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Wealth Inequality in America

Wealth Inequality in America

http://www.youtube.com/watch?v=QPKKQnijnsM

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Rich-Get-Richer Effect Observed in BitCoin Digital Currency Network In January 2009, a small group of Internet enthusiasts began an unusual economic experiment when they began to trade a new type of digital cash known as BitCoin. After a shaky start, the idea caught on and grew rapidly after 2011. Today, bitcoins can buy a wider range of goods and services. In total, the BitCoin marketplace has hosted over 17 million transactions and the value of all the bitcoins in circulation is over $1 billion.

The Feminization of Poverty "Poverty is the worst form of violence." –Mahatma Gandhi What is the "feminization" of poverty? The feminization of poverty is the phenomenon in which women experience poverty at rates that are disproportionately high in comparison to men. Poor kids who do everything right don’t do better than rich kids who do everything wrong Source: Data from Richard Reeves and Isabel Sawhill America is the land of opportunity, just for some more than others. That's because, in large part, inequality starts in the crib. Rich parents can afford to spend more time and money on their kids, and that gap has only grown the past few decades. Indeed, economists Greg Duncan and Richard Murnane calculate that, between 1972 and 2006, high-income parents increased their spending on "enrichment activities" for their children by 151 percent in inflation-adjusted terms, compared to 57 percent for low-income parents.

40 Maps That Will Help You Make Sense of the World If you’re a visual learner like myself, then you know maps, charts and infographics can really help bring data and information to life. Maps can make a point resonate with readers and this collection aims to do just that. Hopefully some of these maps will surprise you and you’ll learn something new. A few are important to know, some interpret and display data in a beautiful or creative way, and a few may even make you chuckle or shake your head. If you enjoy this collection of maps, the Sifter highly recommends the r/MapPorn sub reddit.

Oligarchy, American Style Anyone who has tracked this issue over time knows what I mean. Whenever growing income disparities threaten to come into focus, a reliable set of defenders tries to bring back the blur. Think tanks put out reports claiming that inequality isn’t really rising, or that it doesn’t matter. Pundits try to put a more benign face on the phenomenon, claiming that it’s not really the wealthy few versus the rest, it’s the educated versus the less educated. So what you need to know is that all of these claims are basically attempts to obscure the stark reality: We have a society in which money is increasingly concentrated in the hands of a few people, and in which that concentration of income and wealth threatens to make us a democracy in name only.

CEO-to-worker pay gap is obscene; want to know how obscene? Nothing seems to get U.S. corporations' dander up like a threat to the pay and perks of their chief executives. That's one explanation for corporate America's superheated, turbocharged, over-the-top reaction to the CEO pay ratio rule recently proposed by the Securities and Exchange Commission. The rule requires most large public companies to calculate the ratio of the pay of their chief executive officer to the median pay of all their employees. Massey Energy’s Negligence Led to Mine Blast, Study Finds The report, released on Thursday by an independent team appointed by former Gov. Joe Manchin III of West Virginia and led by J. Davitt McAteer, a former federal mine safety chief, echoed preliminary findings by federal officials that the blast could have been prevented if Massey had observed minimal safety standards. But it was more pointed in naming Massey as the culprit, using blunt language to describe what it said was a pattern of negligence that ultimately led to the deaths of 29 miners on April 5, 2010, in the worst American mining disaster in 40 years. “The story of Upper Big Branch is a cautionary tale of hubris,” the report concluded.

Stop Supporting Child Slavery By Avoiding These 6 Companies – Collective Evolution Who doesn’t love chocolate? Americans sure do. In fact, the average American citizen eats over 11 pounds of chocolate each year. Top 10 Strangest Things In Space Space Let’s be honest: space is an absolutely crazy place. Most science fiction writers throw in a planet with two stars that looks vaguely like Southern California, and call it a day. But the cosmos is a lot stranger than we give it credit for: Everyone knows that shooting stars are just meteors entering the atmosphere, right? Capitalism vs. Democracy Thomas Piketty’s new book, “Capital in the Twenty-First Century,” described by one French newspaper as a “a political and theoretical bulldozer,” defies left and right orthodoxy by arguing that worsening inequality is an inevitable outcome of free market capitalism. Piketty, a professor at the Paris School of Economics, does not stop there. He contends that capitalism’s inherent dynamic propels powerful forces that threaten democratic societies. Capitalism, according to Piketty, confronts both modern and modernizing countries with a dilemma: entrepreneurs become increasingly dominant over those who own only their own labor. In Piketty’s view, while emerging economies can defeat this logic in the near term, in the long run, “when pay setters set their own pay, there’s no limit,” unless “confiscatory tax rates” are imposed.

Rich Man Calls Rising Income Inequality 'Fantastic' One Canadian entrepreneur couldn't have been more excited to learn that the 85 richest people on Earth are now worth as much half the world's population. "It’s fantastic," said Canadian millionaire Kevin O’Leary on his own Canadian news show the “The Lang & O’Leary Exchange.” “This is a great thing because it inspires everybody, gets them motivation to look up to the one percent and say, ‘I want to become one of those people, I’m going to fight hard to get up to the top,’ " said O'Leary, who's been dubbed Canada's Donald Trump and is also an investor in the reality show Shark Tank. “This is fantastic news and of course I’m going to applaud it,” O’Leary went on to say Monday, on the record, in front of television cameras that were recording him. “What can be wrong with this?” “Really?”

White Collar Crime Prosecutions for March 2014 White Collar Crime Prosecutions for March 2014Table 1. Criminal White Collar Crime Prosecutions The latest available data from the Justice Department show that during March 2014 the government reported 565 new white collar crime prosecutions. According to the case-by-case information analyzed by the Transactional Records Access Clearinghouse (TRAC), this number is down 6.9 percent over the previous month. The comparisons of the number of defendants charged with white collar crime-related offenses are based on case-by-case information obtained by TRAC under the Freedom of Information Act from the Executive Office for United States Attorneys (see Table 1). When monthly 2014 prosecutions of this type are compared with those of the same period in the previous year, the number of filings was down (-6.9%).

This Map Shows the Most Valuable Brand for Each Country The world’s most valuable brand is owned by a company that you likely interact with every day. In fact, you may have even gotten to this web page using it. That brand is Google – and it dominates the internet with a 64% market share in search, while generating 41% of all digital advertising revenue globally. According to Brand Finance’s most recent 2017 list, Google’s “brand value” has recently increased to $109.5 billion, which is just enough to supplant Apple’s $107.1 billion brand from the top of the list. What is “brand value”?

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