Tale Of Two Depressions

Mainstream economists continue to discuss the two great crises of capitalism during the past century just like the pillars of society performed in the brothel—a “house of infinite mirrors and theaters”—in Jean Genet’s The Balcony.* The order they represent is indeed threatened by an uprising in the streets, and the only ... Read more

What Does Inequality Cost The Average American? About $150K

Belgian waffles. Belgian beers. Americans love ’em. But what Americans really need from Belgium has nothing to do with beer or breakfast treats. We need Belgium’s much more egalitarian distribution of wealth. The English philosopher Francis Bacon once long ago compared wealth to manure. ... Read more

Fixing The Crisis Of ‘Runaway Wealth’

The next Congress faces a stunning array of challenges — on health care, gun policy, climate change, you name it. One crucial challenge starved of attention, however, is what I call runaway inter-generational wealth. That’s where the wealth of a country’s richest families snowballs from one generation to the ... Read more

The Evidence Pours In: Poverty Getting Much Worse In America

According to the Credit Suisse 2018 Global Wealth Databook, 34 million American adults are among the WORLD’S POOREST 10%. How is that possible? In a word, debt. In more excruciating words: stifling, misery-inducing, deadly amounts of debt for the poorest Americans. And it goes ... Read more

Wealth Of Three Richest US Families Grew By 6,000% Since 1982

One troubling indicator that we are drifting toward a society governed by the wealthy is the expanding fortunes of multi-generational wealth dynasties. The three wealthiest US families are the Waltons of Walmart, the Mars candy family and the Koch brothers, heirs to the country’s ... Read more

Waffles, Beer, And The Penalty We Pay For Tolerating Inequality

Belgium is spreading about as well as any nation on Earth, according to data the Swiss bank Credit Suisse details in its new Global Wealth Report 2018. No other major society currently sports a distribution of wealth much more equitable than Belgium’s. How do we know? The new Credit ... Read more

Sophia Paslaski: Hard Data About Social Programs And Inequality

A recent column headlined “Liberalism and the Democratic Party are dying” (Monitor Opinion, Oct. 12) makes several assertions, but I’d like to address just one. The column suggests that the poor of the U.S. are “poor because the innumerable government social programs brought by ... Read more

The United States Can ‘Share The Wealth’ Now, Here’s How

In the United States, back during the Great Depression, three simple words animated a grassroots upsurge that would help make the nation the world’s first mass middle-class society: Share the wealth! And the nation did. By the end of the 1960s, the top 1 percent’s share of America’s national ... Read more

The Homelessness Problem We Don’t Talk About

The punishment for a crime doesn’t necessarily end when the person has been released from prison. Formerly incarcerated people face multiple barriers to securing housing (including public housing) and employment, which can lead to homelessness. And just by virtue of being homeless—by having to sleep ... Read more

The Enemy Between Us: How Inequality Erodes Our Mental Health

When people are asked what matters most for their happiness and wellbeing, they tend to talk about the importance of their relationships with family, friends and colleagues. It is their intimate world, their personal networks that mean the most to them, rather than material goods, ... Read more