No Set Gauge has a great essay on Capital, AGI, and Human Ambition, where he argues that if humankind survives the Singularity, the likely result is a future of eternal stagnant wealth inequality.
No Set Gauge has a great essay on Capital, AGI, and Human Ambition, where he argues that if humankind survives the Singularity, the likely result is a future of eternal stagnant wealth inequality.
McKinsey, technocratic management, and structural inequality
(theatlantic.com)
Technocratic management, no matter how brilliant, cannot unwind structural inequalities.
Technocratic management, no matter how brilliant, cannot unwind structural inequalities.
Remote Work Is Increasingly a Right of the Rich
(nytimes.com)
When it comes to remote work, the C-suite wants workers to do as they say, not as they do.
When it comes to remote work, the C-suite wants workers to do as they say, not as they do.
How the 1980s Engineered the Collapse of the Working Class
(thewalrus.ca)
Forty years later, policies to prop up the super rich are still going strong
Forty years later, policies to prop up the super rich are still going strong
The science behind winning a Nobel Prize? Being a man from a wealthy family
(theguardian.com)
A lot of talent is wasted in a world where more than half of laureates come from households in the richest 5%
A lot of talent is wasted in a world where more than half of laureates come from households in the richest 5%
How the 1980s Engineered the Collapse of the Working Class
(thewalrus.ca)
Forty years later, policies to prop up the super rich are still going strong
Forty years later, policies to prop up the super rich are still going strong
How the Ivy League Broke America
(theatlantic.com)
The meritocracy isn’t working. We need something new.
The meritocracy isn’t working. We need something new.
The data hinted at racism among white doctors. Then scholars looked again
(economist.com)
BLACK BABIES in America are more than twice as likely to die before their first birthday than white babies. This shocking statistic has barely changed for many decades, and even after controlling for socioeconomic differences a wide mortality gap persists. Yet in 2020 researchers discovered a factor that appeared to reduce substantially a black baby’s risks.
BLACK BABIES in America are more than twice as likely to die before their first birthday than white babies. This shocking statistic has barely changed for many decades, and even after controlling for socioeconomic differences a wide mortality gap persists. Yet in 2020 researchers discovered a factor that appeared to reduce substantially a black baby’s risks.
The silly rule that keeps housing costs high
(nytimes.com)
In too many American cities, numerous downtown office buildings sit barely used, their absence of workers gutting nearby businesses. Meanwhile, hundreds of residents, too poor to afford shelter, sleep on the streets. Addressing these problems is within our grasp.
In too many American cities, numerous downtown office buildings sit barely used, their absence of workers gutting nearby businesses. Meanwhile, hundreds of residents, too poor to afford shelter, sleep on the streets. Addressing these problems is within our grasp.
Billionaires are 'ultimate beneficiaries' linked to €3B of EU farming subsidies
(theguardian.com)
The European Union gave generous farming subsidies to the companies of more than a dozen billionaires between 2018 and 2021, the Guardian can reveal, including companies owned by the former Czech prime minister Andrej Babiš and the British businessman Sir James Dyson.
The European Union gave generous farming subsidies to the companies of more than a dozen billionaires between 2018 and 2021, the Guardian can reveal, including companies owned by the former Czech prime minister Andrej Babiš and the British businessman Sir James Dyson.
Scurvy in the Age of Billionaires
(jacobin.com)
Once banished to history books, scurvy is making a comeback in wealthy countries thanks to soaring economic inequality.
Once banished to history books, scurvy is making a comeback in wealthy countries thanks to soaring economic inequality.
My Country Is Cruel to Anyone Outside of a Car
(oliverobscure.xyz)
My country is cruel to anyone outside of a car.
My country is cruel to anyone outside of a car.
Off grid is a win for some, but a threat for poorer families and the environment
(theconversation.com)
How would you like to never have another electric bill? Advances in technology have made it possible for some consumers to disconnect from the power grid — a move that was once only available to the ultra-wealthy who could afford the associated costs, or survivalists willing to trade convenience for freedom. This is no longer the case.
How would you like to never have another electric bill? Advances in technology have made it possible for some consumers to disconnect from the power grid — a move that was once only available to the ultra-wealthy who could afford the associated costs, or survivalists willing to trade convenience for freedom. This is no longer the case.
Ask HN: Why aren't you solving real problems?
(ycombinator.com)
We live in an age of mass inequality. Many are sleeping in the streets. Tent villages have popped up all over the country. Many more live in their cars. We have an obesity epidemic and now rather than addressing the root problems that lead to the obesity epidemic we have an expensive highly profitable pharmaceutical solution. Kids don't feel safe in schools and rightfully so.
We live in an age of mass inequality. Many are sleeping in the streets. Tent villages have popped up all over the country. Many more live in their cars. We have an obesity epidemic and now rather than addressing the root problems that lead to the obesity epidemic we have an expensive highly profitable pharmaceutical solution. Kids don't feel safe in schools and rightfully so.
Corruption Fuels Inequality: Staggering Graft Warps China's Economy
(foreignaffairs.com)
After Chinese President Xi Jinping rose to power in 2012, his government launched a sweeping anticorruption campaign that attracted worldwide attention for its scope and determination.
After Chinese President Xi Jinping rose to power in 2012, his government launched a sweeping anticorruption campaign that attracted worldwide attention for its scope and determination.
Billionaires and the Evolution of Overconfidence
(forkingpaths.co)
To understand billionaires, you need to understand horizontal inequality, illusory control, self-selection bias, quantified self-worth, and the evolution of overconfidence.
To understand billionaires, you need to understand horizontal inequality, illusory control, self-selection bias, quantified self-worth, and the evolution of overconfidence.